Welspun Corp first company from India to join the H2Pipe Joint Industry Project on Hydrogen Pipelines

Welspun Corp Ltd. (WCL), one of the largest welded line pipe manufacturing companies in the world, has joined a global H2Pipe Joint Industry Project (JIP) on the Design and Operation of Hydrogen Pipelines launched by leading industrial certification body DNV AS Energy Systems Pipeline Technology. Welspun Corp will help develop a recommended practice (RP) for design, re-qualification, construction and operation of pipelines for hydrogen gas transportation in offshore pipelines and complement existing standards such as DNVGL ST F101 (submarine pipeline systems). This industry-first project will provide guidance to the global energy sector as it shifts towards clean energy using alternative sources, with Hydrogen emerging as an important pillar for energy transition.

As a Steering Committee Member, Welspun Corp will collaborate with 24 of the world's premier energy companies, which also include Shell, BP, Total Energies, Equinor, Wood, Orsted, Gassco, Wintershall Dea, Intecsea, Subsea7, TechnipFMC and Saipem, to provide technical expertise in the project aimed at laying the foundation of hydrogen infrastructure.

Commenting on this milestone, Mr. Balkrishan Goenka, Chairman, Welspun Group said, "With our organizational ethos of placing sustainability under the Group's ESG mandate at the core of all our businesses, we are prepared and thrilled to drive this important research that supports the world's energy transition. Our participation in this international initiative will allow us to be at the forefront of creating a smarter and a more sustainable world, while charting the course for the development of a futuristic hydrogen pipeline across markets, including India."

Mr. Vipul Mathur, Managing Director & CEO, Welspun Corp Limited added, "As energy demands across the world rapidly evolve, Welspun Corp is confident about undertaking strategic interventions in new opportunities and new segments. Through this JIP, not only are we leveraging our technical expertise and enhancing our global focus, we are also playing an active role in creating both economic value and sustainable gains for the industry."

The H2Pipe project will be executed in multiple phases. The first phase will focus on the assessment of existing standards, including the offshore standard DNVGL-ST-F101, to identify the scope and additional considerations for hydrogen transportation. This will be captured in an industry guideline and will include preliminary experimental activities. The subsequent phases will be experimental to define the requirements and acceptance criteria for offshore hydrogen pipelines.

Shares of Welspun Corp Limited was last trading in BSE at Rs. 145.85 as compared to the previous close of Rs. 145.15. The total number of shares traded during the day was 162329 in over 3368 trades.

The stock hit an intraday high of Rs. 149.05 and intraday low of 145.20. The net turnover during the day was Rs. 23835131.00.

Shares of Welspun Corp Limited was last trading in NSE at Rs. 145.95 as compared to the previous close of Rs. 145.15. The total number of shares traded during the day was 1629573 in over 19861 trades.

The stock hit an intraday high of Rs. 149.25 and intraday low of 145.10. The total traded value during the day was Rs. 239296333.40.

Source : Equity Bulls

Keywords

WelspunCorp INE191B01025 WELCORP Construction Engineering Certification