Mitsui : Construction begins on clean ammonia production facility in UAE, project loan agreement signed

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori), alongside TA'ZIZ (owned by Abu Dhabi National Oil Company ("ADNOC")), Fertiglobe, and South Korea's GS Energy Corporation, has agreed to commence construction of an ammonia production facility in the United Arab Emirates ("UAE"). In addition, Mitsui has signed a loan agreement with Japan Bank for International Cooperation ("JBIC", Governor: Nobumitsu Hayashi) to finance the development of the project.

The project involves the construction of an ammonia production facility in Al Ruwais, UAE. Starting from 2027, the plant is expected to produce 1 million tons per year of ammonia with lower CO2 emissions compared to conventional ammonia. To achieve CO2 emission reductions, additional facilities will be installed in the plant to capture and store CO2 emitted in the manufacturing process, with plans to begin production of clean ammonia by 2030. In addition to its participation in the project, Mitsui will offtake a certain volume of the clean ammonia produced at the plant for supplying Japan and other Asian markets, thereby contributing to the decarbonization of society as a whole, through its use in fuel applications, chemical and fertilizer feedstock applications, and other industries.

Mitsui has been handling ammonia for about 50 years, and continues to be the largest importer to Japan for many years. Mitsui and ADNOC have been jointly developing and managing liquefied natural gas (LNG) plant in the UAE since the 1970s. By combining cross-industry expertise and partnerships cultivated through our existing businesses, we will promote the establishment of a clean ammonia supply chain, and respond to the decarbonization needs of each country and region.

In its Medium-term Management Plan 2026, Mitsui has designated Global Energy Transition as one of its Key Strategic Initiatives, and positioned clean ammonia, which does not emit CO2 during combustion, as one of the promising options for next-generation fuels, and will strive to contribute to the realization of a decarbonized society through this business initiative.

About ADNOC

ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC's objective is to maximize the value of the Emirate's vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates' economic growth and diversification.

About TA'ZIZ

TA'ZIZ is a critical enabler of the UAE's industrial development and economic diversification ambitions. Founded in 2020 as a joint venture between the Abu Dhabi National Oil Company and ADQ, TA'ZIZ is a manufacturing, industrial services, and logistics ecosystem that drives, supports, and enables the production of chemicals value chains and transition fuels.

About Fertiglobe

Fertiglobe is the world's largest seaborne exporter of urea and ammonia combined, and an early mover in sustainable ammonia. Fertiglobe's production capacity comprises of 6.6 million tons of urea and merchant ammonia, produced at four subsidiaries in the UAE, Egypt and Algeria, making it the largest producer of nitrogen fertilizers in the Middle East and North Africa (MENA), and benefits from direct access to six key ports and distribution hubs on the Mediterranean Sea, Red Sea, and the Arab Gulf. Headquartered in Abu Dhabi and incorporated in Abu Dhabi Global Market (ADGM), Fertiglobe employs more than 2,700 employees and was formed as a strategic partnership between OCI Global ("OCI") and ADNOC. Fertiglobe is listed on the Abu Dhabi Securities Exchange ("ADX") under the symbol "FERTIGLB" and ISIN "AEF000901015".

About GS Energy Corporation

GS Energy Corporation is the influential energy provider in Korea, who operates a variety of energy related businesses including upstream, electrical power, LNG, crude refining and many types of renewable energy and hydrogen businesses, through its subsidiary companies.

A rendering of the ammonia production facility