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.
Amogy, GS E&C venture secures NH3 for S Korean power
Amogy, GS E&C venture secures NH3 for S Korean power
London, 8 October (Argus) — US technology firm Amogy and South Korea's GS Engineering and Construction (GS E&C) have agreed to buy 1,500t of renewable ammonia from Lotte Fine Chemical (LFC) for a planned 1MW power plant in Pohang, South Korea. The firms signed the deal through their Amun Energy joint venture, following an initial agreement last month. LFC will supply the ammonia over one year from 2027. The plant will sell power directly to businesses in the surrounding industrial complex. The 1,500t contain about 7,750MWh of energy on a lower heating value basis. At an electrical efficiency of 30-45pc, covering ammonia cracking combined with hydrogen engines or fuel cells, it could generate 2,300-3,500MWh, based on Argus calculations. This equates to a capacity factor of 27-40pc for a 1MW unit. Operating at full load throughout the year would require about 3,800-5,700t of ammonia. The firms have pitched the technology as a source of "round-the-clock power" for industrial sites and data centres, but the contracted volume suggests a gradual ramp-up. The partners plan to expand capacity to 10MW in 2028, with a longer-term target of up to 40MW. Scaling up the first year's contracted supply would imply ammonia demand of 15,000 t/yr and 60,000 t/yr, respectively. At full load, the 10MW plant would require about 38,000-57,000 t/yr, while the 40MW plant would need around 151,000-226,000 t/yr (see table) . A 40MW plant would generate 93-140 GWh/yr at the 1MW unit's implied utilisation, or about 350 GWh/yr at full load. Seoul plans to procure 500 GWh/yr for 2029-44 in its next clean hydrogen power tender. Dedicated ammonia-to-power plants remain eligible after the government ended support for coal-ammonia co-firing in August. LFC received the first export cargo from Envision Energy's renewable ammonia plant in Chifeng, China, earlier this year and is expanding ammonia storage at Ulsan. By Chingis Idrissov Potential ammonia demand and power output for Amun Energy's plants Capacity (MW) Ammonia demand based on first year (t/yr) Ammonia demand at full load (t/yr) Power at first year load (GWh/yr) Power at full load (GWh/yr) 1 1,500 3,800-5,700 2.3-3.5 9 10 15,000 38,000-57,000 23-35 88 40 60,000 151,000-226,000 93-140 350 Calculations assume 18.6 GJ/t ammonia lower heating value, 30-45pc electrical efficiency Argus calculations Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Fertiglobe explores equity in Hamburg ammonia terminal
Fertiglobe explores equity in Hamburg ammonia terminal
London, 14 September (Argus) — Ammonia producer and trading firm Fertiglobe could acquire a stake in Germany-based MB Energy's planned ammonia import terminal in Hamburg, under a recently announced initial agreement. Under the agreement, Fertiglobe will look to supply industrial ammonia buyer Covestro through MB Energy's 600,000 t/yr ammonia import terminal in Hamburg , which is now expected to begin operations in 2028 after various delays. Fertiglobe owns ammonia production assets in Algeria, Egypt and the UAE totalling around 4.4mn t/yr of capacity. The firm has a number of existing offtake deals with ammonia consumers in Europe, and will explore opportunities to supply other industrial buyers through the Hamburg terminal. Fertiglobe also has plans to develop renewable ammonia in Egypt , although a final investment decision on the project has been delayed since 2023. Covestro will use the ammonia as a feedstock in its existing production process, or to meet hydrogen supply requirements. Initially announced plans for the Hamburg terminal suggest it will connect to a cracking facility. Fertiglobe could supply conventional, renewable or low-carbon ammonia, the firm said. MB Energy recently announced the sale of its 1.3mn t/yr ammonia plant in the US Gulf, known as Gulf Coast Ammonia (GCA), to fertilizer producer Yara. MB Energy co-owns the GCA plant with US investment firm Lotus Infrastructure Partners. The Hamburg terminal will still be built and operated by MB Energy, suggesting the company will retain a presence in the ammonia logistics business. By Lizzy Lancaster Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Sabic AN approves FID for new urea, ammonia facility
Sabic AN approves FID for new urea, ammonia facility
Amsterdam, 10 September (Argus) — Saudi Arabian fertilizer producer Sabic AN's board has signed off on a final investment decision (FID) for its new 2.6mn t/yr urea facility, with commercial production set for the fourth quarter of 2030. The facility will also include a 1.2mn t/yr ammonia capacity and post-combustion carbon capture unit. Construction is planned to start in the fourth quarter this year, according to a stock exchange filing. The new facility will boost Sabic AN's annual urea capacity by just over half to 7.4mn t from 4.8mn t. The Saudi energy ministry approved the allocation of gas for the project in late March . Sabic AN is the sole supplier of urea in Saudi Arabia, producing and typically loading out of Jubail, but the war in the Middle East has forced the supplier to also load from Yanbu on the west coast. The firm ships most of its produced urea abroad, and Argus estimates exports of 4.1mn-4.2mn t last year. Sabic AN announced plans at the start of March to incorporate the Ibn Al-Baytar plant to its existing portfolio, adding slightly under 500,000 t/yr capacity, and bringing its overall urea capacity to just over 4.8mn t/yr, Argus estimates. There are two major announced urea projects set for completion by 2030 in the Mideast Gulf currently, excluding Iran, with state-owned producer QatarEnergy intending to build a new complex , doubling its urea production capacity to 12.4mn t/yr. The $3.5bn engineering, procurement and construction contract for the new Sabic AN facility has been awarded to Samsung. By Harry Minihan Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Japan backs coal-led decarbonisation in SE Asia
Japan backs coal-led decarbonisation in SE Asia
Tokyo, 4 September (Argus) — Japan is keen to support "realistic" decarbonization efforts in Southeast Asia while continuing to use coal, delegates heard at the 35th Clean Coal Day International Symposium held in Tokyo on 3 September. Japan will accelerate working together with Southeast Asian countries to support the continued use of coal while reducing carbon emissions, including through ammonia co-firing projects in Malaysia, Takahiro Tajiri, director-general for international affairs at the Agency for Natural Resources and Energy under Japan's ministry of economy, trade and industry Meti, said in a speech at the symposium. Japan has achieved a 20pc of ammonia co-firing with coal during trial operations at the 1GW No.4 coal-fired unit at the Hekinan power plant and aims to raise the co-firing rate to 50pc in the future. Japan can leverage this technology to support Malaysia and other countries in the region, according to Tajiri. Maintaining coal use while reducing carbon emissions through co-firing with renewable fuels such as ammonia and biomass is a "realistic" pathway for many countries, including Japan and those in Southeast Asia, Tajiri said. Coal remains affordable and provides a stable source of energy supply, he added. Japan should help Southeast Asian countries balance energy security and decarbonization through coal-related technologies, including ammonia co-firing, Paul Baruya, director of strategy and sustainability at Future Coal Global Alliance, said at the symposium. Coal has proven to be an alternative fuel to natural gas in many Asian countries when the de facto closure of the strait of Hormuz caused a sudden and unexpected disruption to LNG supply , Yoshikazu Kobayashi, chief economist and director for research strategy and energy security at the Institute of Energy Economics, Japan (IEEJ), said in his speech. By Takeshi Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
