Lotte Chemical, RWE, Mitsubishi form alliance for clean ammonia

South Korea's Lotte Chemical Corp. has joined forces with German energy company RWE and Japan's Mitsubishi Corporation to create a global consortium for the development of clean ammonia production and supply.

The three companies signed on Tuesday a joint study agreement at Lotte World Tower in Seoul, committing to jointly study a project to produce and export clean ammonia (blue and green ammonia) at Corpus Christi Port in Texas, the largest energy export terminal in the US.

With the goal of producing up to 10 million tons of clean ammonia starting in 2030, the project aims to export clean ammonia to Asia and Europe through joint shipping facilities.

Corpus Christi is an ideal location for the production of clean ammonia, thanks to its abundant natural gas reserves and ease of access to renewable energy, as well as its export infrastructure.

"This joint research is poised to revitalize the global hydrogen ammonia economy and drive carbon neutrality," said Hwang Jin-koo, head of Lotte Chemical's hydrogen energy business.

"We will leverage our expertise in production, distribution, utilization, and technology development to succeed in this project," he added.

Write to Ik-Whan Kim at lovepen@hankyung.com