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LOTTE Chemical and CF Industries signed MOU for production of clean ammonia in Louisiana
2023.04.26
LOTTE Chemical and CF Industries signed MOU for
production of clean ammonia in Louisiana
※ Photo of event: LOTTE Chemical signed a detailed MOU for the production cooperation of clean ammonia in Louisiana, USA with the world’s largest ammonia producer, CF Industries for the early activation of the hydrogen economy in Korea and to achieve the group’s net-zero goals. (From right to left) LOTTE Chemical President & Hydrogen Business Group CEO Hwang Jin Koo, Minister of Trade, Industry and Energy Lee Chang Yang, CF Industries CFO Chris Bohn
■ Since signing an MOU for investments in the production of clean ammonia in the US and cooperation to implement in Korea with the Us-
based CF Industries that is the world’s largest ammonia producer in February, signed a detailed MOU on the 25th (US local time) that
concretized cooperation plans for the construction and operation of new blue ammonia facilities in Louisiana
■ LOTTE Chemical's Hydrogen Business Group CEO Hwang Jin Koo attended the ‘Korea-US Advanced Industry and Clean Energy Partnership’
signing ceremony as part of the <2023 US Economic Delegation>
■ LOTTE Chemical to contribute promoting the domestic hydrogen economy by securing a clean hydrogen/ammonia production base in the
US and securing stable supply
■ Hydrogen Business Group CEO Hwang Jin Koo, “We will further concretize our strategic cooperation with CF Industries, the top
ammonia company of the US for the supply of competitive clean hydrogen and ammonia in the domestic market. We will strive to
develop into a leading company of the global clean hydrogen market and also for the early settlement of the domestic hydrogen
industry.”
LOTTE Chemical announced that it signed a detailed MOU for the production cooperation of clean ammonia in Louisiana, USA with the world’s largest ammonia producer, CF Industries Holdings Inc. for the early activation of the hydrogen economy in Korea and to achieve the group’s net-zero goals.
At the held on the 25th in the US, LOTTE Chemical's Hydrogen Business Group CEO Hwang Jin Koo and CF Industries Chief Financial Officer (CFO) Chris Bohn agreed on concretizing mutual cooperation plans such as investments and operations of new blue ammonia facilities in Louisiana.
This MOU detailed the region and scope of work for the that was entered in February. The mutual cooperation was announced at an event hosted by the Ministry of Trade, Industry and Energy, which built a relationship of close mutual cooperation.
The two companies will produce clean ammonia by applying carbon capture and storage (CCS) technologies and supply it to Korea for use in power generation and bunkering supplied to ships that use ammonia, and it will mobilize the global infrastructure of LOTTE Chemical and the ammonia plant operation and distribution network of CF Industries.
Hydrogen Business Group CEO Hwang Jin Koo said, “It has become possible for us to further concretize our strategic cooperation with CF Industries, the top ammonia company of the US for the supply of competitive clean hydrogen and ammonia in the domestic market,” and added, “We will strive to develop into a leading company of the global clean hydrogen market and also for the early settlement of the domestic hydrogen industry” as he commented about this signing ceremony.
Meanwhile, LOTTE Group is participating in pan-national and global efforts to achieve carbon neutrality. LOTTE Chemical, a key petrochemical subsidiary of the group, is pursuing the hydrogen energy business for the global supply of clean energy and for carbon-reduced growth, and plans to invest a total of 6 trillion KRW to produce and sell 1.2 million tons of clean ammonia.
At the
This MOU detailed the region and scope of work for the
The two companies will produce clean ammonia by applying carbon capture and storage (CCS) technologies and supply it to Korea for use in power generation and bunkering supplied to ships that use ammonia, and it will mobilize the global infrastructure of LOTTE Chemical and the ammonia plant operation and distribution network of CF Industries.
Hydrogen Business Group CEO Hwang Jin Koo said, “It has become possible for us to further concretize our strategic cooperation with CF Industries, the top ammonia company of the US for the supply of competitive clean hydrogen and ammonia in the domestic market,” and added, “We will strive to develop into a leading company of the global clean hydrogen market and also for the early settlement of the domestic hydrogen industry” as he commented about this signing ceremony.
Meanwhile, LOTTE Group is participating in pan-national and global efforts to achieve carbon neutrality. LOTTE Chemical, a key petrochemical subsidiary of the group, is pursuing the hydrogen energy business for the global supply of clean energy and for carbon-reduced growth, and plans to invest a total of 6 trillion KRW to produce and sell 1.2 million tons of clean ammonia.
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