Fertiglobe has secured a €397m ($432m) contract to supply its Egyptian-produced green hydrogen-based ammonia to Germany under the first H2Global auction.
The OCI and Abu Dhabi state-owned ADNOC joint venture has committed to supplying renewable ammonia from 2027 at a delivered contract price of €1,000 ($1,087) per tonne until 2033.
Originally announced with a €900m ($979m) budget, the H2Global initiative, set up by Germany’s Ministry of Economic and Climate Affairs (BMWK), aims to support hydrogen projects by purchasing green hydrogen with long-term contracts before reselling it via annual auctions.
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