- Yara Clean Ammonia, a Yara International ASA (OTC:YARIY) company, and Enbridge Inc. (NYSE:ENB) have signed a letter of intent to collaborate on the development and construction of a world-scale low-carbon blue ammonia production facility as equal partners.
- Total project investment is expected to be $2.6 billion–$2.9 billion, with production start-up in 2027/2028.
- The proposed facility will be located at the Enbridge Ingleside Energy Center (EIEC) near Corpus Christi, Texas, and will be capable of supplying low-carbon ammonia to meet growing global demand, with an expected capacity of 1.2–1.4 million tons per annum.
- Additionally, Yara is expected to contract full offtake from the facility, which further enhances the strategic value and commercial viability of the project.
- Also Read: Enbridge Is Well Positioned With Somewhat Dichotomous Business, Credit Suisse Says
- Enbridge’s Texas Eastern Transmission Pipeline is expected to provide the transportation service for feed gas that will be used for the production process.
- Price Action: ENB shares closed higher by 0.67% at $38.09 on Thursday.
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