| dc.description.abstract | This thesis investigates the profitability of North Ammonia’s production of green ammonia for shipping, focusing on key factors influencing its success. Green ammonia, recognised as a promising candidate for decarbonising the shipping industry, is produced with zero emissions using renewable energy sources. However, uncertainties surrounding future availability and demand hinder its widespread adoption.
Using a conceptual framework and a case study research design, the thesis addresses the problem statement by dividing it into three research questions, each covering a specific dimension. Firstly, the macro environment is examined to determine the potential profitability of green ammonia production in Norway. Political and technological factors are identified as crucial in establishing the market and influencing profitability. While the potential market size indicates profitability, several undetermined factors require clarification for a conclusive assessment. Factors such as access to renewable energy, location, knowledge, and technology are found to be influential. Furthermore, the study identifies access to renewable energy and location as potential competitive advantages for North Ammonia if effectively leveraged. AWE is determined to be the most economically viable electrolysis technology for their project, with the choice between AWE and PEM having minimal impact on profitability. Energy prices are identified as the most significant factor affecting production costs and, consequently, North Ammonia’s project profitability.
This research contributes to the ongoing investigation of green ammonia as a shipping fuel, focusing on the profitability of Norwegian production. The identified macro environmental factors and North Ammonia’s resources provide valuable insights for a new and emerging market. Further analysis of technology choices and production costs will enhance the understanding of green ammonia production. However, it is important to note that the conclusions drawn in this thesis are limited to the available data and require further research for a comprehensive assessment. | |