Latest news with #lowcarbonammonia
Zawya
23-05-2025
- Business
- Zawya
Fertiglobe eyes future growth with diverse project portfolio across UAE, globally
ABU DHABI - Fertiglobe, an ADNOC subsidiary based in the UAE, is currently evaluating several strategic projects before making final investment decisions. These include a collaborative project with Exxon in the United States and additional prospective ventures in Abu Dhabi. Fertiglobe CEO Ahmad Al-Hoshy informed the Emirates News Agency (WAM) during the 'Make it in the Emirates' that the company is advancing its project in Ruwais Industrial City, Abu Dhabi, to produce one million tonnes of low-carbon ammonia. Fertiglobe's current annual production of ammonia and urea stands at 6.6 million tonnes, with plans to increase this to 7.6 million tonnes by 2027 upon the new project's completion and operational launch. Al-Hoshy also stated that Fertiglobe anticipates a final investment decision in 2025 for a renewable ammonia project in Egypt. In the meantime, Al-Hoshy noted the company's recent acquisition of assets in Australia, which, he said, will facilitate product distribution in key markets. He added, "We continue to monitor global markets in search of new opportunities that allow us to create added value and expand our footprint." Discussing the company's recent financial performance, Al-Hoshy highlighted a robust first quarter in 2025, with EBITDA reaching $261 million, a 45% YoY increase, and free cash flow at $213 million, marking a 37% YoY growth.
Trade Arabia
08-05-2025
- Business
- Trade Arabia
Marubeni buys low-carbon ammonia from ExxonMobil
Marubeni and ExxonMobil have signed a long-term offtake agreement for approximately 250,000 tonnes of low-carbon ammonia per year from ExxonMobil's facility in Baytown, Texas, which is expected to produce virtually carbon-free hydrogen with approximately 98% of CO2 removed and low-carbon ammonia. Marubeni will supply the ammonia mainly to Kobe Power Plant, a fully owned subsidiary of Kobe Steel. Marubeni has also agreed to acquire an equity stake in ExxonMobil's low-carbon hydrogen and ammonia facility. ExxonMobil's facility is expected to be the world's largest of its kind upon startup, capable of producing up to 1 billion cubic feet (bcf) daily of low-carbon hydrogen, which is virtually carbon-free, and more than 1 million tons of low-carbon ammonia per year. Contingent on ongoing supportive government policy and necessary regulatory permits, a final investment decision is expected in 2025. 'This is another positive step forward for our landmark project,' said Barry Engle, president of ExxonMobil Low Carbon Solutions. 'By using American-produced natural gas we can boost global energy supply, support Japan's decarbonization goals and create jobs at home. Our strong relationship with Marubeni sets the stage for delivering low-carbon ammonia from the U.S. to Japan for years to come." 'Marubeni will take this first step together with ExxonMobil in the aim of establishing a global low-carbon ammonia supply chain for Japan through the supply of low-carbon ammonia to the Kobe Power Plant,' said Yoshiaki Yokota, Senior Managing Executive Officer, Member of Corporate Management Committee, Supervisor of Energy & Chemicals Div. and Power & Infrastructure Services Div., Marubeni Corporation. 'Additionally, we aim to collaborate beyond this supply chain and strive towards the launch of a global market for low-carbon ammonia. We hope to continue to actively cooperate with ExxonMobil, with a view of utilizing this experience and relationship we have built to strategically decarbonize our power projects in Japan and Southeast Asia in the near future.' By Japan's fiscal year 2030, Kobe Power Plant aims to co-fire low-carbon ammonia with existing fuel, reducing CO2 emissions. Through this supply chain, Marubeni aims to assist the decarbonization of not only Japan's power sector but also its hard-to-abate sectors, such as the steel manufacturing industry, chemical industry, transportation industry and others. -TradeArabia News Service
Bloomberg
07-05-2025
- Business
- Bloomberg
Exxon Signs Low-Carbon Ammonia Sales Deal With Japan's Marubeni
Exxon Mobil Corp. signed a long-term agreement to sell low-carbon ammonia to Marubeni Corp., a crucial step in getting its hydrogen project in Baytown, Texas, off the ground. Exxon will provide the Japanese company with 250,000 tonnes of the fuel a year from Baytown once it's up and running, the Spring, Texas-based company said in a statement. Marubeni, which will use the ammonia to fuel a power plant owned by Kobe Steel Ltd., will also acquire an equity stake in the project.
