Trafigura signs MoU for gas infrastructure collaboration
This collaboration will be in shipping while the two will explore opportunities to work together on clean ammonia fuel infrastructure and market opportunities.
Both Yara and Trafigura have taken steps towards making the transition to a greener economy a reality.
The two companies intend to collaborate on initiatives that will establish themselves in the clean ammonia value chain including the supply of clean ammonia by Yara to Trafigura Group companies.
They will also explore joint R&D initiatives for clean ammonia application as a marine fuel and develop new clean ammonia assets including marine fuel infrastructure.
“This agreement is another good example of cross-industry collaboration to develop and promote zero-emission fuel in the form of clean ammonia for the shipping industry. Building clean ammonia value chains is critical to facilitate the transition to zero emission fuels by enabling the hydrogen economy – not least within trade and distribution where both Yara and Trafigura have leading capabilities. Demand and supply of clean ammonia need to be developed in tandem,” said Magnus Krogh Ankarstrand, president of Yara Clean Ammonia.
“There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential,” said Jose Maria Larocca, executive director and co-head of oil trading for Trafigura.