YARIY Yara International ASA (PK)

   By Dominic Chopping 
 

Norwegian fertilizer producer Yara International ASA, Japanese power-generation company JERA Co. and Japanese petroleum-product supplier Idemitsu Kosan Co. have signed a memorandum of understanding to explore the establishment of a domestic clean ammonia distribution network and bunkering business to accelerate Japan's green-energy transition.

JERA and Yara announced a collaboration to decarbonize power production in Japan in May 2021, and since then the two companies have been exploring the potential to cultivate demand for clean ammonia in Japan, Yara said Tuesday. JERA and Yara have also agreed to study the potential of ammonia bunkering business and distribution to the industrial sector in Japan.

Expanding this collaboration to include Idemitsu Kosan brings a distribution network for petroleum products, bunkering capabilities and import terminals, Yara said.

"Leveraging the combined strengths of JERA, Idemitsu Kosan and Yara will enable the development of an end-to-end clean ammonia supply chain, which is critical for the decarbonization of Japan's energy, shipping and industrial sectors," Magnus Krogh Ankarstrand, Yara Clean Ammonia's president, said.

"The collaboration with these key players will strengthen Yara's position in the strategically important Japanese market," he said.

Ammonia doesn't emit carbon dioxide during combustion and is seen as an effective future energy source. Blue ammonia is derived from a carbon capture and storage process, while green ammonia is produced from renewable energy. Clean ammonia comprises both blue and green ammonia.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

October 05, 2021 03:17 ET (07:17 GMT)

Yara International ASA (PK) (USOTC:YARIY)
Historical Stock Chart
From Dec 2024 to Jan 2025

Yara International ASA (PK) (USOTC:YARIY)
Historical Stock Chart
From Jan 2024 to Jan 2025