Enap and HIF Global sign agreement to accelerate the launch of synthetic fuels in Chile

This is a machine translation of the original release issued in Spanish

PRESS RELEASE from Enap and HIF Global
September 6, 2024

Paris, September 6, 2024. The National Petroleum Company (Enap) and HIF Global took a new step in their alliance today in Paris (France), signing a commercial agreement that will accelerate the development of e-Fuels in Chile.

This updates previous agreements between both companies and opens the possibility for Enap to join as a shareholder in HIF's e-Fuel production projects in Magallanes. It will also allow the development of a project to make viable everything from the unloading of equipment to the export of final products and to define a business model for the state-owned company to market carbon-neutral fuels. The agreement establishes a modernization plan for the Cabo Negro docks and their associated infrastructure.

The Minister of Finance, Mario Marcel, highlighted this agreement in a global context of reduced emissions and greater demand for production with clean energy and green hydrogen in the future. “This demand is a window of opportunity for our country that will not automatically translate into investments, but we must generate complementarity or support between the public and private sectors to take advantage of these possibilities in a timely manner. With the signing of this memorandum of understanding, we are no longer talking about green hydrogen as an abstraction or possibility, but rather we are discussing what is required from a logistical point of view to install plants to produce ammonia or synthetic fuel and that they can be exported. We are already getting down to business and the projects are already beginning to take shape.”

“This agreement is very good news. It reaffirms the strategic role of the public company in the development of the green hydrogen industry and its derivatives, and deepens the ties of public-private collaboration that will allow us to move together to better standards of productivity, environment and decent employment in the Magallanes region, giving value to the assets that Enap has in the area that are key to the logistics chain of this new industry,” said the Minister of Energy, Diego Pardow.

“The possibility of having low-carbon synthetic fuels represents not only a technological advance, but a paradigm shift. They can be a key piece to support decarbonization and open the door to a more sustainable future. As a state-owned company, we are convinced that our role is key to making this type of initiative a reality and moving forward decisively in the energy transition process,” said the president of the Board of Directors of Enap, Gloria Maldonado.

“The energy transition represents a unique opportunity for the country and for us, and we are convinced that the only way to face it is with public-private collaboration. This agreement shows that when there are real commitments and shared visions, reliable and efficient solutions can be established. This adds to the progress that Enap already has in this area for the development of new low-carbon businesses,” said Enap general manager Julio Friedmann.

“Over the past few years we have developed a fruitful alliance with Enap that we want to continue to deepen. All of this company's fuel expertise today has the possibility of moving towards a more sustainable era thanks to our synthetic gasolines. There are many synergies with HIF Global that we want to project into the future,” said HIF Global's president and CEO, César Norton.

About Enap

The National Petroleum Company (Enap) is a public company owned by the State of Chile, whose main activity is the exploration, production, refining and commercialization of hydrocarbons and their derivatives. It was created on June 19, 1950. It participates in the exploration and production of hydrocarbons, through its subsidiary Enap Sipetrol SA, also in refining, transportation, storage and commercialization of petroleum products, through Enap Refinerías SA

Enap has activities and operations in Chile, Argentina, Ecuador and Egypt. Its headquarters are located in Santiago de Chile.

More information about Enap at www.enap.cl

About HIF Global

HIF is the world’s leading e-fuels company, developing projects globally to convert renewable energy into e-fuels that can be used in existing engines. The name HIF represents the company’s mission: to provide highly innovative fuels to enable the decarbonization of the planet. HIF is producing e-fuels today at its HIF Haru Oni plants in southern Chile and is developing commercial-scale e-fuels projects in Texas, Uruguay, Australia and Chile. For more information, visit www.hifglobal.com .