South Korean firms plan Queensland ammonia, H2 exports

Market: Fertilizers, Hydrogen
21/09/22

A consortium of South Korean firms have set up a venture in Australia's Queensland state to develop a supply chain to ship more than 1mn t/yr of green ammonia from Australia to South Korea in 2032.

The group comprises mining firm Korea Zinc and its Australia-based subsidiary Ark Energy and conglomerates Hanwha Impact and SK Gas. The partners plan to build upon Ark Energy's Collinsville green energy hub, which plans to develop 3,000MW of renewable energy, said Queensland energy minister Mick de Brenni.

Korea Zinc already has a presence in northern Queensland through its 100pc owned Sun Metals zinc refinery in Townsville, which Korea Zinc plans to operate fully on renewable energy by 2040 and on 80pc renewable energy by 2030. The firm set up Ark Energy in 2021 to help the refinery with its energy transition. Ark Energy has set up the SunHQ hydrogen hub powered by a 124MW solar farm that will power the zinc refinery.

The consortium brings together three major firms in South Korea's hydrogen economy that have a forecast demand for more than 2mn t/yr of green ammonia from 2030, said Korea Zinc vice-chairman Yun B Choi. "We look forward to working with our partners to unlock Australia's potential to become a large-scale producer and exporter of green hydrogen and its derivatives including green ammonia," said Choi.

The latest venture follows the signing last year by Korea Zinc with Townsville port about exporting 120,000t of renewable hydrogen to South Korea from the port.

The Queensland government is keen to promote the state as a potential exporter of green hydrogen and green ammonia. The state launched a A$2bn ($1.34bn) fund to finance renewable energy and hydrogen projects given its potential as a significant producer of solar energy.

Queensland has around 28 projects in the planning stage to produce hydrogen and/or ammonia, largely from renewable energy. South Korean and Japanese firms have been the most active foreign investors in Australia-based hydrogen projects, as both countries have limited capacity to produce green hydrogen and both seek pathways to reduce their greenhouse gas emissions.

By Kevin Morrison

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News

11/10/24

India's Fact extends NPK, NPS tender closing dates

London, 11 October (Argus) — Indian fertilizer importer Fact has pushed back the closing dates of its latest tenders to buy 15-15-15, 10-26-26, and 20-20-0+13S. The tenders sought 40,000t of each product , plus or minus 10pc of the respective quantities, and were due to close on 14 October. Fact has amended the 15-15-15 and 20-20-0+13S tenders' closing dates to 18 October, with the 10-26-26 tender now due to close on 21 October. All three tenders asked for the 40,000t total to be split into two 20,000t cargoes. By David Maher Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Find out more

News

Florida ports, fuel supplies, begin recovery: Update 2

10/10/24

News

10/10/24

Florida ports, fuel supplies, begin recovery: Update 2

Updates more port and terminal conditions, adds daily CBOB/ULSD prices. Houston, 10 October (Argus) — Port Tampa Bay, Florida, docks did not sustain significant damage from Hurricane Milton, the port authority said Thursday, a positive sign for resuming fuel imports into the storm ravaged state. Some port buildings were damaged and power remains out, according to preliminary assessments, but the port docks appear to have escaped major damage, according to the port authority. Many roads leading to the port remain flooded, but the port's main gates are accessible. There is no current timeline for the port's re-opening. Damage to Global Partners' Florida fuel terminals is less severe than the company expected, a spokesperson said Thursday afternoon. Global is loading cargoes from its three Port Everglades terminals. Its Tampa terminal is offline and running on generator power due to power outages, but staff are on site working to restore operations. Kinder Morgan is continuing to assess its terminals and pipeline, a spokesperson said Thursday afternoon. Chevron's Tampa refined products terminal remains closed and damage assessments will begin once crews can safely access the facility, a company spokesperson said Thursday morning. The company's terminals in Panama City and Port Everglades are operational. Citgo said it found no major damage at its Tampa terminal after an initial assessment but a more detailed inspection is ongoing as it works to restore operations. Buckeye, which shut Tampa terminals ahead of the hurricane, did not immediately respond to requests for information on the status of its operations. Tampa spared the worst Florida governor Ron DeSantis said Thursday that Port Tampa avoided the worst-case scenario in terms of storm surge and that eastern Florida ports on the opposite side of the state from where Milton made landfall appear largely undamaged. Nearly half of Florida's supply of petroleum and refined products passes through Port Tampa Bay, the majority via waterborne cargo from the US Gulf coast. Tampa Bay is also the site of major fertilizer operations, including Mosaic's Riverview phosphate plant. The state has 1.5mn USG of diesel and about 1.1mn USG of gasoline available to deploy in its emergency response, DeSantis said. Florida's highway patrol continues to escort fuel tankers making deliveries to gas stations and has completed about 130 escorts after some stations ran dry earlier this week as Floridians stocked up on fuel and evacuated coastal regions. DeSantis said he expects gas stations to reopen "very quickly, at least that's our hope." Prices for Florida CBOB delivered at Tampa and Port Everglades rose by 8.51¢/USG to $2.17/USG today while prices for Florida ULSD rose by 7.09¢/USG to $2.39/USG. Cash differentials in the waterborne ULSD markets and gasoline cargo markets were little changed. About 3.4mn Floridians were without power early today after Hurricane Milton came ashore south of Tampa Bay late Wednesday night as a category 3 storm. Utility crews are assessing the damage from high winds, tornadoes and flooding, and starting to restore power. The number of customers without power dipped below 3mn Thursday afternoon. Restrictions were lifted Thursday at a number of Florida ports closed for the storm, the Coast Guard said, while others are expected to open in the next day. By Nathan Risser and Cooper Sukaly Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Port Tampa Bay begins hurricane recovery: Update

10/10/24

News

10/10/24

Port Tampa Bay begins hurricane recovery: Update

Adds comments from Florida governor, information on fuel supplies. Houston, 10 October (Argus) — Port Tampa Bay, Florida, docks did not sustain significant damage from Hurricane Milton, the port authority said early today, a positive sign for resuming fuel imports into the storm ravaged state. Some port buildings were damaged and power remains out, according to preliminary assessments, but the port docks appear to have escaped major damage, according to the port authority. Many roads leading to the port remain flooded, but the port's main gates are accessible. Florida governor Ron DeSantis said Thursday that Port Tampa avoided the worst-case scenario in terms of storm surge and that eastern Florida ports on the opposite side of the state from where Milton made landfall appear largely undamaged. The state has 1.5mn USG of diesel and about 1.1mn USG of gasoline available to deploy in its emergency response, DeSantis said. Florida's highway patrol continues to escort fuel tankers making deliveries to gas stations and has completed about 130 escorts after some stations ran dry earlier this week as Floridians stocked up on fuel and evacuated coastal regions. DeSantis said today he expects gas stations to reopen "very quickly, at least that's our hope." Port Tampa Bay officials are working with the US Army Corps of Engineers, US Coast Guard and others to assess landside and seaside operations. There is no currrent timeline for the port's re-opening. More than 3mn Floridians are without power today after Hurricane Milton came ashore south of Tampa Bay late last night as a category 3 storm. Utility crews are assessing the damage from high winds, tornadoes and flooding, and starting to restore power. Nearly half of Florida's supply of petroleum and refined products passes through Port Tampa Bay, the majority via waterborne cargo from the US Gulf coast. Tampa Bay is also the site of major fertilizer operations, including Mosaic's Riverview phosphate plant. Chevron's Tampa refined products terminal remains closed and damage assessments will begin once crews can safely access the facility, a company spokesperson said just after 11am ET today. The company's terminals in Panama City and Port Everglades are operational. Fuel terminal operators at Port Tampa Bay such as Citgo, Kinder Morgan, Global Partners and Buckeye Partners told Argus they are currently evaluating their facilities to determine when they can resume operations. Individual port tenants will decide independently when to restart their own activities. By Cooper Sukaly and Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Port Tampa Bay begins hurricane recovery

10/10/24

News

10/10/24

Port Tampa Bay begins hurricane recovery

Houston, 10 October (Argus) — Port Tampa Bay, Florida, docks did not sustain significant damage from Hurricane Milton, the port authority said early today, a positive sign for resuming fuel imports into the storm ravaged state. Some port buildings were damaged and power remains out, according to preliminary assessments, but the port docks appear to have escaped major damage, according to the port authority. Many roads leading to the port remain flooded, but the port's main gates are accessible. Port Tampa Bay officials are working with the US Army Corps of Engineers, US Coast Guard and others to assess landside and seaside operations. There is no currrent timeline for the port's re-opening. Nearly half of Florida's supply of petroleum and refined products passes through Port Tampa Bay, the majority via waterborne cargo from the US Gulf coast. Tampa Bay is also the site of major fertilizer operations, including Mosaic's Riverview phosphate plant. Chevron's Tampa refined products terminal remains closed and damage assessments will begin once crews can safely access the facility, a company spokesperson said just after 11am ET today. The company's terminals in Panama City and Port Everglades are operational. Fuel terminal operators at Port Tampa Bay such as Citgo, Kinder Morgan, Global Partners and Buckeye Partners told Argus they are currently evaluating their facilities to determine when they can resume operations. Individual port tenants will decide independently when to restart their own activities. By Cooper Sukaly and Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

AdvanSix raises amsul values for 4Q

09/10/24

News

09/10/24

AdvanSix raises amsul values for 4Q

Houston, 9 October (Argus) — Major chemicals producers AdvanSix raised its ammonium sulfate (amsul) prices for the fourth quarter on tight amsul supply across the US. The company increased its prices, effective today, by $10-15/st from previous levels. Granular amsul from AdvanSix's Hopewell, Virginia, plant increased by $10/st to $330/st fob. Amsul along upper Mississippi River warehouses rose to $360/st fob while Ohio River and the Granite City, Illinois, warehouse price increased to $355/st fob. Inland warehouses and rail quotes will maintain traditional premiums over river locations, the company said. This price announcement comes on the heels of Interoceanic's price increase, made official on 3 October . By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more