MOSCOW (MRC) -- OCI has signed a memorandum of understanding (MoU) with Korean company Lotte Fine Chemical for the supply of low-carbon and green ammonia, the companies said in a statement.
The first shipments will start this year from OCI's US facilities. The companies are also looking to co-operate to build a global supply chain of bunkering for ammonia-powered vessels in Ulsan, Korea, which are expected to be commercialised from 2025 onwards.
Under the agreement, OCI will supply Lotte Fine Chemical from OCI's existing low-carbon ammonia production capacity in Texas starting this year. Lotte Fine Chemical will introduce OCI's ISCC Plus bio-ammonia, derived from bio-methane, for supply to its domestic customers. When bio-certified, plastic products made of this material will be eligible for tax benefits when exported to Europe.
We remind, Linde has announced it signed a long-term agreement to supply clean hydrogen and other industrial gases to OCI’s new world-scale blue ammonia plant in Beaumont, Texas. Linde said it will build, own and operate an on-site complex which will include autothermal reforming with carbon capture, plus a large air separation plant, and will be integrated into their Gulf Coast industrial gas infrastructure.