Trammo and Lotte Fine Chemical sign agreement for green ammonia supply
Byon September 22, 2021
Trammo (one of the world’s largest transporters of ammonia) will supply green ammonia to Lotte Fine Chemical (LFC is currently the largest ammonia buyer in Asia) after a new agreement was signed this week. The MoU represents the first green ammonia supply agreement in Korea, and is a critical step in LFC’s development of a Korea-wide ammonia value chain.
After several years of collaboration we are extremely pleased to strengthen further our ties with Lotte Fine Chemical. We have no doubt that both companies share a common vision and a philosophy which will allow our partnership to continuously grow in the years to come, especially in servicing the global decarbonization process and in finding innovative logistic solutions for the marketplace.
Lotte Fine Chemical have been for many years successfully coordinating one of the largest world Ammonia hubs and we are proud to contribute in the expansion of their foot print through an ambitious green ammonia distribution project in KoreaChristophe Savi, Head of Trammo’s Ammonia Division in the official press release, 15 September 2021
We are pleased to reach an agreement for signing MOU of Green ammonia supply with Trammo who is our long term partner. We believe that ammonia will be transferred from the commodity to an important energy source soon, so the supply stability will be more critical for the business than that of today.Henry Yoon, Head of Lotte’s Chemical Division in the official press release, 15 September 2021
Off-take of green ammonia
This is Trammo’s second major green ammonia announcement of 2021. In May Trammo, AustriaEnergy and Ökowind signed an off-take deal for the HNH project: 1 million tonnes of green ammonia per year from a 2 GW wind park in Chile, with production to begin within five years.