Fertiglobe, Covestro and MB Energy have signed a Memorandum of Understanding to explore the development of an ammonia supply chain serving Germany and the wider European market.
Under the agreement, ADX-listed Fertiglobe will explore supplying ammonia through a proposed import terminal to be developed and operated by MB Energy at Blumensand in Hamburg. Fertiglobe will also evaluate a potential equity investment in the terminal.
Covestro will assess the potential offtake of ammonia delivered through the terminal for use as feedstock in its manufacturing operations and to meet hydrogen supply requirements.
The companies will jointly evaluate commercial, technical and logistical requirements, including terminal capacity, supply volumes, delivery arrangements and transportation to industrial customers through infrastructure such as pipelines, barges and rail.
The partnership will consider conventional, lower-carbon and renewable ammonia, with the aim of diversifying ammonia supply routes and strengthening supply-chain resilience for industrial customers in Germany and across Europe.
The agreement was signed during UAE President Sheikh Mohamed bin Zayed Al Nahyan’s visit to Germany.
Fertiglobe CEO Ahmed El-Hoshy said the partnership could strengthen the company’s connectivity with European industrial customers and expand routes to market for its global ammonia platform.
Source: Fertiglobe
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
