Chile signs green H2 agreement with EU ports

Spanish Market: Hydrogen
09/11/21

Chile struck a preliminary agreement with Belgium's Antwerp and Zeebrugge ports to facilitate future green hydrogen exports to the EU.

The deal comes after a meeting of Chile's energy minister Juan Carlos Jobet, Belgian energy minister Tine Van der Straeten and port representatives at the Cop 26 climate summit in Glasgow, Scotland.

It is aimed at ensuring international market channels for green hydrogen that Chile says it will supply at the world's most competitive prices, thanks to extensive solar and wind energy, and complement Santiago's earlier accords with Singapore and Rotterdam.

Chile's energy ministry forecasts $15bn in green hydrogen investment by 2030 in more than 60 projects, of which 15 have a start date for operations. By 2030, Chile expects to produce 1.2mn t/yr, of which 500,000 t/yr would be absorbed by domestic industries, including mining and steel.

Among the newest initiatives is a project to replace diesel with green hydrogen in the FCAB cargo railway serving northern Chile's extensive copper-mining industry.

Chile has pledged to reach climate neutrality by 2050.

Cloudy climate

The South American country's growing international climate credentials contrast with political volatility at home. Less than two weeks before general elections, the lower house of congress this morning approved a constitutional accusation against center-right president Sebastian Piñera for illicit gains from the 2010 sale of shares in a Chilean mining project. The accusation now shifts to the senate, where opposition parties are unlikely to marshal the required two-thirds of votes required to remove him.

Piñera's allies say the accusation is a political maneuver to discredit the ruling coalition ahead of 21 November elections.

According to recent polls, the two leading presidential candidates are far-left Gabriel Boric and far-right José Antonio Kast, with centrist rivals further behind. None is likely to jettison the government's hydrogen strategy, but contrasting platforms could cloud investment conditions regardless of who wins. A run-off ballot is likely in December.

By Patricia Garip

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13/11/25

Plug Power warns pausing DOE activities risks loan

Houston, 13 November (Argus) — US hydrogen and electrolyzer manufacturer Plug Power warned investors that suspending activities related to its Department of Energy (DOE) loan guarantee carries a risk of losing access permanently to the low-cost federal financing. "Our decision to temporarily suspend activities related to the DOE loan could adversely affect our access to low-cast capital, delay project execution, and expose us to potential termination or modification of the DOE loan guarantee," the company said in a 10-Q form filed earlier this month with the Securities and Exchange Commission. Plug Power announced this week that it was suspending activities related to the $1.7bn loan guarantee while it considers reallocating capital away from previously announced plans. The loan facility, granted in the final days of the outgoing administration of President Joe Biden, was supposed to have financed the development of up to six green hydrogen plants in the US. However, all of those activities were put on hold after the administration of President Donald Trump paused clean energy commitments made under Biden pending further review. After months of engaging with Trump's DOE , Plug Power suspended activities related to the loan in November, including "projects previously contemplated in New York and Texas," according to the filing. Suspending activities on the projects may result in the DOE terminating the loan guarantee commitment if the agency determines Plug Power is not meeting required conditions or projected milestones, the company said. Plug Power has spent $250mn so far on the $800mn Texas project and expected to cover $400mn with the DOE loan. The company had been seeking an equity partner to make up the remainder of the cost. Since suspending the activities, Plug Power has announced a spate of deals to raise liquidity and pivot away from federal support, including joint development projects with renewable fuel producers, international electrolyzer deals, and signing away electricity rights to raise cash. Plug Power did not respond to a request from Argus for comment. By Jasmina Kelemen Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Ammonia viable bunker fuel under IMO plan: Fortescue

13/11/25

Ammonia viable bunker fuel under IMO plan: Fortescue

Sydney, 13 November (Argus) — Ammonia could emerge as a cost-effective alternative to conventional bunker fuels under the International Maritime Organization's proposed carbon levy and reward system, according to Australian mining firm Fortescue. The IMO first drafted its net-zero Framework in April 2025 aiming to achieve net zero by 2050 — by penalising vessels that emit above a set emission threshold and rewarding those below the threshold for adopting low-carbon fuels. Details on the rewards and penalties have yet to be finalised after a meeting to adopt the draft amendments was stalled last month due to pressure from some member states, including the US. A new meeting has been scheduled for October next year. The industry is hopeful the IMO's net-zero framework will be adopted, as it could help offset high costs for low-carbon fuels such as green ammonia, Fortescue project manager Matthew Garland said at the Low Carbon Fuels and CCUS Summit on 5 November in Perth. Fortescue currently uses very-low sulphur fuel oil (VLSFO) in its bulk carriers transporting iron ore to China. But the use of VLSFO for marine bunkering could become more expensive if the IMO introduces penalties for its usage. These penalties are projected to raise around $11-12bn annually by 2030, which the IMO plans to redistribute as incentives for lower-emission fuels. Green ammonia, a lower-emission alternative to VLSFO, remains costly due to its lower energy density, which means ships require about 2.2 times more ammonia than VLSFO, plus a small amount of pilot fuel, Garland said. Under the IMO's proposed carbon rewards, green ammonia could receive up to A$1,000/t ($656/t) in incentives, potentially bringing it close to cost parity with VLSFO under Fortescue's cost modelling. An ammonia vessel could achieve a maximum emissions reduction of 70pc if it uses the lowest-emission green ammonia continuously, Fortescue said. The company is already testing ammonia as a marine fuel with its Green Pioneer dual-fuel vessel , which completed a voyage from the Netherlands to southern France using ammonia bunkered at Rotterdam earlier this year. Australian miner BHP and China's largest shipping company Cosco have signed a deal to charter two ammonia-dual-fuelled bulk carriers , BHP announced in July. The vessels are expected to be delivered in 2028. But these are not necessarily using the lowest-emission ammonia. Australia's current green ammonia production is negligible, as the vast majority is produced from fossil fuels. But the Australian federal Labor government awarded A$814mn in production credits under its Hydrogen Headstart programme to Murchison Green Hydrogen for its planned 900,000 t/yr green ammonia plant in Western Australia (WA) earlier this year. By Grace Dudley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

CBAM price method, verification drafts leaked

11/11/25

CBAM price method, verification drafts leaked

London, 11 November (Argus) — The certificate price for EU's carbon border adjustment mechanism (CBAM) will be calculated using prices from all auctions under the EU emissions trading system (ETS), a draft implementing act prepared by the commission and seen by Argus suggests. Another leaked draft on verifiers suggests that the European Commission may allow verifiers to conduct virtual site visits, provided certain conditions are met. The CBAM certificate price will be a volume-weighted average of all auctions under the EU ETS, including allowances auctioned by all auctioneers, by member states through an opt-out platform, as well as by the bloc's funds and third countries through the common auction platform, according to a draft implementing regulation. The calculation of the CBAM certificate price will be based on auction clearing prices. The calendar weekly or quarterly price averages will be used in such calculations "for the sake of simplicity", determined in euros and rounded to two decimals, the draft said. The commission will determine the CBAM certificate price "as soon as possible", once all the necessary information is made available to it. One single price "should only be published by the Commission," according to the draft. It will be publicly available on the commission's website "in a directly accessible manner and free of charge". The price will also be available to authorised CBAM declarants' accounts in the CBAM registry. The regulation provides a method for calculating CBAM certificate prices on a quarterly basis for 2026 and a weekly basis from 2027 onwards. The commission will announce the quarterly price within the first calendar week following the related calendar quarter. Quarterly prices will be made available to authorised declarants in the CBAM registry from the third quarter of 2026. From 2027, the commission will publish CBAM certificate prices on the first working day following the week relevant for the calculation. Separately, another draft act on the verification of embedded emissions data suggests accredited verifiers will have the option to replace a physical site visit by a virtual one every other year, without being subject to approval by competent authorities. A physical site visit will still be required for the first year, subject to verification, and physical site visits should occur at least every two years, according to the draft. A verifier can also conduct a virtual visit, should a physical one be impossible due to "serious, extraordinary and unforeseeable circumstances". A single electronic template will be developed by the commission and be made available to all verifiers for use. Verifiers may waive the obligation to conduct a physical site visit of a power-generating installation, provided that a set of conditions are fulfilled, according to the draft. By Erisa Senerdem Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Cop: IMO pushes forward with carbon pricing

10/11/25

Cop: IMO pushes forward with carbon pricing

Belem, 10 November (Argus) — External politics rather than any failure of the International Maritime Organization (IMO) led to the delay in adopting a greenhouse gas (GHG) emissions pricing mechanism for global shipping, proposal supporters said on Monday. IMO members last month voted to delay the adoption of the Net-Zero Framework (NZF) by a year, despite some of those backing the delay previously supporting the carbon pricing system. The October gathering was "not a typical IMO" meeting, IMO secretary general Arsenio Dominguez said during a side event at the UN Cop 30 climate talks in Belem, Brazil. "We were affected by the global geopolitics that we all face right now. We're not immune to it," he said. Dominguez also sought to assure critics of the vote that the IMO is not backing down from the proposal, citing ongoing work to address some questions that member states raised during last month's meeting. "My message to you is very clear, don't judge IMO for what happened last October. Don't think that IMO stops there because we don't," he said. Dutch climate envoy Jaime de Bourbon Parme struck a similar tone, telling the audience that while the delay may give supporters a "sense of failure" very few countries last month argued the NZF should not be adopted. "I know the Netherlands and many other countries were ready to sign, however, the meeting went a very different direction," he said. While Dominguez and the Dutch prince did not single out any country for causing the delay, many NZF supporters have put the blame on the US. In the days leading up to the vote, the administration of US president Donald Trump threatened to retaliate against countries that back the proposal with measures such as visa restrictions, new port fees or sanctions on officials that sponsor "activist-driven" climate policies. The Trump administration "went outside the rules of engagement," said Andrew Forrest, non-executive chairman of Australian mining company Fortescue, calling US actions before the vote a form of "thuggery." By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Cop: 15 nations join sustainable fuels pledge: Update

07/11/25

Cop: 15 nations join sustainable fuels pledge: Update

Updates with new membership announcement Belem, 7 November (Argus) — A global effort to quadruple the global output and use of sustainable fuels by 2035 will eventually gain significantly greater international backing and provide a boost to energy transition efforts, Engie chairman Jean-Pierre Clamadieu said on Friday. A total of 15 countries joined the "Belem 4x" pledge during a world leaders' summit held on 6-7 November just ahead of the UN Cop 30 climate talks, the Brazilian government said, bringing the total backing to date to 19 nations. The "Belem 4x" pledge, which Brazil proposed in September , launched with support from three other countries — Italy, Japan and India. Clamadieu said he believes total support could grow to around 25-35 countries, if not more. "I think everyone will wait a bit before signing, because people want to study to make sure that all the aspects have been taken into account. But again, I think this pledge will have a big success," Clamadieu told reporters today on the sidelines of the summit. The Brazilian government has said global collaboration is needed to meet the Belem 4x goal and will help lower existing barriers, such as high costs, the lack of clear demand signals and the need for investment in new infrastructure. The pledge's goal is to use sustainable fuels and other technologies to help reduce greenhouse gas (GHG) emissions from electricity generation and from hard-to-abate sectors such as aviation, maritime transport and the cement and steel sectors. "We won't be able to decarbonise if we don't have green molecules that can be used as fuel," Clamadieu. The focus on sustainable fuels is a natural complement to the pledge to triple renewable energy by 2030 that 118 countries signed on to at Cop 28 in Dubai in 2023, according to Clamadieu. "I think it's really it's a bit of a missing piece today, when you look at energy transition," he said. "What was really missing in this Dubai commitment was this issue of green molecules." The countries joining Belem 4x are Armenia, Belarus, Canada, Chile, Guatemala, Guinea, Maldives, Mexico, Mozambique, Myanmar, Netherlands, Panama, South Korea, Sudan, and Zambia. By Michael Ball Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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