The Fourth IMO Greenhouse Gas study, published in August 2020, predicts that emissions could increase by as much as 130% by 2050 compared with 2008 levels.
Under the MoU announced, Trafigura and Yara intend to collaborate in the following areas:
- The supply of clean ammonia by Yara to Trafigura Group companies.
- Exploration of joint R&D initiatives for clean ammonia application as a marine fuel.
- Development of new clean ammonia assets including marine fuel infrastructure and market opportunities.
“This agreement is another good example of cross-industry collaboration to develop and promote zero-emission fuel in the form of clean ammonia for the shipping industry. Building clean ammonia value chains is critical to facilitate the transition to zero emission fuels by enabling the hydrogen economy – not least within trade and distribution where both Yara and Trafigura have leading capabilities. Demand and supply of clean ammonia need to be developed in tandem,” said Magnus Krogh Ankarstrand, President of Yara Clean Ammonia.
“There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential,” said Jose Maria Larocca, Executive Director and Co-Head of Oil Trading for Trafigura.
Register for free to attend Ammonia 2021, an online conference focusing on cutting-edge developments in ammonia production technology: https://www.worldfertilizer.com/ammonia2021/register/