Horisont Eyes Blue Ammonia in Norway

Source: www.gulfoilandgas.com 9/30/2021, Location: Europe

Horisont Energi is in discussions with a number of infrastructure investors regarding project financing of the company’s share of the Barents Blue ammonia plant in Hammerfest, Norway.

The process with the infrastructure investors started in the summer of 2020. After signing confidentiality agreements with Horisont Energi, the invited investors were presented to the project and invited into a due diligence process. Relevant project information has been shared in a dedicated data room in the first half of 2021.

“As communicated when we listed Horisont Energi, we value infrastructure funds as a likely source of funding for the onshore ammonia facility. The previously announced cooperation agreement with Equinor and Vår Energi forms a basis for advancing the discussions with major international infrastructure investors. Horisont Energi plans on signing a letter of intent with one or more of the selected investors before the project’s concept selection, scheduled in 2022.” Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

The Barents Blue ammonia plant will be Europe’s first large-scale production facility for blue ammonia. CO2 captured during the production process will be captured and permanently stored below the seabed offshore Finnmark in Northern Norway. On September 9, 2021, Horisont Energi announced the signing of a cooperation agreement with Equinor and Vår Energi, the two largest offshore oil and gas producers in the Barents Sea region, for the development of Barents Blue.


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