ExxonMobil Corp. and Mitsubishi Corp. have entered into a project framework agreement to further discussions on Mitsubishi's involvement in ExxonMobil's proposed hydrogen and ammonia project in Baytown, Texas. This collaboration is subject to favorable government policies and regulatory approvals. The project, upon completion, is anticipated to be the largest of its kind globally, capable of generating up to 1 billion cubic feet per day of low-carbon hydrogen from domestically sourced natural gas and over 1 million tonnes per year of low-carbon ammonia. The final investment decision is projected to be made in 2025, with operations slated to commence in 2029. Mitsubishi's plans for the project extend to converting a section of its Namikata liquefied petroleum gas (LPG) terminal in Imabari City, Ehime Prefecture, Japan, into an ammonia terminal dedicated to transshipment. The ammonia produced will be supplied to various industrial sectors, including power, automotive, and chemical industries in Japan's Shikoku and Chugoku regions. By 2030, Mitsubishi envisions handling around 1 million tonnes per year of low-carbon ammonia at this facility. In a separate development, ExxonMobil recently divested a 35% stake in the initiative to ADNOC. Mitsubishi's collaboration also extends to partnering with Idemitsu Kosan Co. Ltd. for joint equity participation and the procurement of ammonia from ExxonMobil's Baytown plant. These partnerships reflect global cooperation in the energy and sustainability domain, showcasing a concerted effort towards advancing low-carbon technologies and reducing environmental impact.