TA’ZIZ signs ammonia shareholder agreement
SUMMARY
It has signed the agreement with Fertiglobe, GS Energy Corporation and Mitsui & Co. to develop a low-carbon ammonia production facility TA’ZIZ Industrial Chemicals Zone.
By Shardul SharmaAbu Dhabi Chemicals Derivatives Company (TA’ZIZ), a joint venture between ADNOC and ADQ, has signed a shareholder agreement with Fertiglobe, GS Energy Corporation and Mitsui & Co. to develop an anticipated 1mn metric ton/year low-carbon ammonia production facility at the TA’ZIZ Industrial Chemicals Zone, ADNOC said on January 18.
“The shareholder agreement highlights the exceptional international investor interest in TA’ZIZ and follows ADNOC and Fertiglobe’s recent sales of low-carbon ammonia demonstration cargos to customers in Japan, Korea and Germany,” ADNOC said.
Low-carbon ammonia is made from hydrogen derived from natural gas feedstocks and nitrogen, with the carbon dioxide produced captured and stored. Ammonia can be used as a low-carbon fuel for applications, including transportation and power generation and in industries, such as steel, cement and fertilizers.
Meanwhile, ADNOC has signed a memorandum of understanding (MoU) with Germany’s Thyssenkrupp to explore projects for large-scale ammonia cracking, which is used to extract hydrogen from ammonia after transportation, the company said on January 17 in a separate statement.
Under the agreement, the companies will work together to develop large-scale ammonia cracking plants and supply green ammonia from the UAE to large-scale ammonia cracking facilities globally.
ADNOC is focusing on low carbon projects and has allocated $15bn for decarbonisation projects by 2030 including carbon capture, electrification, new CO2 absorption technology and enhanced investments in hydrogen and renewables.
Throughout 2023, a suite of new projects and initiatives will be announced, the company said on January 5.
