ADNOC Acquires Stake in ExxonMobils’s Texas Hydrogen Plant
Abu Dhabi National Oil Company (ADNOC) has agreed to acquire a 35% equity stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas, US.
Once built, the facility is expected to be the world’s largest of its kind, with a planned capacity of up to 1 billion cubic feet (bcf) per day of low-carbon hydrogen and more than 1 million tons of low-carbon ammonia per year. A final investment decision (FID) for the project is expected in 2025 with anticipated startup in 2029.
Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC managing director and group CEO, said: "This strategic investment is a significant step for ADNOC as we grow our portfolio of lower-carbon energy sources and deliver on our international growth strategy.”
The facility will leverage advanced carbon capture and storage technologies to reduce emissions associated with hydrogen production.
Darren Woods, ExxonMobil’s CEO, said: “This is a world-scale project in a new global energy value chain. Bringing on the right partners is key to accelerating market development, and we’re pleased to add ADNOC’s proven experience and global market insights to our Baytown facility.”
