ADNOC acquires 35% stake in ExxonMobil’s US hydrogen production plant

The Abu Dhabi National Oil Company (ADNOC) has agreed to acquire a 35% stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas, USA.

The facility will use advanced carbon capture and storage technology to reduce emissions associated with hydrogen production. Once completed, the plant is expected to be the largest of its kind in the world, with a planned production capacity of up to 1 billion cubic feet (bcf) per day of low-carbon hydrogen and more than 1 million tons per year of low-carbon ammonia. The final investment decision (FID) for the project is expected to be made in 2025, with start-up expected in 2029.

Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, said: "This strategic investment is an important step for ADNOC as we expand our low-carbon energy portfolio and deliver on our international growth strategy."

ExxonMobil CEO Darren Woods said: "This is a world-class project in a new global energy value chain. Bringing in the right partners is key to accelerating market development, and we are pleased to bring ADNOC's proven experience and global market insights to our Baytown facility."