ADNOC expands stake in Fertiglobe to boost low-carbon ammonia development

Image: ADNOC

ADNOC has completed the acquisition of a majority stake in Fertiglobe, raising its shareholding to 86.2 per cent.

The move strengthens ADNOC’s chemicals growth strategy and positions Fertiglobe as its platform for global low-carbon ammonia development.

Fertiglobe, the world’s largest seaborne nitrogen exporter, is now poised to become a leader in the low-carbon ammonia market as part of ADNOC’s integrated portfolio.

With the company exporting to 53 countries and holding a 10 per cent share of the global ammonia and urea trade, this acquisition is a key milestone in ADNOC’s plans to become a ‘top five’ global chemicals player.

The energy giant intends to transfer its stakes in existing and future low-carbon ammonia projects to Fertiglobe, doubling the company’s ammonia project capacity.

Fertiglobe’s capacity will increase from 1.6 million tons per annum (mtpa) to 8.6 mtpa of ammonia and urea, driven by projects in Abu Dhabi and beyond.

Fertiglobe to advance low carbon ammonia development

Dr Sultan Ahmed Al Jaber, ADNOC MD and group CEO, emphasised the importance of this acquisition: “Fertiglobe will advance ADNOC’s low-carbon ammonia business, supporting a just and equitable global energy transition.”

Fertiglobe’s CEO, Ahmed El-Hoshy, said, “This transaction reinforces our long-term outlook and ambition to meet global demand for low-carbon solutions. As part of ADNOC’s ecosystem, we are excited to unlock the full potential of our portfolio.”

The company will continue to drive its low-carbon fuels business, recently securing a EUR397m renewable ammonia offtake contract to Europe through the H2Global initiative, further highlighting its leadership in sustainable energy solutions