The Labour Party needs to find at least £8 billion ($10 billion) to deliver its green-investment plan, a new analysis shows, underscoring why UK opposition leader Keir Starmer may be mulling changes to the initiative.
Fertiglobe is now the “world’s largest seaborne exporter of ammonia and urea fertilisers. Today’s agreement reinforces Adnoc’s long-term commitment to Fertiglobe and our continued focus on delivering growth and maximising value for the company’s shareholders.”
Forrest said hydrocarbon executives at COP28 talking up production “must think you have blood on your hands”. The Fortescue head was talking on Perth’s 6PR station.
“This is a fundamental shift in our approach towards gas procurement, but we believe that this is necessary to create a more stable and secure power system that will ultimately benefit the consumers and also the gencos themselves,” he explained.
SLR said there would be a “blend” of renewable energy resources in order to provide power 24 hours a day.
Engie said the feedstock would go to South Korea, starting in the second half of 2030. It will take seven years to develop and build the project and then it will operate for 40 years. It will begin construction in 2027.
Hyphen CEO Raffinetti said the company aimed to provide a “first supply of ammonia from our project into Europe by early 2028”. It aims to reach 2mn tpy of ammonia by 2029.
Air Products is also working on receiving facilities in Europe. In November 2022 it set out plans, with Mabanaft, to build a green ammonia import facility in Hamburg. This project should start up in 2026.
“We also expect production of hydrogen in the USA on account of the Inflation Reduction Act [IRA], and this surely supports the plausibility of the hydrogen import target – as long as US and EU can make concessions to each other,” the Topsoe executive said.
The challenge over the next 10 years will be in scaling up SAF production. Green hydrogen production is relatively niche, as yet. “A lack of green power and electrolysis capacity, this will not make a dent” in the projected SAF demand.
RWE has signed a memorandum of understanding (MoU) with Hyphen Hydrogen Energy on the supply of green ammonia from Namibia.
Three of East Asia’s leading energy and infrastructure groups have signed a new agreement to explore the development of green hydrogen and ammonia projects in Indonesia.
A consortium led by Siemens Energy has begun working on a new prototype system designed to produce hydrogen from ammonia.
Morocco is working on plans to improve its gas supply links, while also ensuring it is ready to capitalise on the energy transition.
Malaysia’s Petronas has signed a memorandum of cooperation (MoC) with the Ministry of Economy, Trade and Industry of Japan (METI), as well as a memorandum of understanding (MoU) with Japan Bank for International Cooperation (JBIC), to collaboratively pursue mutual sustainability goals of achieving carbon neutrality by 2050.
German Chancellor Olaf Scholz has signed agreements on securing new energy supplies during a visit to United Arab Emirates President Sheikh Mohamed bin Zayed.
New research has set out how the UK could rapidly accelerate net zero technologies and cut costs in the “critical” years ahead to capture global economic opportunities.
Australia’s Woodside Energy has signed a joint research agreement with numerous Japanese partners to study the creation of a ammonia supply chain from Australia to Japan.
Aberdeen-headquartered Wood has hailed its $230 million business on the other side of the North Sea.
ADNOC has hailed a “tartan” energy revolution in Aberdeen while seeking supply chain partners for a $5bn opportunity in Abu Dhabi.
Prieska Power has struck a partnership with South Africa’s Industrial Development Corp. (IDC) to develop a green hydrogen project in Prieska Northern Cape.
While hydrogen can be used in many sectors, its derivative, ammonia, has emerged as a key tool to provide flexible power generation and integrate variable renewables. Analysis by energy research company Wood Mackenzie shows that a 10% ammonia co-firing in global coal plants would translate to 200 million tonnes (Mt) of ammonia demand, a potential market of $100 billion by 2050.
Masdar has signed up to develop green hydrogen in the Suez Canal economic zone. This follows a number of similar agreements from United Arab Emirates-based companies with Egypt.
KBR said it has won an ammonia technology contract from South Korea’s Daelim Industrial, or DL E&C, for NeuRizer's carbon-neutral fertiliser project in Australia.
Namibia will receive N$100 million ($6.3mn) in concession fees from its preferred hydrogen bidder this year, President Hage Geingob has said.