Norwegian shipping firm Hoegh Evi is on the brink of finalizing a significant investment decision this year on a groundbreaking ammonia-derived hydrogen project destined for dedicated German grids. The company, known for operating floating storage and regasification units (FSRU) for liquefied natural gas, is diversifying supply origins along the German coast amid the ongoing energy crisis. In alignment with Germany's decarbonisation ambitions, Hoegh, alongside private firm Deutsche ReGas, is spearheading the development of a floating hydrogen import terminal in Lubmin on the Baltic Sea. This innovative project includes an ammonia cracker designed to produce hydrogen for further distribution inland. By capitalizing on ammonia's established transport infrastructure, Hoegh aims to offer an economical import alternative by sourcing ammonia globally and converting it to hydrogen. This strategic move not only ensures the company's foothold in the LNG market but also aligns with Germany's hydrogen grid plans supported by a substantial 24 billion euro loan. In a bid to provide cost-effective green hydrogen, Hoegh envisions offering hydrogen at a competitive $3-$3.5/kg by 2027, a significant drop from the current European prices of $8-10/kg. By enhancing the visibility and efficiency of the green hydrogen value chain, Hoegh's venture signifies a pivotal step towards sustainable energy solutions and emission reductions in the region.