This news is classified in: Traditional Energy
Aug 3, 2022
McDermott International and KBR (NYSE: KBR) have entered into a global licensing agreement to provide integrated solutions for KBR's proprietary ammonia technologies. Ammonia produced from renewable or low-carbon sources, commonly referred to as green and blue ammonia, supports global decarbonization because it can be used to provide carbon-free fertilizers, as an energy carrier or as a fuel.
The agreement represents a compelling solution to meet the growing ammonia market which combines KBR's leading technology with McDermott's global execution capabilities and fabrication and modularization expertise.
"This agreement enables us to offer customers an integrated approach for low-carbon ammonia projects by combining KBR's best-in-class ammonia technology with our global project delivery know-how, low-carbon execution approach and leadership in ammonia storage solutions," said Tareq Kawash, Senior Vice President, Onshore, McDermott. "This technology partnership is an important addition to our growing energy transition portfolio and strengthens our concept-to-completion capabilities."
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"We are pleased to enter into an alliance agreement with McDermott to deliver world-class energy transition projects based on KBR's leading ammonia technology," said Aman Ahmad, KBR Senior Vice President, Global Sales. "This agreement will enable KBR and McDermott to leverage each other's strengths to deliver exceptional value to our clients as they scale and accelerate their energy transition initiatives."
As part of the agreement, McDermott and KBR will jointly evaluate opportunities to provide modularized execution concepts to drive additional efficiencies tailored to the needs of green and blue ammonia projects.