Colombia’s Ecopetrol to build green hydrogen plant at key refinery

CARTAGENA, December 2, 2024 – Colombia’s Ecopetrol will build a green hydrogen plant at the Cartagena Refinery, Reuters reported on Monday.

The company will invest USD 28.5 million in the plant, which will have an output of 800 tonnes of green hydrogen per year, placing it among South America’s largest such facilities.

“Ecopetrol has entered the modern era of producing clean fuels,” Ecopetrol CEO Ricardo Roa said in a statement.

Low-emissions hydrogen production could contribute an average of USD 400 million-485 million in pre-EBITDA earnings per year by 2040, the company said.

Read our latest interview with Ecopetrol here.

The Cartagena Refinery, located on Colombia’s Caribbean coast, is a key facility for the country’s downstream, processing 210,000 bpd – nearly half of total national refining capacity.

In 2022, Ecopetrol introduced its Low-Carbon Hydrogen Strategic Plan, which entails the implementation of projects worth USD 2.5 billion by 2040.

Read our latest insights on: