Recently, Wanhua Chemical Group and Linde signed a series of new strategic cooperation agreements.
By signing a series of gas supply agreements, Linde will further provide industrial gas products and operation services to meet the growing demand for industrial gas in Wanhua Chemical and related chemical bases. In Ningbo and Yantai, the two sides will continue to deepen cooperation and jointly invest and cooperate in sustainable development, which is expected to reduce carbon dioxide emissions by 500000 tons per year.
Linde and Wanhua Chemistry have reached cooperation in 2019, with a total investment of 400 million euros . In the previous cooperation, Linde increased gas supply to Wanhua Chemical Yantai Plant by building a new air separation unit (ASU).
In China, industrial gas application terminals are divided into traditional and emerging markets, corresponding to bulk gases and special gases respectively, covering steel, petrochemical, electronics, environmental protection and other fields. Among them, oxygen and nitrogen are the representatives of industrial gases with prominent scale and the largest consumption. With the continuous landing of "double carbon", environmental protection and other goals and policy requirements, hydrogen is expected to become the next growth area in industrial gases.
According to industry body Frost & & Sullivan estimates that by 2050, the hydrogen market supplied by industrial gas producers will increase to 294.1 billion yuan , catching up with the market growth rate contributed by energy and chemical enterprises at a compound growth rate of 16.4%.
As one of the largest industrial gas manufacturers and gas engineering providers in the world, Linde has launched an in-depth layout around the hydrogen energy industry chain in Asia. John Panikar, executive vice president
of Linde Asia Pacific, said in an interview with reporters that Asia is now in a critical period of energy transformation, from which we see great opportunities for hydrogen, and from hydrogen production, hydrogen liquefaction, hydrogen transportation, filling and end use. "Another hydrogen-related area we are currently working on is assisting customers in the manufacture of blue ammonia .". Blue ammonia is a hydrogen carrier and another energy carrier that will be used in many countries.
Talking about the expansion of the Chinese market, Li Zhenmin, president of Linde Greater China, told reporters, "At present, Linde has settled the production of the world's leading hydrogenation station related equipment in China.". In addition, we are also cooperating with Chinese industry partners such as petrochemical companies and power companies on how to use renewable energy to produce green hydrogen, including the production of green chemical products with green hydrogen downstream of the supply chain.
In Linde's regional business composition, China business has become the second largest market business of the group. Pan Keqiang believes that the future growth potential of China's industrial gases is far greater than that of other regions such as the United States and India. It is not surprising that the Chinese market will become Linde's largest business market in the next five years.
Pan Keqiang further stressed that "Linde is one of the foreign companies that have entered China and invested for the longest time, without any interruption of investment, and our confidence in the Chinese market is very firm."
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