Ammonia
Market moving insight on clean and conventional ammonia – delivering robust price assessments, actionable commentary, powerful data, vital analysis and outlooks
Overview
The ammonia market is undergoing a period of rapid and dramatic change. Conventional or ‘grey’ ammonia is traditionally produced almost exclusively for its nitrogen content. However, the urgent need to decarbonise the global economy and meet ambitious zero-carbon goals has opened up exciting new opportunities.
Ammonia has the potential to be the most cost-effective and practical ‘zero-carbon’ energy carrier in the form of hydrogen to the energy and fuels sectors. This has led to rapid growth of interest in clean ammonia and a flurry of new ‘green’ and ‘blue’ ammonia projects.
Argus has many decades of experience covering the ammonia market. We incorporate our multi-commodity market expertise in energy, marine fuels, the transition to net zero and hydrogen to provide existing market participants and new entrants with the full market narrative.
Our industry-leading price assessments, powerful data, vital analysis and robust outlooks will support you through:
- Ammonia price assessments (daily and weekly), some of which are basis for Argus ammonia futures contracts, Ammonia forward curve data and clean ammonia cost assessments and modelled weekly prices
- Short and medium to long-term forecasting, modelling and analysis of conventional and clean ammonia prices, supply, demand, trade and projects
- Bespoke consulting project support
Latest ammonia news
Browse the latest market moving news on the global ammonia industry.
Jera's option to reduce stake in US NH3 project expires
Jera's option to reduce stake in US NH3 project expires
London, 14 January (Argus) — Japanese power producer Jera has not exercised a right to reduce its ownership stake in fertilizer producer CF Industries' planned $4bn carbon capture and storage (CCS) enabled ammonia facility on the US Gulf coast, known as Blue Point. The 1.4mn t/yr plant is a joint venture between CF, Jera and Japanese trading firm Mitsui. CF holds 40pc, Jera 35pc and Mitsui 20pc in the development. Jera had an option to reduce its stake below 35pc to a minimum of 20pc, with CF having to increase its stake by the same amount that Jera reduced its holding. That option expired on 31 December 2025 and can no longer be exercised, according to a report that CF filed with the US Securities and Exchange Commission in January. Jera's decision to retain its 35pc stake comes soon after it was selected to receive subsidies from the Japanese government's hydrogen and ammonia contracts for difference (CfD) scheme on 19 December. Mitsui was also selected for 15-year government subsidies under the CfD scheme's second round. Partners of the Blue Point venture will have offtake rights according to the size of their stake in the project, meaning that Jera will export around 490,000 t/yr from the Louisiana plant to Japan. Most volumes will be used for ammonia co-firing at its 1GW No.4 unit at the Hekinan coal-fired power plant in Japan, which the firm has said is on track to reach a sustained 20pc co-firing rate in 2029. Blue Point's first volumes are also expected in 2029 following a final investment decision in April . Jera retaining its 35pc stake in the project is a positive sign for the developing low-carbon ammonia industry after multiple recent setbacks. Indications that South Korea's new government could push away from ammonia co-firing had undermined some confidence in the future of ammonia co-firing in Asia, while delays to the International Maritime Organisation's net-zero framework has slowed investment decisions in the maritime sector. Funding cuts for low-carbon initiatives, particularly in the US, and slim demand signals, have seen a spate of project cancellations in recent months, with the latest cancellation announced as recently as last week. By Lizzy Lancaster Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Romgaz still open to buy ferts producer Azmoures
Romgaz still open to buy ferts producer Azmoures
London, 14 January (Argus) — Romanian state-owned natural gas company Romgaz remains interested in acquiring fertilizer producer Azomures, but will consider investing in other Romanian fertilizer projects. Romgaz has made an offer for the company and remains "open to an honest and coherent dialogue" concerning an acquisition, the company said today. Azomures said earlier this week that it was mothballing production after negotiations with Romgaz stalled. Azomures has not produced fertilizer since August 2024 , barring small-scale production in the second half of last year . The company, currently owned by Switzerland-based trading firm Ameropa, can produce up to 1.6mn t/yr of NPK and nitrogen fertilizers, and consumes around 1bn m³/yr of gas when operating at full capacity. Around three-quarters of its production is sold on the Romanian domestic market. Romgaz first expressed interest in Azomures in February and an acquisition was presented as the best solution for Romanian farmers. By Aidan Hall Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Uniper signs binding 500,000 t/yr Indian green NH3 deal
Uniper signs binding 500,000 t/yr Indian green NH3 deal
Hamburg, 12 January (Argus) — German utility Uniper has signed a binding long-term offtake agreement for 500,000 t/yr of renewable ammonia from Indian developer AM Green's planned 1mn t/yr plant at Kakinada in Andhra Pradesh. First deliveries — which will meet the EU's definition of renewable fuels of non-biological origin — are expected as early as 2028, Uniper said. The company did not specify the contract duration. The deal is "the first of its kind for an Indian company", Uniper said. It follows years of talks after the two firms announced a non-binding agreement for 250,000 t/yr in early 2023. AM Green took a final investment decision on the plant in August 2024. The firm said the project will come online in two phases, with the first 500,000 t/yr commissioned before a second phase adds another 500,000 t/yr within 6-9 months. The timeline was pushed back from initial expectations to align with EU regulations and offtake commitments, chief executive Gautam Reddy Kumbam said in July 2025. AM Green has also signed preliminary agreements with BASF , RWE , Norwegian fertilizer producer Yara and Singapore's Keppel. Uniper said the deal marks a "significant step forward in developing a diversified portfolio of renewable and low-carbon molecules for European customers". The utility is developing its own hydrogen production sites across Europe and plans an ammonia import and cracking facility at Wilhelmshaven in northern Germany. By Stefan Krümpelmann Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
CBAM suspension for ferts would be 'surprising': Yara
CBAM suspension for ferts would be 'surprising': Yara
London, 9 January (Argus) — Norwegian fertilizer giant Yara is not expecting a suspension of the European Union's Carbon Border Adjustment Mechanism (CBAM) for fertilizer products, despite recent confusion. The Commission is set to issue further guidance around provisions that could allow for the temporary suspension of the CBAM with retroactive application from 1 January 2026, according to a statement issued on 7 January , which created some confusion as to whether the carbon levy will remain in place. "To remove [CBAM] 7 days after implementing it… would undermine what it was meant to do" Yara said during the firm's Capital Markets Day presentation. Article 27a, included within proposals issued last month, stipulates a temporary suspension could be issued if CBAM causes "severe harm to the Union internal market due to serious and unforeseen circumstances related to the impact on the prices of goods". But the impact to prices of carbon intensive goods has always been expected, Yara pointed out. "It's been crystal clear that the carbon cost will be reflected in the cost of the product. The additional carbon cost is based on the commission's own methodology and default values, so this cannot be a surprise or an emergency, this is exactly what it was supposed to do", Yara chief executive Svein Tore Holsether said. A suspension on the grounds of increased cost would therefore be surprising, he indicated. CBAM has also been designed to coincide with the phasing out of free allowances for domestic industry emitters under the EU's emission trading system (ETS). "Suspending CBAM, while continuing the reduction of EU ETS allowances, will reduce the competitiveness of EU producers," Holsether said. "The intention of CBAM was to... mirror the cost that the European industry has been subject to for a number of years", he added. Yara has built a ‘quota bank' of 6mn EU ETS quotas through its emission efficiency investments which it can use against its own emissions or sell back into the market, equating to a value of around $500mn, according to the firm. Yara also plans to limit its CBAM exposure through investments or supply agreements with low-carbon ammonia production assets outside of Europe, such as the firms proposed partnership with Air Products But a suspension of CBAM would mean "we likely wouldn't have the return required on a US blue [low-carbon] project", Holsether said. Any weakening of CBAM instead "risks opening the door to carbon-intensive imports, eroding Europe's industrial base, and jeopardising food security". CBAM revenues should instead be used to create incentives to help farmers while making emitters pay, Holsether said. The Commission's 7 January statement also proposed a removal of duties on imports of ammonia and urea to help offset some of the additional costs associated with CBAM, and included details on a €48bn package of measures to aid farmers. But critics say the measures are not sufficient to support Europe's agri-food industry with additional costs, particularly while fertilizer prices are already 60pc higher than in 2020. The EU's CBAM took full effect on 1 January, imposing a carbon levy for certain goods imported into the EU. Ammonia and all fertilizers containing nitrogen from countries that are not already subject to the EU emissions trading system (ETS) or a system fully linked to the EU ETS are within scope. By Lizzy Lancaster Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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