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Sembcorp signs framework agreement for potential hydrogen pipeline at COP29

Sembcorp signs framework agreement for potential hydrogen pipeline at COP29

By Swedan Margen

Fashion

The agreement is not expected to have a material impact on the company’s FY2024 results

SEMBCORP Industries has inked a joint development framework agreement at COP29 for a potential hydrogen pipeline between Singapore and Indonesia.

The other parties in the agreement are PLN Energi Primer Indonesia and Transportasi Gas Indonesia, said Sembcorp in a bourse filing on Wednesday (Nov 13).

The agreement aims to establish a potential hydrogen transportation pipeline connecting Sumatra, Indonesia’s Riau Islands and Singapore.

This follows an earlier announcement from Sembcorp about a partnership with PLN Energi Primer Indonesia on the potential development of South-east Asia’s largest green hydrogen facility with an annual capacity of 100,000 tonnes.

The agreement is not expected to have a material impact on Sembcorp’s results for FY2024.

Shares of Sembcorp closed down 1 per cent or S$0.05 to S$5.03 on Wednesday.

Copyright The Business Times. All rights reserved.

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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