Norway – The partnership between Trafigura and Yara International has agreed to collaborate on ammonia fuel research and promotion, as well as ammonia fuel infrastructure and market opportunities.
Shipping emissions are an important component of the global climate change fight, yet shipping-related greenhouse gas emissions are rising. Greenhouse gas emissions could rise by as much as 130% by 2050, according to the research from the IMO published in August 2020. To reverse this growing concern, ships, fuels, and supporting infrastructure must all alter due to the impending industry transition to low or zero-carbon maritime fuels.
Both Yara and Trafigura have made numerous measures to enable the transition to a greener economy. The two corporations have set their sights on forming partnerships in the clean ammonia value chain for the first time.
Trafigura and Yara will engage under the terms of the MoU in areas such as Yara’s supply of clean ammonia to Trafigura companies. The collaboration also includes the investigation of cooperative R&D projects for the use of clean ammonia as a marine fuel. The collaboration also includes the creation of new clean ammonia assets, such as maritime fuel infrastructure and market prospects.