Hydrogen and Biofuels: Opportunities to Decarbonize the Refinery Industry

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Meeting ID: 932 0137 7630
Passcode: 013011

Presenter

Svetlana A. Ikonnikova, Ph.D.
Associate Professor
Research Director at the Center for Energy Markets
TUM School of Management
The Technical University of Munich

Description

This study contributes to the ongoing debates about the financial viability of hydrogen-based synthetic fuels and low emission biofuels. We model the refinery (or other energy-intensive) industry heavily dependent on fossil fuels used as feedstocks and for process heating. Using the European refineries as example, we analyse how emission regulations create incentives to invest in syn- and/or bio-fuels and analyse the competition across various technologies. We elucidate the parameters under which the demand for hydrogen in the refinery industry may grow making it a dominant energy input. By examining a diversity of variables, we provide insights into the economic and environmental trade-offs involved in transitioning refineries to low-carbon operations.