Category: Oceania

OCP Group has launched what it calls the Mzinda-Meskala Strategic Programme, aimed at significantly expanding fertilizer production in the country. Initially announced in December 2022, the program is set to enhance production capacity in two key regions: the Mzinda-Safi Corridor and the Meskala-Essaouira Corridor. This initiative is part of OCP’s broader strategy to meet growing global demand for fertilizers while committing to long-term sustainability goals, including achieving carbon neutrality by 2040.

Methanex Corporation has entered into a definitive agreement to acquire OCI Global’s international methanol business for $2.05 billion. The transaction includes OCI’s interest in two world-scale methanol facilities in Beaumont, Texas, one of which also produces ammonia. The transaction also includes a low-carbon methanol production and marketing business and a currently idled methanol facility in the Netherlands.

Short term supply constraints are dominating acid markets at present, but increasing smelter production across Asia may lead to oversupply in the longer term.

Veolia says that its subsidiary Veolia North America has signed an agreement for the divestment of Veolia North America Regeneration Services, which includes its sulphuric acid and hydrofluoric acid regeneration activities for refineries, to private equity firm American Industrial Partners for $620 million. These activities represented revenues of around $350 million in 2023. The financial closure of the transaction is expected soon. Veolia’s Sulphuric Acid Regeneration Business includes its sulphuric acid and potassium hydroxide regeneration, as well as sulphur gas recovery, and sulphur-based products production businesses.

In its most recent interim report, published on August 15, renewable energy developer Ørsted said that it was abandoning the FlagshipONE renewable methanol project because the anticipated market for green methanol as a marine fuel had not materialised as quickly as expected. The strategic decision comes nearly two years after final investment decision (FID) on the project.

OCI Global says that it has reached an agreement for the sale of 100% of its equity interests in its Clean Ammonia project currently under construction in Beaumont, Texas for $2.35 billion on a cash and debt free basis. The buyer is Australian LNG and energy company Woodside Energy Group Ltd. Woodside will pay 80% of the purchase price to OCI at closing of the transaction, with the balance payable at project completion, according to agreed terms and conditions. OCI will continue to manage the construction, commissioning and startup of the facility and will continue to direct the contractors until the project is fully staffed and operational, at which point it will hand it over to Woodside. The transaction is expected to close in H2 2024, subject to shareholder approval.

Yara to purchase renewable calcium ammonium nitrate (CAN) from Atome

Johnson Matthey (JM) has been selected by HIF Global, as the methanol licensor for HIF Global’s Paysandú eFuels project in Uruguay. The facility would be the largest e-methanol plant in South America and will use electrolytically produced green hydrogen and waste CO2 from an ethanol plant to produce e-methanol. JM’s eMERALD™ technology has been proven as a route to decarbonise methanol production and this technology will be deployed at the HIF facility, with expected production capacity of 700,000 t/a of e-methanol. The methanol will be used to support rapidly growing demand from the marine market, as well as as a feedstock to produce e-gasoline (via a methanol to gasoline process) which will facilitate the decarbonisation of over 150,000 vehicles.

Hanwha Corporation and INEOS Nitriles have announced their intention to collaborate in a study for a new low-carbon ammonia facility with carbon sequestration in the USA, with a capacity of more than 1 million tonnes per annum. The location of the plant is yet to be determined. The two companies have agreed heads of terms, under which Hanwha and INEOS will jointly explore the feasibility of a facility to meet the growing global demand for ammonia with low-carbon emissions. A final investment decision is planned for 2026 with planned commercial operation in 2030.

Topsoe has signed a contract with CF Industries, the world’s largest producer of ammonia, for the licensing and engineering supporting a front-end engineering and design (FEED) study of a new low-carbon ammonia plant in Louisiana. CF Industries is evaluating the project in collaboration with leading ammonia marketer Mitsui & Co., Ltd. The project would produce low-carbon ammonia for use as a decarbonised energy source.