According to Amac News: ADNOC's announcement states that the company increased its stake in the company to 86.2% and 13.8% remains in the Abu Dhabi Stock Exchange (ADX).
According to the announcement, Fertiglobe is the world's largest marine exporter of urea and ammonia, exporting to 53 countries and having a collective market share of around 10% of the global trade of these products.
To provide added value and orderly growth for Fertiglobe, ADNOC will transfer its stake in existing and future low-carbon ammonia projects to Fertiglobe at cost and when ready to launch, creating a world-class growth platform for low-carbon ammonia as It creates a key energy.
Fertiglobe follows its success in the recent H2Global bid in which it secured €397 million of renewable ammonia to Europe at a delivery price of €1,000 per ton until 2033.
Market tailwinds from increasing low-carbon ammonia applications are expected to drive demand growth by more than 11 million tons by 2032.
ADNOC aims to capture 5% of the global low-carbon hydrogen market by 2030 by supporting the UAE National Hydrogen Strategy.