Thyssenkrupp and the energy and petrochemicals group ADNOC from Abu Dhabi want to jointly explore opportunities in the hydrogen business.

The plant engineering subsidiary Thyssenkrupp Uhde and Abu Dhabi National Oil Co (ADNOC) have signed an agreement in principle to this end, the Ruhr Group announced on Tuesday. The agreement provides for the joint project development of a large-scale ammonia cracking plant. This could split the hydrogen from the ammonia again after transportation. It initially remained unclear when an investment decision could be expected.

Hydrogen plays a key role in the energy transition and is therefore in high demand. It can be bound in ammonia for easier transportation. When ammonia is shipped, it can be split into hydrogen and nitrogen at its destination using a cracker. Together with ADNOC, thyssenkrupp is taking an important step towards ammonia cracking on a large scale, said Group CEO Martina Merz. "Clean ammonia is the best way to transport hydrogen by ship, and together with Adnoc we will deliver the final piece of the puzzle for global green hydrogen trading on a large scale," added Uhde CEO Cord Landsmann. He had explained in a Reuters interview that his company wants to drive its growth with green products such as ammonia plants in particular.

(Report by Tom Käckenhoff. Edited by Olaf Brenner. If you have any queries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)