Abu Dhabi National Oil Company (ADNOC) has signed a contract to acquire a 35% stake in ExxonMobil's proposed blue hydrogen and ammonia mega project in Baytown, Texas. The project aims to be the largest of its kind, with the capacity to produce one billion cubic feet of low carbon hydrogen daily and more than one million tonnes of low-carbon ammonia per year while capturing and storing seven million tonnes of CO2 annually. ADNOC hopes to finalize the investment decision by 2025, leading to project start-up in 2029. The partnership between ADNOC and ExxonMobil is seen as strategic to meet the increasing demand for lower-carbon fuels and contribute to decarbonizing hard-to-abate sectors. Both companies emphasize the importance of sustainability and market development in the energy industry. Other significant announcements have been made to support the Baytown project, including Air Liquide's $850 million investment to double oxygen production capacity and JERA's interest in buying a stake in the project along with securing low-carbon ammonia for end-user markets in Japan. The project is expected to play a crucial role in reducing greenhouse gas emissions and supporting sustainable initiatives in the community. Overall, the sentiment towards the hydrogen and ammonia project in Texas is positive, with a focus on environmental responsibility and technological advancements to drive the energy transition.