Geneva's ACME group, Norwegian's Scatec ASA, and Yara International ASA have signed on Friday a term sheet for offtake from the first phase of green ammonia from Oman. The joint project aims at building a state-of-the-art facility in reducing CO2-emissions, while the triple partners will share their experience as it expected to produce up to 1.1 million ton of green ammonia annually. The three parties have agreed the principal terms for offtake of 100,000 tonnes annually of green ammonia in a first phase, and prospect to increase the acquisition from the second phase as this develops. ACME and Scatec will start developing the first phase of the project over 12 km2 of land to produce 100,000 metric ton of green ammonia per annum in the Special Economic Zone at Duqm. The agreement enables the partners' first green ammonia project in Oman, according to Yara's company the green ammonia supply will contribute to produce green fertiliser and decarbonise other industries like shipping, power, and steel industry. Yara is a leader in global ammonia production, logistics and trade and is growing the market for green ammonia that can used for decarbonising other industries. Moreover, there is a growing need to accelerate decarbonisation of heavy industries through Power-to-X solutions such as production of green hydrogen, ammonia and other critical feedstocks powered by renewable energy. Oman has qualified conditions for renewable energy and a strategic location to produce green ammonia for export to Europe and Asia, which are the pacesetters in reducing CO2-emissions.
