On May 11, Spiritus Consulting presented the second of a series of three seminars on the HyCO (hydrogen & carbon monoxide) business. The seminar was held in central London, UK, where Dr Keith Guy, Senior Partner of Spiritus Consulting, gave an insightful presentation on the key players and strategies within the HyCO business.

The seminar was well attended by representatives from, amongst others, Air Liquide, BOC, Foster Wheeler, UOP, Goldman Sachs, HSBC, Deutsche Bank, Merrill Lynch, Ernst & Young and ING Bank.

Commenting at the second seminar, Dr Keith Guy said, \\$quot;We are seeing a general alignment of strategy from all the main players recognising that the HyCO business represents a major opportunity for on-site investment. The potential for growth in refinery hydrogen is likely to be in double digits for at least the next 10 to 15 years.\\$quot;

Over the next five years, industrial gas companies will be investing more than $2bn in HyCO capacity to supply oil and chemical companies, primarily to meet environmental legislation requirements. These investments in HyCO are seen as major drivers to the financial performance of the industrial gas companies over the next 10 to 15 years.

The third and final seminar, on HyCO technologies and futures, will be held in London on June 16. For further details, Spiritus Group.