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.
Sungrow, CRRC to provide tech for Kenya green NH3 plant
Sungrow, CRRC to provide tech for Kenya green NH3 plant
London, 24 March (Argus) — Chinese electrolyser manufacturers Sungrow Hydrogen and CRRC Zhuzhou have secured electrolyser supply contracts for the first phase of a geothermal-powered hydrogen and ammonia project in Olkaria, Kenya, developed by Chinese firm Kaishan Group. Kaishan signed a steam supply agreement with state utility KenGen in October 2025, under which KenGen will supply steam from existing geothermal wells for Kaishan to generate 165MW of electricity to power the electrolysers. Chinese firm Wuhuan Engineering is serving as engineering, procurement and construction contractor. Works on the site began in November 2025. Sungrow will supply 16 alkaline electrolysers rated at 1,000 Nm³/h each, while CRRC will provide eight units of the same rating, giving phase 1 a combined capacity of 24,000 Nm³/h, or around 120MW. This is sufficient to produce roughly 19,000 t/yr of hydrogen assuming continuous operation, which will be converted to the 100,000 t/yr of ammonia planned for phase 1. Kaishan plans to scale to 200,000 t/yr of ammonia at full build-out, with output processed into 480,000 t/yr of green fertilisers comprising 180,000 t/yr of urea and 300,000 t/yr of calcium ammonium nitrate. Kenya's government will offtake the fertiliser for distribution to local farmers to reduce import dependence. Total investment stands at around $800mn, with annual revenues projected at $220mn-250mn over a 25-year operating life, Kaishan said previously. Geothermal power offers a significant advantage for electrolytic hydrogen production, with capacity factors of around 90pc enabling near-continuous baseload operation without the intermittency or energy storage costs associated with solar and wind. Kenya's energy department estimates the country holds 10GW of geothermal potential, with only around 950MW of installed capacity to date. Chinese electrolyser makers have been increasing their equipment exports in recent months, supplying to projects in Europe, Middle East and Asia-Pacific. Sungrow delivered 160MW of alkaline electrolysers to Acme's green ammonia project in Oman , a 3MW containerised PEM system for Italy's MW-scale solar-to-hydrogen project , and a containerised alkaline system to a green hydrogen blending project in Brazil. By Chingis Idrissov Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
CIP, Hy2Gen cancel renewable ammonia project in Norway
CIP, Hy2Gen cancel renewable ammonia project in Norway
Paris, 9 March (Argus) — Danish renewables developer Copenhagen Infrastructure Partners (CIP) and German hydrogen company Hy2Gen have cancelled a 240MW renewable hydrogen and ammonia project in Norway. The Iverson eFuels project, planned for Sauda, in southwest Norway, lost its grid access. Norwegian power system operator Statnett decided in late 2025 to withdraw a previously allocated 270MW of electricity capacity because project development was more than two years delayed compared to original plans, Iverson said. When the Iverson project was announced in 2022 , the companies expected construction to begin in 2024 and operations to start in 2027, targeting production of 200,000 t/yr of renewable ammonia. Statnett said that new capacity could be available only once the grid is upgraded, which is expected in 2033-2035. "Such an uncertain situation" about securing grid capacity "is not compatible with further development of the project," Iverson said. The project partners will assess possible development of a data centre project at the Sauda site "so that the work and resources invested in the Iverson project can be utilised to create new activity", they said. By Pamela Machado Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Ammonia vessels reroute from Mideast Gulf
Ammonia vessels reroute from Mideast Gulf
London, 5 March (Argus) — Ammonia carriers are starting to reroute away from the Mideast Gulf as the ongoing US-Israel war with Iran prevents vessels from transiting the strait of Hormuz, choking off more than one fifth of the world's ammonia supply. The Nova Breeze (25,500t) under operation by Japanese trader Mitsui has rerouted from its previous destination of Mesaieed, Qatar, after state-owned QatarEnergy halted production of ammonia and other products on 3 March. The shutdown came after a done strike on operating facilities in Ras Laffan and Mesaieed Industrial City. The vessel will now load next at Bontang in late March and is expected to deliver the cargo to Tampa in the US Gulf for Mosaic. OCP's Navigator Jorf (25,500t) had been due to load at Ras Al Khair in mid-March from Saudi Arabian producer Maaden. The vessel was heading towards the Cape of Good Hope but has turned around in the south Atlantic Ocean, vessel-tracking data show. Its next destination is not yet known. Trading firm Trafigura was expected to load its Astor (26,870t) at Jubail, Saudi Arabia, in March and is likely to now be exploring other options. The vessel is currently by Kandla, India. Maaden and fellow producers Sabic and OQ are all still producing in the Middle East, although Oman's state-owned OQ has had to reduce run rates for safety reasons. Limited port operations at Salalah have resumed . Salalah may be the only Mideast Gulf port able to export any ammonia while the war continues. But whether individual vessels will be able to load at Salalah will likely depend on owners' risk appetite and war risk premiums. Laden vessels Eco Oracle (26,870t) and Green One (25,800t) remain trapped inside the Mideast Gulf without any way to transit past the strait of Hormuz. Maaden's Searambler (25,500t) was due to load at Ras Al Khair in early March for shipment to Iffco at Kandla. The buyer is seeking alternative supply arrangements while the vessel remains idle in the Mideast Gulf. Efforts by US president Donald Trump to guarantee safe passage and political risk insurance for vessels have not been sufficient to reassure vessel insurers and operators, meaning that more than 4 mn t/yr from producers in Saudi Arabia, Qatar, Bahrain, UAE and Iran is currently cut off from global markets. By Lizzy Lancaster Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
ME ammonia futures rise to $590/t fob for April
ME ammonia futures rise to $590/t fob for April
London, 3 March (Argus) — Ammonia future prices have increased in the wake of the US-Israel conflict with Iran. The SGX Argus ammonia fob Middle East futures contract (AMMF) traded at $590/t fob for a 1,000t clip today. AMMF last traded at $446.50/t fob Middle East for a December-April strip. European ammonia futures surged on 2 March in anticipation of a potential disruption to global supply as a result of the escalating Middle East conflict. A 1,000t April clip traded at $725/t cfr duty free/paid on the Ice Ammonia Outright — Argus Ammonia northwest Europe contract, a $130/t increase from where the April contract last traded on 17 February. By Ruth Sharpe Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
