Page 10 - AsianOil Week 50 2021

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Idemitsu receives Emirati blue ammonia

ENERGY JAPANESE refiner Idemitsu this week said it to have signed ammonia deals with ADNOC,
TRANSITION had received the first shipment of blue ammonia with Inpex and Itochu having all agreed supply
from Abu Dhabi National Oil Co. (ADNOC) fol- contracts this year, while various South Korean
lowing a deal in August. firms have done the same.
The cargo was shipped from the Fertil plant The ammonia was produced using gas feed-
at Abu Dhabi’s Ruwais downstream hub in the stock supplied by ADNOC and CO2 emitted in
west of the emirate and arrived at the 255,000 its production was captured and stored for use
barrel per day (bpd) Yokkaichi refinery in Japan in the company’s enhanced oil recovery (EOR)
on December 9, and has now been transferred efforts.
into an ammonia tank at the facility. Fertiglobe is the largest export-focused nitro-
According to the Japanese firm, the ammonia gen fertiliser platform globally, and the largest
was shipped in liquefied form using an ISO tank producer in MENA with an output capacity of
container. It will be used in the refinery’s boiler 5mn tonnes per year of urea and 1.5mn tpy of
and furnaces to reduce nitrogen oxide (NOx) merchant ammonia from facilities in Algeria,
emissions. Egypt and the UAE.
The contract was signed between Idemitsu The JV is working with holding company
and Fertiglobe, a joint venture between chemi- ADQ, Japan’s Mitsui and Korea’s GS Energy
cals specialist OCI and ADNOC that was listed to develop a new world-scale 1mn tpy blue
on the Abu Dhabi Securities Exchange (ADX) ammonia project at TA’ZIZ Industrial Chemi-
earlier this year. ADNOC was responsible for cals Zone in Ruwais in addition to the 300,000
transporting the ammonia. tpy of hydrogen it already produces at the
Idemitsu is one of several Japanese companies downstream hub.™

OCEANIA

Senex agrees to Posco takeover

INVESTMENT AUSTRALIA’S Senex Energy has agreed to be in Southeast Asia and is seeking to expand into
acquired by Posco International, the trading other markets. However, it does not appear to
arm of South Korean steelmaker Posco, for have exports in mind with the Senex deal, given
AUD852.1mn ($606.8mn). that much of the Australian company’s output is
Senex approved the deal after Posco raised earmarked for the domestic market.
its offer for a third time, to AUD4.60 ($3.3) If Senex shareholders approve the transac-
per share. The South Korean company ini- tion, it will close in late March 2022. Posco
tially offered AUD4.00 ($2.85) per share, sub- also intends to sell a 49.9% stake in Senex to
sequently hiking this to AUD4.20 ($2.99) and Hancock Energy if it succeeds in taking over
AUD4.40 ($3.13) per share before arriving at the company. However, that deal is not a pre-
the current price. Senex shareholders will also requisite to the Posco-Senex transaction going
receive an AUD0.05 ($0.04) per share dividend ahead.
for the six months up to December 31.
In a December 13 statement, Senex said that Gas agreement
the offer price represented a 25% premium to In a separate announcement released on the
its average 30-day share price on the Australian same day, Senex said it had struck a deal with
Securities Exchange (ASX) and a 34% premium Royal Dutch Shell’s Australian subsidiary to
to the average 90-day share price up to October supply 8 petajoules (215mn cubic metres) of gas
15. to the domestic market over a four-year period.
Senex is a producer of coal-bed methane The gas will be supplied at the Wallumbilla Hub
(CBM), known locally in Australia as coal-seam from 2022, at a fixed price that Senex said was in
gas (CSG), and supplies the country’s East Coast line with current market levels.
market, as well as the Gladstone LNG (GLNG) The deal illustrates Senex’s focus on Austral-
export project. Posco owns oil and gas stakes ia’s domestic market.™

P10 www. NEWSBASE .com Week 50 17•December•2021