“This is not just a unique decarbonisation project, but a strategic investment that can establish new value chains for green hydrogen and green ammonia. Yara is a world leader in ammonia, with long experience and leading position within global ammonia production, logistics and trade. With Statkraft and Aker Horizons onboard we gain key expertise within renewable electricity, power markets, industrial development and project execution, giving us a unique opportunity to realize the project,” says
The partners plan to electrify and decarbonise Yara’s ammonia plant in Porsgrunn. Building on their combined expertise, the partners aim to fully remove CO2 emissions from ammonia production, thereby producing emission-free fuel for shipping, carbon-free fertilizer and ammonia for industrial applications.
The conversion of Yara’s existing ammonia plant has the potential to become one of the largest climate initiatives in Norway’s industrial history, targeting annual CO2 reductions equivalent to the emissions from more than 300,000 fossil fuel passenger cars. Provided that power is available at the site and the required public co-funding is in place, the project could be realized within 5-7 years.
“Aker has been a driving force for knowledge-based industrial development for 180 years. A partnership with Yara and Statkraft, two fellow Norwegian industrial pioneers, marks the beginning of a new industrial adventure in
In addition to the Porsgrunn project, the three companies plan to explore the potential for green ammonia production in
“Statkraft is
Shipping currently accounts for 2 percent of global GHG emissions, of which long-distance shipping represents 80 percent. Converting all long-distance shipping to ammonia would require approximately 500-600 million tonnes of ammonia annually, 3-4 times the current world production. The Norwegian shipping industry has a stated ambition to reduce emissions from domestic shipping by 50 percent by 2030, which will require significant green hydrogen production.
Yara’s Porsgrunn plant is well set up for large-scale production and export, allowing
“It is currently more expensive to produce green hydrogen based on renewable electricity and electrolysis than through natural gas, but large-scale production will reduce cost of the electrolysis route. For hydrogen to be exported or used in long-haul shipping or fertilizer production, it needs to be converted to ammonia, and converting Yara’s existing ammonia plant is both faster and more cost-effective than building a new plant. However, realizing this innovative project will require good incentive frameworks and support from the authorities,” says Holsether.
Ammonia’s chemical properties make it ideally suited for the hydrogen economy. It does not need to be refrigerated to the same temperatures as hydrogen, and has a higher energy density than liquid hydrogen, making it more efficient to transport and store. Ammonia is therefore the most promising hydrogen carrier and zero-carbon shipping fuel.
Link to joint virtual press conference today at
https://www.yara.com/news-and-media/green-ammonia-project-press-conference/
Contacts
Thor Giæver, SVP Investor Relations
Mobile: (+47) 480 75 356
E-mail: thor.giaver@yara.com
Mobile: (+47) 481 80 451
E-mail: josiane.kremer@yara.com
About Yara
Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger, we pursue a strategy of sustainable value growth, promoting climate-friendly and high-yielding crop nutrition solutions for the world’s farming community and food industry.
Yara’s ambition is to be the
Founded in 1905 to solve the emerging famine in
www.yara.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
- Statkraft_Yara_Aker
© OMX, source