Yara is a partner in several joint ventures around the world. The joint ventures provide a significant contribution to Yara’s positive financial results. We have a low risk appetite for entering into joint ventures without having a controlling stake and adequate control of key risk.
Yara's joint venture investments in ammonia and urea manufacturing are based on the availability of low-cost natural gas in areas such as the Middle East (Qatar), the Caribbean (Trinidad and Tobago), North Africa (Libya) and Australia (Burrup Peninsula). In addition to this, Yara has established joint ventures to support its growth in trading, sourcing and distribution, and industrial joint ventures involving the gas and environmental protection markets.
These joint ventures and others allow Yara to share benefits and reduce risks of doing business in dissimilar markets. Yara’s partners gain access to a large and global network, and benefit from Yara’s technological and project management expertise. The ventures also result in reduced costs, increased output volumes and improved profits for both parties.
Our policies, procedures and international accords are monitored, communicated, followed and integrated into the way we do business. We strive continuously to improve our internal business systems by formalizing and documenting our policies, procedures and steering systems. Extensive training throughout the organization has been given, to ensure we develop and ensure compliance with all applicable laws and regulations.