Australian company Woodside Energy has made a significant move in the green energy sector by entering into a $2.35 billion agreement to acquire OCI Global's clean ammonia project in Beaumont, Texas. This acquisition aims to bolster Woodside's transition to sustainable energy sources. The project, currently under construction, is expected to start ammonia production in 2025, with a shift towards lower carbon ammonia production by 2026. Woodside anticipates significant growth in the lower carbon ammonia market and sees this project as a strategic investment to capitalize on this trend. The project is designed to cater to a variety of sectors including power generation, marine fuels, and industrial applications, all while reducing emissions. Woodside's CEO, Meg O'Neill, expressed confidence in the project's financial viability, expecting returns above 10 percent and a payback period of less than 10 years. With agreements already in place for feedstock and carbon capture services, Woodside is well-positioned to serve customers globally with both conventional and lower carbon ammonia. The project also includes plans for a potential second production train, contingent on final investment decisions in 2026. While Woodside will oversee the transaction's completion in 2024, OCI Global will continue to manage the project until it is fully operational. This acquisition reflects a positive step towards sustainable energy practices and aligns with the global push for cleaner fuel alternatives.