Woodside, a company making strides in the energy transition, has finalized an agreement to acquire OCI Clean Ammonia Project in Beaumont, Texas for approximately US$2350 million. The project, set to commence ammonia production in 2025 and lower carbon ammonia in 2026, aligns with Woodside's strategy to thrive in the evolving energy landscape. The acquisition is seen as a key step towards Woodside's Scope 3 investment and abatement targets, with the project capable of abating a significant amount of CO2 emissions. Leveraging feedstock agreements with Linde and CCS services from ExxonMobil, the project is well-positioned to tap into the growing lower carbon ammonia market both domestically and internationally. With forecasted growth in lower carbon ammonia demand, especially in Europe and Asia, driven by supportive policies like the EU CBAM, Woodside's investment is strategically timed. The project's scalability, competitive advantages, and expected returns from Phase 1 and Phase 2 underscore the potential success of this venture in reducing emissions, meeting market demand, and capitalizing on the energy transition.