ADNOC and ExxonMobil sign agreement to build the world's largest low-carbon hydrogen plant
Companies
Sep 11, 2024
82
Recently, two oil giants, Abu Dhabi National Oil Company (ADNOC) and ExxonMobil, signed an agreement. According to the agreement, ADNOC will acquire a 35% stake in ExxonMobil's proposed low-carbon hydrogen and ammonia production project in Baytown, Texas, USA.
It is reported that the project is expected to become the world's largest low-carbon hydrogen plant, capable of producing up to 1 billion cubic feet (bcf) of low-carbon hydrogen per day, with about 98% of carbon dioxide removed. At the same time, more than 1 million tons of low-carbon ammonia will be produced annually.
Adnoc revealed in a statement that the final investment decision is expected to be made in 2025 and the project is expected to start in 2029.
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