Brooge Energy Ltd (Brooge Energy), a Cayman Islands-based energy infrastructure service provider, which is currently engaged in clean petroleum products, biofuels, crude oil storage, and related services, has announced that it has engaged Ernst & Young (EY), one of the largest professional services providers in the world, to provide consulting services with respect to its planned green hydrogen and green ammonia plant in the United Arab Emirates (UAE).
Brooge Energy is now intending to focus on renewable energy infrastructures and biofuels, next to clean petroleum products, crude oil storage, and related services.
Brooge Petroleum and Gas Investment Company Phase 3 FZE (BPGIC), is the primary operating subsidiary that focuses on midstream oil storage and other services and is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE.
Develop green hydrogen and ammonia
On June 28, 2022, Brooge Renewable Energy Ltd (BRE), a wholly owned subsidiary of Brooge Energy, was established to focus on green energy-related infrastructure activities.
As a first step, BRE has planned to develop green hydrogen- and green ammonia production in Abu Dhabi that is targeted to produce up to 300 000 tonnes per annum of ammonia.
BRE has signed a preliminary land lease agreement for a 15-hectare (ha) site that will accommodate the project.
Market assessment study
The E&Y commissioned study aims to provide a market assessment of the green hydrogen and green ammonia business, which will include a market outlook with expected future prices and an overview of the competitive landscape expected.
Engaging EY is another important step in our clean energy transition. Global demand for clean energy sources has been strong and is expected to accelerate in the coming years, said Nicolaas Paardenkooper, CEO of Brooge Energy.
The study scope covers the green hydrogen and green ammonia projects’ technical and cost assessment in addition to a financial and feasibility report. It will facilitate Brooge Energy’s transition journey by providing the outlook for market demand and economic profitability.
The study is expected to start in August 2022 with the final report expected to be delivered during the fourth quarter of 2022.
We are excited to begin the process of bringing this highly anticipated project to reality by engaging with the appropriate partners to see the project to completion. We strive to be at the forefront of the clean energy movement and our goal is to be one of the first private sector companies to successfully implement a green hydrogen/ ammonia project in UAE and demonstrate its economic and environmental benefits on a local and global scale, ended Nicolaas Paardenkooper.
