Saudi Aramco has ambitious plans to build out capacity of low-carbon blue ammonia production facilities, targeting 11mn t/y by 2030. But company officials, speaking at the Energy Intelligence Forum in London this week emphasized that challenges over securing the necessary long-term offtake agreements risk delaying the plans.
“We are close to completing engineering, and are ready to execute the project, the issue is the offtake. Because the price is high,” CEO Amin Nasser told the conference. “Customers around the world are finding it difficult to cope with these high prices and are waiting for government incentives, and so we are still waiting for offtakes. We’re working with our customers, mainly in Japan and South Korea, and I think that as soon as the government incentives come, these customers will start signing the offtakes and we can start our project.” (CONTINUED - 923 WORDS)