DALLAS, July 11, 2018 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) was awarded a feasibility study contract from Equinor Energy AS to evaluate the possibilities for building a hydrogen production plant, including CO2 capture and export facilities, in Eemshaven, the Netherlands. The hydrogen will be supplied as fuel to an existing natural gas-fired power plant that will be converted into a hydrogen-fueled power plant designed to lower the plant's carbon emissions at a large scale.
The award of the feasibility study follows the Memorandum of Understanding of Equinor, with its partners Vattenfall and Gasunie, to evaluate the possibilities of converting Vattenfall's gas power plant Magnum in Eemshaven into a hydrogen-powered plant.
"Getting the opportunity to work with Equinor to study the possibilities of gas-to-hydrogen conversion and contribute to a significant CO2 reduction is meaningful to Jacobs in many ways," says Jacobs Senior Vice President and General Manager Energy and Chemicals EMEA David Zelinski. "The award enables us to leverage our expertise in gas processing and aligns perfectly with our vision to deliver innovative and sustainable solutions to our clients."
Building on Jacobs' expertise in hydrogen, reformer technology and CO2 capture, the study performed by Jacobs will focus on the objective of selecting the most effective reformer technology for hydrogen production together with a suitable CO2 capture technology. Jacobs will also deliver the conceptual design of the plant as a basis for economic evaluation and further project definition.
In order to avoid CO2 emissions from the hydrogen production process, up to three million tons per year of CO2 will be captured and then liquefied for ease of transportation to Norway, where it will be injected and stored in an off-shore reservoir. The first of three Magnum plant units should be converted to run on natural gas by early 2024.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With $15 billion in fiscal 2017 revenue when combined with full-year CH2M revenues and a talent force of more than 77,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our Form 10-K for the year ended September 29, 2017, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
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