{"id":79586,"date":"2023-09-18T01:00:05","date_gmt":"2023-09-18T01:00:05","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/09\/18\/sawiris-backed-oci-global-signs-an-offtake-agreement-with-us-green-hydrogen-developer-new-fortress-energy\/"},"modified":"2023-09-18T01:00:05","modified_gmt":"2023-09-18T01:00:05","slug":"sawiris-backed-oci-global-signs-an-offtake-agreement-with-us-green-hydrogen-developer-new-fortress-energy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/09\/18\/sawiris-backed-oci-global-signs-an-offtake-agreement-with-us-green-hydrogen-developer-new-fortress-energy\/","title":{"rendered":"Sawiris\u2019 backed OCI Global signs an offtake agreement with US green hydrogen developer New Fortress Energy"},"content":{"rendered":"

<\/a>OCI Global <\/strong>inks offtake agreement in the US:<\/strong> Netherlands-based chemicals producer OCI Global \u2014 in which Egyptian bn\u2019aire Nassef Sawiris owns a 38.8% stake<\/a> \u2014 has signed an offtake agreement with US-based project developer New Fortress Energy (NFE) to purchase green hydrogen from NFE\u2019s planned large-scale green ammonia plant in Texas, according to a statement<\/a> released on Friday. The financial details of the agreement were not disclosed.<\/p>\n

The details: <\/strong>The green ammonia plant will be powered by a 100 MW electrolyzer and the agreement allows OCI Global to increase its green ammonia production capacity to 160k tons per annum, the statement notes. Contractors developing the tech on behalf of NFE \u2014 including Poland\u2019s ZeroParks<\/a> \u2014 are utilizing the proton exchange membrane<\/a> (PEM) technique, which allows for the separation of hydrogen from oxygen.<\/p>\n

Part of larger plans:<\/strong> NFE\u2019s planned project in its Texas-based Zero Parks will have an initial targeted production volume of 80k tons per annum by 2025, with plans to later double the generation portfolio to 160k tons a year later in 2026, the statement notes. The company says it is leveraging incentives in US President Joe Biden\u2019s USD 369 bn inflation reduction act to expand operations in the US. \u201cBy leveraging its existing infrastructure, OCI can scale production to meet growing demand at pace and without significant capital expenditure, while leveraging the incentives offered under the Inflation Reduction Act\u2019s 45V program,\u201d the company notes in its statement. The company plans to double its current 200k ton green fuels production portfolio in Texas alone in the coming years, and says green methanol demand from OCI operations \u2014 aside from other green hydrogen derivatives like ammonia \u2014 will exceed 6 mn tons by 2028, according to a separate statement<\/a>.<\/p>\n

OCI-Fertiglobe\u2019s green hydrogen project in Egypt is up and running:<\/strong> The company began in November<\/a> commissioning of their 100 MW green hydrogen plant in Egypt\u2019s Ain Sokhna, which will generate feedstock for green ammonia production once operational in 2024.<\/p>\n

IN OTHER OCI NEWS\u2013<\/strong> OCI Global now have a six-month permit to refuel ships in Port Said: <\/strong>The SCZone\u2019s board of directors approved on Thursday a six-month renewable permit to OCI Global\u2019s HyFuels<\/a> to provide a green methanol ship bunkering service in the ports of East and West Port Said, according to a statement<\/a> released on Thursday. The SCZone has established a committee to work on creating a new system of bunkering and marine services in Egyptian ports, including setting requirements for granting permanent licenses to practice ship bunkering with green fuels.<\/p>\n

What they said<\/strong>:<\/strong> \u201cWe\u2019re very pleased with this partnership with Egypt and the SCZone following the successful bunkering of the first ever vessel running on green methanol in East Port Said. Egypt will prove to be an important green bunkering hub in the coming years and will play an essential part of our global bunker network,\u201d Bashir Lebada, CEO of OCI Methanol-OCI HyFuels said in emailed statements to Enterprise Climate.<\/p>\n","protected":false},"excerpt":{"rendered":"

OCI Global inks offtake agreement in the US: Netherlands-based chemicals producer OCI Global \u2014 in which Egyptian bn\u2019aire Nassef Sawiris owns a 38.8% stake \u2014 has signed an offtake agreement with US-based project developer New Fortress Energy (NFE) to purchase green hydrogen from NFE\u2019s planned large-scale green ammonia plant in Texas, according to a statement […]<\/p>\n","protected":false},"author":1,"featured_media":79587,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[269],"tags":[11,319,39,480],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-hydrogen","tag-enterpriseclimate","tag-fertiglobe","tag-green-hydrogen","tag-oci-global","wpautop","entry"],"acf":{"mongo_id":"00a88bb9-4713-47e9-b96c-17861b4ab051","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1720.jpg","photo_position":"above","related_issue":[79581],"teaser":"","voice_url":""},"yoast_head":"\nSawiris\u2019 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