ADNOC to acquire a 35% equity stake in Exxon Mobil’s hydrogen production facility in Texas 

In the United Arab Emirates, Exxon Mobil said that Abu Dhabi National Oil Company (ADNOC) will acquire a 35% equity stake in Exxon Mobil Corporation’s proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas.

Contingent on supportive government policy and necessary regulatory permits, the facility is expected to be the world’s largest of its kind upon startup, capable of producing up to 1 billion cubic feet (bcf) daily of low-carbon hydrogen, which is virtually carbon-free with approximately 98% of carbon dioxide removed and more than 1 million tons of low-carbon ammonia per year, Exxon Mobile said. A final investment decision (FID) is expected in 2025 with anticipated startup in 2029, it added.

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. We look forward to partnering with ExxonMobil on this low carbon-intensity and technologically advanced project to meet rising demand and help decarbonize heavy-emitting sectors.”

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