The companies are also looking to cooperate to build a global supply chain of bunkering for ammonia-powered vessels in Ulsan, Korea, which are expected to be commercialised from 2025 onwards.
Under the MoU, OCI is expected to supply Lotte Fine Chemical from OCI’s existing low-carbon ammonia production capacity in Texas starting this year, and Lotte Fine Chemical is supposed to introduce OCI’s ISCC Plus bio-ammonia, derived from bio-methane, for the supply to its domestic customers.
