Danish GreenGo eyes giant green H2 plant in Mauritania

  • Market: Fertilizers, Hydrogen
  • 11/27/23

Danish renewables firm GreenGo plans to develop a giant renewable hydrogen project in Mauritania that could be one of the largest in the world when it reaches full capacity in the 2030s.

GreenGo's plans for the Megaton Moon project are extremely ambitious, aiming to produce 4mn t/yr of renewable hydrogen using 35GW electrolyser capacity and 60GW of wind- and solar-power generation. This would be roughly 16-18 times the size of Saudi Arabia's Neom project, the largest renewable hydrogen project to reach financial close. The 4mn t/yr of hydrogen could be turned into 18mn t/yr of ammonia, based on the plans.

The venture will be delivered in phases. Production of hydrogen and ammonia could start by 2028 "provided that the project is approved in due time", with full capacity to be reached by 2033, according to head of global Megaton development Anders Heine Jensen. An application for the project has been filed with Mauritania's energy ministry, GreenGo said.

The timeline also appears ambitious, given the plant's scale. Projects of smaller size are targeting full capacity around the same time, including the Hyrasia One venture in Kazakhstan that is envisaged to have 20GW electrolyser capacity on line by 2032.

GreenGo expects the entire Megaton complex to require more than 170,000 hectares of land (1,700km²) — an area larger than London.

Given Mauritania's location, GreenGo is probably eyeing exports to Europe, capitalising on ample solar- and wind-power generation in the country. The cost of producing renewable hydrogen in Mauritania is "half of Northern Europe, potentially lower," GreenGo chief executive Karsten Nielsen said. "The region has some of the most operator-friendly fiscal policies on the continent, as documented by a history of significant oil and gas investments by world energy majors."

The Paris-based IEA recently estimated that renewable hydrogen in Mauritania could be produced for around $2.20/kg by 2030.

Several other large renewable hydrogen projects are planned in the country, albeit none at quite the same scale as GreenGo. Multiple projects being developed in the country could help with establishing joint infrastructure such as for domestic transport and exports.

GreenGo was established in 2011 and has 75GW of renewables, battery energy storage and hydrogen projects in different stages of development, in the US, Europe, Africa and the Middle East. The Mauritanian venture will be financed "through GreenGo Energy's entrenched partnership approach with Tier 1 investors in the green energy space," the company said without revealing investment estimates.


Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

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
02/20/24

Marine fuel global weekly market update

Marine fuel global weekly market update

New York, 20 February (Argus) — A weekly Argus news digest of interest to the conventional and alternative marine fuel markets. To speak to our team about accessing the stories below and access to Argus Marine Fuels , please contact marinefuels@argusmedia.com. Alternative marine fuels 16 February CMA CGM takes first of 10 LNG-fueled vessels France-based shipping company CMA CGM will take delivery of the first of a series of 10 LNG-fueled container ships this month. 16 February Egypt to load 8-10 more LNG cargoes by end-winter: Eni Egypt could load 8-10 more LNG cargoes "before the end of the winter season", Eni said today. 16 February South Korean refiners opt to co-process biofuels A lack of regional mandates and retreating European demand for hydrotreated biofuels this year has pushed back timelines for new capacity start-ups in Asia-Pacific, driving South Korean refiners to favour co-processing rather than standalone biofuel plants. 15 February WSC proposes fossil-green fuel price gap close The World Shipping Council (WSC) proposed a green balance mechanism to close the price gap between conventional and sustainable marine fuels. 15 February Singapore LNG bunker sales at 5-month high Singapore LNG bunker sales reached a five-month high in January, according to data from Maritime & Port Authority of Singapore (MPA), driven by competitive prices compared with conventional marine fuel. 15 February Lake Charles Methanol to build $3.2bn low-CO2 plant Lake Charles Methanol II announced plans to build a $3.2bn plant that will produce low-carbon intensity methanol and other chemicals at the Port of Lake Charles. 15 February Singapore LNG bunker sales at 5-month high Singapore LNG bunker sales reached a five-month high in January, according to data from Maritime & Port Authority of Singapore (MPA), driven by competitive prices compared with conventional marine fuel. 15 February Maritime sector most promising for H2 in transport: HE The maritime sector provides most opportunities for use of hydrogen-based synthetic fuels in the transport sector, according to a survey carried out by industry body Hydrogen Europe. 15 February JBS says its B100 biodiesel has same yield as diesel Global meat producer JBS said that its 100pc biodiesel fuel (B100) — unblended biodiesel — has an energy efficiency equivalent to diesel and emits up to 80pc less carbon dioxide, based on tests on one of its trucks. 15 February Off-spec bio-blends widen pricing spread The range of prices for marine biodiesel blends in Europe has widened as cheaper product that does not meet the region's diesel engine specifications — as defined by the European EN14214 standard — gains market share. 15 February China turns to domestic ammonia output boost Increased domestic production capacity and weaker downstream industrial demand has the potential to weigh on China's ammonia imports this year. 15 February Mabanaft to build green methanol plant in Australia Hamburg-based Mabanaft has received approval to build a new green methanol plant in Port Augusta, located in southern Australia. 14 February Emerging LNG markets to absorb extra supply: Shell Emerging gas markets in China, southeast and south Asia will absorb much of the increase in LNG supply for the rest of this and the next decade, having been constrained by high prices in 2022-23, Shell said in its global LNG outlook, published today. 14 February Avoid offsets, ETS for carbon removals: Study Carbon dioxide removal (CDR) activities should be promoted for the "right reasons" and at the "right scale", and should not be financed through carbon offset credits or included in emissions trading systems (ETS), according to a recent study by the Institute for Responsible Carbon Removal at American University. 14 February Indonesia ammonia production at risk of curtailments Indonesian ammonia producers could be forced to consider production curtailments or outages if southeast Asian loading prices fall much further. 14 February More than 100 US biogas plants to start up in 2024 The American Biogas Council said 96 new biogas projects with a combined production capacity of 66,000 ft³/minute (9.82bn m³/yr) became operational in the US in 2023. It expects over 100 more to start up this year and said output from these will mostly be used for transportation fuel instead of power production. 14 February Chinese yard advances 271,000m³ LNG carrier orders French engineering firm Gaztransport and Technigaz (GTT) has received an order for eight 271,000m³ LNG tanks from a Chinese shipyard, with delivery of the vessels to be fitted with the tanks scheduled between the second quarter of 2028 and fourth quarter of 2029, GTT said. 14 February SE Asian UCO sees limited hit from US fast-food boycott A consumer boycott on US fast food outlets in support of Palestine is affecting some Indonesian and Malaysian used cooking oil (UCO) supplies, but market participants said the overall impact should be limited. 13 February Carnival commissions new LNG-fueled vessel US cruise ship operator Carnival has ordered a newbuild dual-fuel LNG-powered vessel for delivery in spring 2027. 13 February US House readies vote to end LNG review pause President Joe Biden's temporary pause on the review of new US LNG export facilities could face its first congressional test with a vote on a Republican-backed bill that would eliminate federal licensing of those projects. 13 February LNG carrier declares for Greece's Alexandroupolis The TotalEnergies-chartered 174,000m³ Gaslog Hong Kong has declared for arrival at Greece's new 4.3mn t/yr Alexandroupolis import terminal on 15 February, and could deliver the facility's first cargo. 13 February EU hydrogen plan relies on uncertain imports: T&E The EU should not rely on uncertain imports to meet its overly-ambitious hydrogen targets, says a study commissioned by the Brussels-based climate group Transport & Environment (T&E). 12 February Red Sea issues impact European methanol, derivatives Volatility in shipping markets following attacks in the Red Sea is impacting Europe's methanol market indirectly through higher freight rates and has directly impacted European derivative markets, as a result of reduced vessel availability and rerouting. 12 February Qatar taps Nakilat for second phase LNG fleet expansion State-owned QatarEnergy has selected Qatari state-controlled shipowner Nakilat for the ownership and operation of 25 174,000m³ LNG carriers, to be built at an unnamed shipyard in South Korea. 12 February SBTi validates Maersk's GHG emission reduction targets Danish shipping firm Moller-Maersk has become the first company to have its greenhouse gas (GHG) emissions targets validated under new maritime guidance from the UN-backed Science Based Targets initiative (SBTi). 12 February Spanish independent biodiesel producers under pressure Smaller Spanish biodiesel producers remain under pressure from thin margins that are cutting profits and shutting in some output. They are not being supported by domestic demand, which fell to a seven-year low in 2023. 12 February Mabanaft to apply for ammonia import terminal permit German energy trading firm Mabanaft expects to submit a permit application for its planned 1.2mn t/yr ammonia import terminal at Hamburg in the spring of this year. Alternative marine fuels 16 February Fujairah bunker premiums weaken as ships reroute Delivered bunker premiums have fallen in Fujairah, UAE, the world's third largest bunkering centre. Demand has weakened in recent weeks as a result of route diversions, stemming from the tense security situation in the Red Sea. 16 February US Gulf coast fuel oil spreads widest in 11 months Sulphur spreads between US Gulf coast residual fuel oil grades have reached the widest in 11 months, but that could change as refinery turnarounds likely wind down by late February or early March. 16 February Brazil's Paranagua cargo handling rises in January Cargo handling in Brazil's southern Paranagua and Antonina ports increased by 20pc in January from the same month last year, driven by higher exports and imports. 16 February Brazil's Paranagua port seeks to reach net zero by 2035 Brazil's port of Paranagua is working on a decarbonization plan for delivery by the end of 2026 to help it reach net zero balance greenhouse gas (GHG) emissions by 2035 by developing renewable energy sources such as biogas and hydrogen. 16 February Tanker targeted in Red Sea A Panama-flagged tanker was targeted by a missile in the Red Sea today around 72 miles northwest of Mokha, Yemen, according to security firm Ambrey. 16 February Japan's NYK taps demand for chemical tankers Japanese shipping company Nippon Yusen Kaisha (NYK Line) plans to receive six chemical tankers from late 2026 to 2029, in anticipation of potential demand growth for petrochemical products. 15 February Upper Mississippi ice report canceled on warm weather An annual government ice measurement program for shipping on the upper Mississippi River was canceled this year because of unseasonably warm weather. 15 February Scorpio Tankers upbeat on clean tanker rates New York-listed Scorpio Tankers said it expects strong market fundamentals to keep clean tanker freight rates elevated, even if disruptions to trade flows dissipate. 15 February Magellan Corpus Christi terminal doing maintenance US crude and refined products pipeline operator Magellan Midstream reported maintenance at its Corpus Christi, Texas, marine terminal. 15 February ARA oil products stocks increase on weaker demand Independently-held oil product stocks at the Amsterdam-Rotterdam-Antwerp (ARA) trading hub hit their highest since mid-August, reaching 5.67mn t in the week to 14 February, according to consultancy Insights Global, as demand in the region slowed down. 15 February Panama Canal freezes customer priority ranking The Panama Canal Authority (ACP) will freeze its customer priority ranking used to secure transit slots while temporary water-saving measures remain in place. 15 February Singapore's oil product stocks inch higher Singapore's overall oil product inventories inched upwards, driven by a surge in middle distillate imports, despite both light and heavy distillate stocks falling close to a 2½ month low, showed latest data from Enterprise Singapore. 14 February Petrobras working to rebuy refinery: CEO Brazil's state-controlled Petrobras is in talks with Abu Dhabi's Mubadala to buy the 300,000 b/d Mataripe refinery back, Petrobras' chief executive Jean Paul Prates said on social media. 14 February HSFO Med/NWE spread reaches near seven-month high High-sulphur bunker fuel in the west Mediterranean moved to its strongest premium to northwest Europe this week as attacks by Houthi rebels squeeze supply. 14 February Vitol can do with Saras what Saras cannot do alone Vitol's takeover of Italian independent refiner Saras, set in motion this week, could turn the latter into a specialised tool within the trading company's diverse business, while giving it a stronger footing to compete with rival Trafigura in Mediterranean oil markets. 14 February South Korea lifts 2023 light distillates output South Korean refiners increased light distillates production in 2023, while gasoil output fell. 13 February BP terminals low on fuel due to Whiting refinery outage BP told wholesale fuel customers it is buying refined products on the market to meet contractual obligations amid the continuing outage of its 435,000 b/d Whiting, Indiana, refinery. 13 February Outages hit Ecuador's 2023 refinery production Ecuador's three oil refineries of Esmeraldas, La Libertad and Shushufindi processed an average 146,235 b/d of crude in 2023, down by 5.3pc compared with the previous year, according to operator state-owned Petroecuador's data. 13 February Japan's bonded marine fuel sales fall in 2023 Japan sold less bonded marine fuel in 2023 compared with a year earlier, pressured by limited supply from domestic refineries owing to a series of disruptions. 12 February Suriname refinery undergoing 7-week turnaround Suriname's state-owned oil company Staatsolie's 15,000 b/d Tout Lui Faut refinery will undergo a seven-week turnaround starting on 16 February, Staatsolie said. 12 February US refiners shrug off dip in earnings US refiners' fourth-quarter financial results so far reveal a dip in earnings from the bumper profits of 2022, but the sector remains on a profitable footing and confident. 12 February India's MRPL plans refinery maintenance in Aug-Sep Indian state-controlled refiner MRPL plans to conduct a maintenance turnaround at one unit of its 311,000 b/d Mangalore refinery for around three weeks during August-September, a top official from the company told Argus. 12 February Atlantic basin diesel faces tight spring European diesel markets could be facing a tight spring as refinery maintenance and disruptions in the Red Sea make resupply difficult and expensive. Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Read More
News

Houthi missile hits Saudi fertilizer vessel off Yemen


02/20/24
News
02/20/24

Houthi missile hits Saudi fertilizer vessel off Yemen

London, 20 February (Argus) — The crew members of the Belize-flagged Handysize bulk carrier Rubymar , carrying a cargo of Saudi fertilizer, have abandoned ship off Yemen after it was hit by a missile fired by Houthi militants late on 18 February. The British-owned vessel was in the Gulf of Aden near the Bab el-Mandeb strait when it was hit by at least one missile while another missed its target, according to US Central Command. The UK Maritime Trade Operations (UKMTO) said it had received reports of an attack 40 miles (about 64.4km) south of Mokha, Yemen, on an unnamed vessel. US Central Command confirmed that the Rubymar sustained damage and then issued a distress call that was answered by a coalition warship and another merchant vessel. The crew was evacuated safely and have been transported to the port of Djibouti, according to the Djibouti Ports and Free Zones Authority. The Rubymar was last located on vessel-tracking data in the Bab el-Mandeb strait between Yemen and Djibouti. The UKMTO said the vessel was at anchor and had been abandoned. A Houthi social media statement said the ship was at risk of sinking. The vessel departed the Saudi port of Ras al-Khair on 8 February and was bound for Varna, Bulgaria, on the western edge of the Black Sea, vessel-tracking data show. It was due to arrive on 27 February. There has been no confirmation as to what grade of fertilizer was on board, although vessel-tracking data do list fertilizers as the cargo. Bulgaria in the past has imported NP grades from Saudi Arabia. A spokesperson for the Saudi producer declined to comment on any aspect of the incident. The size of the vessel would indicate a cargo of about 30,000t. This is the second confirmed major strike on a vessel carrying fertilizer in the region. In mid-January, the US-owned Genco Picardy , carrying a cargo of 30pc P2O5 phosphate rock from Egypt to India, came under drone attack by Houthi militants. This caused a fire onboard that was extinguished and the vessel proceeded to Thoothukudi. By Mike Nash Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

EU industry leaders want support for green shift


02/20/24
News
02/20/24

EU industry leaders want support for green shift

London, 20 February (Argus) — A group of over 70 industry leaders today called for a competition-based deal to ensure the bloc's industry can continue competing globally while implementing the EU's green deal. The green deal aims to cut greenhouse gas emissions by 55pc by 2030, compared with a 1990 baseline. Among 10 points listed in a declaration signed in Antwerp, Belgium, industry leaders called for streamlined legislation, simplified state aid rules and a "new spirit of law-making" to incentivise investment as well as "cohesive" policy implementation. The signatories came from various sectors, including steel, chemicals, paper, mining, glass, metals, refineries, cement, fertilisers and industrial gases. Energy costs in Europe are "too high to compete", driven not only by commodity prices, but also by regulatory charges, according to the signatories. The next European Commission leadership needs to prioritise new projects for "abundant and affordable low-carbon renewable and nuclear energy" as well as grid expansion for hydrogen and other renewables, according to industry leaders. "Climate neutrality cannot be met without renewable liquid fuels and products," according to Liana Gouta, director-general of refiners' association FuelsEurope. "These renewable fuels and products should be produced in Europe." Gouta called for an EU strategy for the transition of liquid fuels and products to help shift industry from fossil fuels to renewable fuels and products. "We want to avoid dependence on third countries, de-industrialisation," director-general of steel association Eurofer Axel Eggert said. Eggert also called for a robust trade policy to ensure a level playing field. The declaration is timed ahead of EU elections in June that will see a newly-constituted European Parliament and new European Commission. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

Egypt’s Helwan signs deal to produce black urea


02/20/24
News
02/20/24

Egypt’s Helwan signs deal to produce black urea

London, 20 February (Argus) — Egyptian urea producer Helwan has signed an agreement with SML-INNO UK to produce 130,000 t/yr of black urea. Production is expected to start in 5-6 months. The agreement was signed on 18 February. Helwan said that black urea, a slow-release fertilizer, should boost crop growth while using 25-30pc less nitrogen than conventional urea. The Egyptian producer did not provide additional details regarding the production process. The project, which will target European and UK markets, is likely to cost $5mn. Helwan currently operates a 635,000 t/yr granular urea facility. By Dana Hjeij Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

News

UK steel decarbonisation strategy 'piecemeal': E3G


02/20/24
News
02/20/24

UK steel decarbonisation strategy 'piecemeal': E3G

London, 20 February (Argus) — The UK government's steel decarbonisation strategy is "piecemeal" and lacks a broader industrial policy, independent climate change think-tank E3G said today. It said the UK is "not far behind" European counterparts with steel decarbonisation, citing deals to transition current blast furnace-based sites, implementation of a carbon border adjustment mechanism and tightening emissions trading allowances. But the UK has made little progress on power grid expansion, and has been slow to develop demand-side mechanisms, E3G said. It is vital that electricity costs are brought down for industrial users, which will otherwise face "fierce" competition from overseas producers that pay less for power. The government should also move to increase steel scrap processing and establish supply of hydrogen and green iron — without adequate scrap supply, a 100pc EAF-based sector will rely on imports, E3G said. The think-tank said the government should establish a long-term strategy "that includes a vision for the future role of the steel sector in the UK economy and how it will be integrated in other UK manufacturing sectors". Just becoming a secondary steelmaker will mean the country cannot produce all the requisite grades for its automotive industry, it added. "There is a risk that without the ability to produce a diverse suite of products, some steel companies may suffer from negative commercial outcomes from weaker business models," it said. In its steel policy scorecard comparison, E3G rated the UK C+ for its policy direction and clarity, and B- for its public funding. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.