Woodside Energy Acquires OCI Global's Clean Ammonia Project in Texas
Key Ideas
- Woodside Energy purchases OCI Global's Texas ammonia project for $2.35 billion, contributing to their $5 billion clean energy investment goal by 2030.
- OCI's ammonia plant in Beaumont, Texas, with a capacity of 1.1 million metric tons, is set to be completed by 2025 at a cost of $1 billion.
- Linde will supply hydrogen to the plant, sourced from natural gas, and ExxonMobil will handle the transportation and storage of carbon dioxide emissions.
- OCI is selling off assets, including its Fertiglobe stake and a fertilizer plant, to focus on the clean ammonia project while partnering with industry leaders.
Woodside Energy, an Australian firm, has agreed to buy OCI Global's low-carbon ammonia project in Beaumont, Texas, for $2.35 billion. The project, initiated in 2022, aims to complete by 2025 with a 1.1 million metric ton capacity ammonia plant costing $1 billion. Linde will provide hydrogen sourced from natural gas to the facility, while ExxonMobil will manage the carbon dioxide emissions. OCI is selling assets like its Fertiglobe stake to Abu Dhabi National Oil Co. and a fertilizer plant in Iowa to Koch Industries. This move aligns with Woodside's target of investing $5 billion in clean energy projects by 2030, making significant progress towards their goal. The article highlights the strategic partnerships and acquisitions in the energy sector to advance towards cleaner and sustainable solutions.
Topics
Production
Clean Energy
Investment
Low-carbon
Partnerships
Acquisition
Energy Firm
Ammonia Project
Asset Liquidation
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