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Eco-friendly green energy company, LU, announced on the 25th (local time) that it has signed a long-term supply contract with Thai energy company "Ma corporation Oil Co., Ltd." to sell 200,000 tons of green ammonia annually for 15 years at the Centara Grand at Central World Hotel in Bangkok, Thailand.
Green ammonia is priced at $750 per ton. Supplying 200,000 tons annually amounts to $150 million per year. Over 15 years, this totals 3 million tons, with a long-term contract value reaching $2.25 billion (approximately 3.1 trillion KRW).
Thai Macorporation Oil specializes in energy trading, importing oil and natural gas from Russia and Europe and supplying it to Thailand and Southeast Asia.
Kim Se-ho, Chairman of LU, stated, "Following the UAE and India, we are now advancing our green ammonia business in Thailand, expanding our role on the international stage. We will continue to actively cooperate to help develop the green energy market in Thailand."