Page 13 - DMEA Week 33 2021

DMEA
NEWS IN BRIEF
DMEA
COMPANIES
ADNOCandFertiglobemake
third blue ammonia sale to
Japan
The Abu Dhabi National Oil Company (ADNOC) announced today that, in partnership with Fertiglobe, it has sold a cargo of blue ammonia to INPEX in Japan, for use in power generation applications. The sale builds upon recently announced joint efforts to enhance industrial cooperation between the UAE and Japan and support
the development of new UAE-Japan blue ammonia supply chains and follows the recent sale of blue ammonia cargos to Japan’s Itochu and Idemtisu.
ADNOCandINPEXhavealongstanding and trusted partnership. INPEX participates in a number of ADNOC’s upstream concessions, has partnered with ADNOC and Intercontinental Exchange Inc (NYSE:ICE) on the launch of ICE Futures Abu Dhabi,
and most recently announced participation in a joint study agreement with ADNOC
and other Japanese partners to explore the commercial potential of blue ammonia production in the UAE.
Fertiglobe, a 58:42 partnership between OCI and ADNOC, will produce blue ammonia at its Fertil plant in the Ruwais Industrial Complex in Abu Dhabi for
delivery to ADNOC’s customer, INPEX,
in Japan. The shipment, which was sold at
an attractive premium to grey ammonia (ammonia produced without CO2 capture and sequestration), underscores the favorable economics for blue ammonia as an emerging source of low-carbon energy. The sale represents a further production milestone of a
planned scale-up of blue ammonia production capabilitiesinAbuDhabi,whichisexpected to include a low-cost debottlenecking program at Fertil. In addition, it was announced in June that Fertiglobe will join ADNOC and ADQ as a partner in a new world-scale 1 million metric tons per annum blue ammonia project at TA’ZIZ in Ruwais, subject to regulatory approvals.
Ammonia can be used as a low-carbon fuel across a wide range of industrial applications, including transportation, power generation, refining and industries including steel, wastewater treatment, cement and fertilizer production. For Japan, in particular, hydrogen and its carrier fuels, such as blue ammonia, are expected to play an important role in the country’s ongoing industrial decarbonization efforts.
ADNOC
SOCARTurkeyraises$1.3bn syndicated loan
SOCAR Turkiye Enerji, the Turkish subsidiary of Azerbaijan’s national oil company SOCAR, has raised a five-year syndicated loan for $1.3bn, SOCAR said in a statement on August 17.
The loan, raised by SOCAR Turkiye Enerji at Libor/Euribor +3.45%, would be used for refinancing, it added.
Citibank and JP Morgan were lead managers of the syndication.
SOCAR Turkiye Enerji controls Turkey’s major petrochemical producer Petkim and STAR refinery, which produces feedstock for Petkim, aviation fuel and a range of other petroleum products. It is the only Turkish rival to Turkey’s largest refiner Tupras.
BNE
FUELS
HezbollahsaysIranian
fuel oil ship set to sail to
Lebanon
A shipment of Iranian fuel oil will be setting sail for Lebanon, organised by the Lebanese group Hezbollah which has warned its US and Israeli adversaries the ship will be considered Lebanese soil as soon as it sails.
Hezbollah leader Sayyed Hassan Nasrallah said on Wednesday that further ships would follow to help the Lebanese people who are enduring crippling fuel shortages as a result of the country’s two-year-long financial meltdown.
“We don’t want to get into a challenge with anyone,wedon’twanttogetintoaproblem with anyone. We want to help our people,” Nasrallah said. “I say to the Americans and the Israelis that the boat that will sail within hours from Iran is Lebanese territory.”
“God willing, this ship and others will arrive safely,” Nasrallah said, in a televised address commemorating Ashura, when Shia Muslims mark the death of the Prophet Mohammed’s grandson Hussein in battle in 680.
Nasrallah, whose armed group was founded in 1982, did not say where or when the ship would arrive, saying this would be discussed when it reached the Mediterranean.
In April, Reuters reported that Hezbollah was preparing fuel storage space in Syria as part of its efforts to deal with the financial crisis in Lebanon, citing senior officials familiar with the efforts.
The group has fighters and influence in neighbouring Syria, where Hezbollah has fought in support of President Bashar al-
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