Aker Horizons ASA, announced that it has signed a letter of intent (LOI) with the German gas group VNG to supply green ammonia from Narvik, Northern Norway.
In particular, the agreement was signed in Berlin during a visit by Norway’s Minister of Trade, Industry and Fisheries Jan Christian Vestre to German Vice-Chancellor Robert Habeck. The partnership between Aker Horizons and VNG supports Norway’s commitment to become a key supplier of clean hydrogen to Germany and the European Union (EU), helping foster new green industrial development and strengthening European energy security.
The Narvik project is an important milestone in the development of industrial-scale production of green hydrogen and green ammonia in Europe, and we are pleased to be joined on this journey by an established industry player such as VNG.
..said Kristian Røkke, CEO of Aker Horizons.
Norway has been a stable and trustworthy energy supplier for VNG for many years and will remain so in the future. We are pleased that the Letter of intent signed today will be the foundation for future cooperation with Aker Horizons and at the same time strengthen the energy relationship with Norway. VNG and Aker Horizons have complementary skills, strengths and know-how, providing a solid foundation to develop green business models.
…Ulf Heitmüller, CEO of VNG, explained.
Our goal is to drive decarbonization in eastern Germany, especially in industry. The purchase of green ammonia from the Narvik project might be an important step along the way.
..Heitmüller added.
As explained, Norway aims to actively contribute to the development of the hydrogen market in Germany and the EU. In January 2023, Norway and Germany reaffirmed their joint intention to ensure large-scale supply of hydrogen by 2030 and to establish the necessary infrastructure from Norway to Germany.
“Aker Horizons is actively engaging with hydrogen offtakers in continental Europe and is experiencing strong interest from German industry. The LOI with VNG, a significant player in the German market, is one of several recently signed with German companies. These agreements reflect Germany’s commitment to realize its hydrogen ambitions, providing significant opportunities for Norwegian producers,” said Knut Nyborg, Managing Director of Aker Horizons Asset Development.
