Abu Dhabi National Oil Co. (Adnoc) has made a significant move in the global low-carbon hydrogen sector by securing a 35% stake in Exxon Mobil's multibillion-dollar project in Baytown, Texas. The project, slated to produce blue hydrogen and ammonia through the utilization of natural gas and carbon capture and storage (CCS), is strategically positioned in an area with ample gas resources and easy access to key export markets in Europe and Asia. Adnoc's interest in the project stems from its partnership with Exxon, a renowned operator in the industry, and the project's alignment with Adnoc's vision for a low-carbon future. By investing in the Baytown project, Adnoc aims to bolster its presence in the global ammonia market and support its energy transition objectives by reducing emissions from its operations and those of its customers. This venture marks Adnoc's initial foray into international low-carbon ammonia production, marking a pivotal step towards establishing itself as a diversified energy player with a strong focus on hydrogen, LNG, renewables, and trading. The acquisition underscores Adnoc's strategic approach to expanding its portfolio and solidifying its position as a key player in the evolving landscape of low-carbon technologies and sustainable energy solutions.