MEPC 82 featured important progress in the ongoing development of the IMO’s “mid-term measures” to cut GHG emissions. States remain divided over the precise architecture of the financial mechanism, and the distribution of revenues received significant attention - particularly from states concerned about unjust or inequitable consequences of the energy transition.
As shown in the IEA’s recently released Global Hydrogen Review 2024, the cumulative hydrogen production capacity reaching Final Investment Decision has doubled compared to last year. Promisingly, low-emission ammonia comprises a significant portion of both the mature project pipeline and secured offtake volume.
The US Department of Energy will provide up to $1.6 billion in loan guarantees for Wabash Valley Resources to finance their CCS-based ammonia production project in Terre Haute, Indiana. Once completed, the project would be Indiana’s only ammonia plant, producing low-emission fertilizer for use in the US Corn Belt.
In our July episode of Project Features, we were joined by the Port of Rotterdam, OCI Global and Chane to explore current and future ammonia imports into Rotterdam. With significant ammonia import targets set for 2050, terminal projects are already underway in Rotterdam, including a four-phase expansion of OCI Terminal Europoort, and a new distribution hub from Chane. These developments will proceed according to a modern, updated set of guidelines for ammonia storage and handling in the Netherlands, known as PGS-12.
The FuelEU Maritime Regulation is set to launch on August 31, requiring companies to submit monitoring plans ahead of its full implementation in January 2025. With modest initial targets and sophisticated compliance mechanisms like banking, borrowing, and pooling, the scheme offers flexibility while driving innovation in sustainable maritime technologies. The scheme also offers extra incentives for companies to proactively embrace Renewable Fuels of Non-Biological Origin (RFNBOs), before mandates enter into force next decade.
The new loan from the World Bank will go towards programs that support the production of hydrogen via electrolysis, as well as the manufacture of electrolyser units themselves. In June 2023, an initial $1.5 billion was provided from the World Bank to assist implementation of key hydrogen policy measures in India.
Meet the Port of Rotterdam, OCI Global and Chane, three organisations at the forefront of preparing the Netherlands for increased ammonia imports. In this webinar, learn how updates to PGS-12 - the Dutch national guideline for ammonia storage and handling - will help unlock expanded ammonia imports to Rotterdam and other key ports.
The Solar Energy Corporation of India has released final details for the subsidy scheme, which will assist the decarbonisation of fertiliser production in India. Eleven renewable ammonia production projects will be matched to eleven fertiliser manufacturers in a reverse auction process, with annual tonnages and delivery schedules for ammonia already set.
Approved by the national cabinet, the draft law aims to create a legal framework for rapid development and expansion of hydrogen infrastructure, including ammonia import and cracking facilities. Relevant planning, approval and procurement procedures will be simplified and digitalized where possible, and projects covered by the Act will also be considered in the “overriding public interest”, with some important caveats. Germany’s national cabinet also approved a CCS Act this month, aimed at decarbonising hard-to-abate industrial processes.
The federal government of Canada has agreed to support Project Nujio’qonik via a US$95 million credit facility. The funding will help developers in the push towards long-term financing for the Newfoundland-based ammonia project.