Ammonia bunker demand to reach 2.3 million mt/year by 2030 – DNV
The maritime sector’s appetite for ammonia is expected to grow substantially to 62 million mt/year by 2040, classification society DNV reported.
PHOTO: Concept of Mitsui OSK Lines' ammonia-fuelled ocean-going vessel. Mitsui OSK Lines
It will grow even further to a whopping 245 million mt/year by 2050, DNV predicted in its latest report.
Bunker fuel demand is forecast to be comprised of blue and green ammonia after 2030. Blue ammonia consumption will make up 76% of this total demand projection, equivalent to around 186 million mt/year, while green ammonia consumption is estimated at 59 million mt/year by 2050, according to DNV.
Blue ammonia is typically blue hydrogen combined with nitrogen captured from the air and put through the so-called Haber-Bosch process. The hydrogen is actually fossil as it is produced from steam methane reforming of natural gas. But the carbon dioxide (CO2) emitted during this production process is captured, which can render it low- or zero-carbon.
Green ammonia is produced by combining green hydrogen with nitrogen obtained from the air through the Haber-Bosch process. Both hydrogen generation and Haber-Bosch process are theoretically powered by renewable energy in this production method.
“The robust growth is for ammonia as a maritime fuel from zero today to surpass its use for feedstock by 2046 and then reach 245 MTPA in 2050,” DNV said.
By Konica Bhatt
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