In September 2022, Amogy opened its inaugural overseas office in Stavanger, Norway. As of today, we have eight team members in both Stavanger and Stord, and we are embedded within the vibrant Norwegian maritime and energy communities. This year, Norway, a trailblazer on the global journey to net zero emissions, experienced pivotal milestones in the realization of its ambitious energy initiatives. This blog takes a closer look at the strides made in 2023, providing insight into the Green Shipping Challenge, Norway’s Green Shipping Program, and the role of Enova in guiding the nation towards a more sustainable future.
Green Shipping Challenge
For the world’s shipping industry to reach zero emissions, it’s crucial that the leading maritime nations work together. Organized at COP27, the Green Shipping Challenge initiative is an important step in fostering this collaboration.
Led by Norwegian Prime Minister Jonas Gahr Støre and Special Presidential Envoy for Climate John Kerry, the initiative has introduced 61 measures aimed at curtailing shipping emissions. With ambitious targets, Norway strives to reduce greenhouse gas emissions (GHG) in domestic shipping and fishing by 50% by 2030. This necessitates the deployment of approximately 700 low-emission and 400 zero-emission ships across various vessel types. The International Maritime Organization (IMO) has similarly set the target of reaching net zero GHG emissions by 2050, which will create a global market for green technologies.
The Green Shipping Challenge shows that the shipping industry and many countries are serious about cutting greenhouse gas emissions. This demonstrates the importance of collaboration between authorities and the private business community to restructure shipping to decarbonize faster.
Norway’s Green Shipping Programme
The Green Shipping Programme (GSP), is a public-private partnership that aims to advance the Norwegian government’s maritime strategies and plans. The program’s vision is to develop and strengthen Norway’s goal to establish the world’s most efficient and environmentally-friendly shipping practices.
Comprising over 94 private companies and organizations and 12 public observers, the program is financed partly by public allocations from the State budget of Norway and partly by the members. Close collaboration between the stakeholders and value chain is of major importance to reach the goal of zero-emissions shipping.
The program is also aligned with national and international climate goals, striving for tangible outcomes, including cost-effective emissions reduction, economic growth, sustainable logistics solutions, heightened competitiveness, and the creation of new job opportunities.
Enova is a Norwegian government agency that focuses on facilitating the transition to a low-emission society by supporting projects in energy and climate technology development, innovation, and sustainability. The agency’s goal is to cut greenhouse gas emissions, promote technological advancements, and create new economic values in the process. Enova works to ensure that emerging energy and climate technologies are developed and effectively integrated into the market, further establishing Norway’s position at the forefront of the green transition.
Launching in early 2024, Enova’s new program focuses on hydrogen and ammonia vessels. Applicants will compete for investment support of up to 80% of the extra costs associated with hydrogen and ammonia. By intensifying efforts to stimulate demand, Enova addresses the challenge of reducing barriers in hydrogen and ammonia markets, encouraging more players to join the transition. The program also contributes significantly to technology development, which reduces additional costs for investment and operation of hydrogen and ammonia vessels and ultimately facilitates the effective development of value chains.
Over the past year, the strides made in three key initiatives—the Green Shipping Challenge, the Green Shipping Programme, and Enova—have allowed Norway to develop a clear path to net zero emissions for the shipping industry.
In Norway, Amogy has actively engaged with diverse stakeholders to take advantage of these programs and to help ensure their success. We’ll continue to work strategically with the Norwegian government and maritime market to develop the ammonia value chain and help Norway achieve its ambitious climate goals. Looking forward to more progress in 2024!
For further reading, check out our recent blog post, “An Exploration of 2023 U.S. Energy Policy” and download our white paper, “Ammonia as a Clean Energy Solution for Maritime Use.”