Thursday, October 5, 2023
HomeEnvironmentYara Clean Ammonia, Cepsa to Establish Clean Hydrogen Corridor in Europe

Subscribe

To our FREE newsletter
Get all the latest maritime news delivered straight to your inbox.

Yara Clean Ammonia, Cepsa to Establish Clean Hydrogen Corridor in Europe

Yara Clean Ammonia will supply clean ammonia to Cepsa’s customers in Rotterdam and Central Europe, thus developing the first clean hydrogen maritime corridor between the ports of Algeciras and Rotterdam. The project aims at decarbonizing the European industry as well as maritime transport.

The partnership envisages Yara Clean Ammonia (YCA) supplying Cepsa with clean ammonia volumes, which will allow the energy company to get a head start in establishing the clean hydrogen corridor and lead the initiative to serve industrial and maritime customers in Rotterdam and Central Europe.

“Yara Clean Ammonia and Cepsa have forged a pioneering partnership to establish a credible and robust supply chain for clean energy transformation in Europe. This partnership will lay a solid foundation for industrial efforts to secure clean ammonia and hydrogen for several downstream applications in Europe while securing the clean transformation goals. We are delighted to be a part of this collaborative initiative,” said Magnus Krogh Ankarstrand, President of Yara Clean Ammonia.

The alliance with Yara Clean Ammonia will help establish a safe, resilient, and cost-efficient supply chain for delivering clean ammonia to Cepsa’s industrial and maritime customers in Rotterdam and Central Europe. The partnership also paves the way for Cepsa to deliver the first clean hydrogen molecules to its customers by using Yara Clean Ammonia’s global supply base and logistical footprint. This will in turn allow the energy company to start marketing clean hydrogen and clean ammonia to industrial customers and maritime customers in Rotterdam and Central Europe.

“Today’s agreements are a crucial step towards the long-term viability of the Andalusian Green Hydrogen Valley and the implementation of the first maritime corridor of sustainable fuels that will link the South with the North of Europe. Green hydrogen and its derivatives are the fastest, most viable and competitive solution to accelerate the energy transition in heavy transport and ensure energy independence in Europe. The agreements announced today give our project crucial access to markets, customers and distribution infrastructure: three key elements to unlock the potential of our Hydrogen valley. This is major news for the decarbonization of European shipping and industry and for the planet,” said Maarten Wetselaar, CEO of Cepsa.

The alliance incorporates Yara Clean Ammonia as the newest partner of the Andalusian Green Hydrogen Valley. YCA and Cepsa will work comprehensively to develop a robust supply chain for realizing the clean hydrogen corridor. Cepsa will build a new green ammonia plant at its energy park in San Roque, Cádiz, near the port of Algeciras, with an annual production capacity of up to 750,000 tons.

Their Majesties the King of Spain, Felipe VI, and the King of the Netherlands, Willem-Alexander, witnessed recently the signing of the commercial partnership agreement between Yara Clean Ammonia and Cepsa, under which the two companies will set up the first clean hydrogen maritime corridor between southern and northern Europe, connecting the ports of Algeciras and Rotterdam as part of efforts to boost as well as decarbonize industry and maritime transport on the continent.

Related Posts

Video

Finance & Economy
Shipping News
Ports

Golden Ocean: Renewal of share buy-back program

Reference is made to the announcement by the Board of Directors in Golden Ocean Group Limited (OSE/NASDAQ: GOGL) dated 4 October 2022 regarding the...

DHT Holdings announces share buyback

DHT Holdings announced that the Company during the third quarter has purchased 1,137,583 of its own shares, equivalent to 0.7% of its outstanding shares,...

Scorpio Tankers takes options to buy back over 20 ships

In a relevant SEC filing, Scorpio Tankers announced extensive vessel repurchases via sale and leaseback arrangements, including for the 2016-built LR2 product tanker STI...

TOP Ships Announces Reverse Stock Split

TOP Ships announced that it has determined to effect a 1-for-12 reverse stock split of the Company’s issued common shares. The Company’s shareholders approved the...

Carnival Earnings Outlook Misses While Fuel Costs Near 15-Year High

Carnival Corp. posted a profit for the first time since 2020 but issued a fourth quarter earnings outlook that missed Wall Streets’ expectations as...

ABS, Crowley Advance Augmented Reality Technology for Maritime

Crowley and ABS, a leading provider in maritime classification and advisory services, have entered...

Baltic index hits over 11-month peak on capesize strength

The Baltic Exchange’s main dry bulk sea freight index rose to its highest in...

MSC to buy 50% stake in Italian passenger rail group Italo

Shipping group MSC has entered into a binding agreement to acquire a 50% stake...

Higher capesize rates drive Baltic index higher

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Baltic index snaps 4-day winning streak as capesize rates slip

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk...

Ukraine: 5 More Cargo Ships Head For Black Sea Ports – report

Five more ships are on their way to Ukrainian sea ports using a new corridor opened to resume predominantly agricultural exports, an alternative arrangement...

Piraeus Port reports strong H1 2023 results

The Piraeus Port Authority SA, which operates Greece’s biggest and busiest port, reported a 48.8-percent increase in pre-tax earnings for H1 2023 – 49.4...

Greece names Thessaloniki port operator preferred bidder for Volos port

Greece’s privatisation agency has named the operator of Thessaloniki port as the preferred bidder for acquiring a 67% stake in the port of Volos,...

Drewry: Port Throughput Index Down 2.1% in July

The Global Container Port Throughput Index fell 2.1% MoM in July 2023, with the small rises recorded in Africa and Oceania having been insufficient...

Vopak: Agreement with Infracapital on sale of Rotterdam chemical terminals

Vopak announces that it has reached an agreement with Infracapital on the sale of its three chemical terminals in Rotterdam (Botlek, TTR and Chemiehaven)...