Facility expects to convert US-produced natural gas into virtually carbon-free hydrogen
ADNOC will acquire a 35% equity stake in the Baytown, Texas, project that will produce virtually carbon-free hydrogen.
The strategic investment will support both companies’ net zero ambitions, accelerate decarbonization of hard-to-abate sectors, and meet rising demand for low-carbon hydrogen and ammonia.
Facility expects to convert US-produced natural gas into virtually carbon-free hydrogen, with approximately 98% of CO2 removed, advancing US competitiveness and supporting US jobs
HH Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, witnessed the signing of an agreement between HE Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, and Darren Woods, Chairman and CEO, ExxonMobil.
Significant investment
The agreement represents a significant investment in the United States’ energy production and the global energy transition. It will help reduce greenhouse gas emissions across hard-to-decarbonize sectors, including industry, energy and transportation, meet rising demand for lower-carbon fuels, and accelerate a net-zero future.
“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,” commented HE Dr. Sultan Al Jaber.
“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,” noted Woods.
