UAE ADNOC and ExxonMobil Corporation have signed a strategic partnership in which ADNOC will acquire a 35% equity stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas, US.
Adnoc is the third major industrial partner to join Exxon’s project, which would produce 1 billion cubic feet of hydrogen per day and 1 million tons of ammonia a year. JERA Co., Japan’s biggest power provider signed a non-binding agreement in March to buy half of the ammonia and in June Air Liquide SA said it could use its pipelines.
The project will provide hydrogen for the refinery and local users and ammonia for export.
Adnoc and Exxon didn’t disclose the value of the proposed transaction.