Navigator Gas said this week that it had received board approval to make a development capital investment into a clean ammonia export project in the U.S. Gulf Coast.
In its 1Q24 earnings release, the company stated the following:
On May 14, 2024, the Company’s Board of Directors approved a $2.5 million investment in an early-stage clean ammonia export project in the U.S. Gulf coast area. The Company expects to make its first monetary contribution to the project in the second or third quarter of 2024, and we will provide more details as the project develops. This initial investment is development capital, and subject to board approval, we also expect to make larger investments at FID and during the construction phase of the project towards a terminal and ship-shore logistics.
