ADNOC Partners with Exxon Mobil for World's Biggest Hydrogen Project in Texas
Key Ideas
- ADNOC to take 35% stake in Exxon Mobil's hydrogen project in Baytown, Texas, set to be the world's largest upon completion.
- The strategic partnership aims to support UAE's energy security efforts and strengthen its position as a global low-carbon hydrogen producer.
- The project, anticipated to start in 2029, will focus on reducing greenhouse gas emissions and producing low-carbon ammonia using advanced technologies.
- ADNOC plans to support community initiatives in Baytown post-FID, aligning with its commitment to sustainability and economic development.
Abu Dhabi National Oil Co (ADNOC) has announced a partnership with Exxon Mobil to take a 35% stake in the world's largest hydrogen project in Baytown, Texas. The agreement, witnessed by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, aims to strengthen the UAE's global energy position and support the transition to low-carbon fuels. The project, expected to start in 2029, will focus on reducing emissions and producing low-carbon ammonia with advanced carbon capture technologies. The partnership reflects ADNOC's international growth strategy and commitment to sustainability. Despite uncertainties due to US government tax incentives, ADNOC remains confident in the project's success. Following the final investment decision, ADNOC plans to engage in community initiatives in Baytown, showcasing its dedication to environmental and social advancements.