Our Strategic Approach
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Fertiglobe was formed through a strategic partnership between OCI and ADNOC in 2019, combining four strategically located production facilities across the MENA region, into a single platform, providing us with significant competitive strengths which we believe position us strongly for future growth.
We are currently the largest seaborne exporter of urea and ammonia combined globally and the largest nitrogen fertilizer producer in MENA by production capacity. Our sellable ammonia and urea capacity represents approximately 10% of combined ammonia and urea global seaborne exports.
Our production footprint in natural gas-rich geographies, underpinned by secure long-term competitive supply contracts, place us in the first quartile cost curve on the global cost curves in both ammonia and urea.
We have a state-of-the-art and young asset base. Our facilities use the best available global technology with approximately 50% of our combined urea and ammonia production capacity under 10 years old.
Our strategically located production facilities benefit from direct access to six key ports and distribution hubs, and our commercial activities are supported by robust inland storage and distribution infrastructure, favourably positioning on the global cost curve for fertilizers.
We have an attractive financial profile with low maintenance capex requirements and strong cash generation abilities across pricing cycles.
We benefit from strong shareholder support - OCI and ADNOC – enhancing our ability to continue to grow, including in the low-carbon ammonia value chain.
Our Strategic Approach
We are a critical enabler of global food security and are well positioned to leverage emerging opportunities in the low-carbon ammonia value chain.
Our strategy, which centers on operational excellence, leverages Fertiglobe’s unique strengths, including location, scale and asset quality, to create long-term value for our shareholders.
It is enabled through five key areas:
We intend to leverage our established ammonia platform to capitalize on the potential global shift to blue and green ammonia. Management believes that the Group is well positioned to capitalize on the global transition to a hydrogen economy because ammonia has emerged as one of the most promising products to drive the hydrogen economy and enable the energy transition.
We believe that declining arable land, combined with a growing global population and more sophisticated global dietary requirements will result in sustained nitrogen-based fertilizer demand for the foreseeable future. We also believe that there is potential for additional growth in fertilizer demand as farmers in agricultural markets, and in particular developing markets such as sub-Saharan Africa, begin to increase their fertilizer usage to maximize crop yields.
We have launched an Operational Excellence program focused on maximizing asset reliability and energy efficiency, optimizing capital expenditure, and strictly reviewing controllable costs. The program was launched at the end of 2020 and aims to achieve consistently higher utilization rates, reduce energy consumption, and in turn reduce GHG emissions over the medium term. It will also seek to optimize outside resourcing and maintenance costs by interchanging resources and expertise between our assets and challenging capital expenditure plans.
We are committed to providing a safe and healthy workplace by implementing the highest international safety standards to avoid any potential risks to people, communities, assets or the environment. We aim to maintain a strong HSE record and strive towards achieving no recordable injuries across our plants.