The Abu Dhabi National Oil Company (ADNOC) has expanded its presence in the United States by acquiring a 35% stake in a major hydrogen project located in Baytown, Texas. This strategic investment was witnessed by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and aims to produce 1 billion cubic feet of low-carbon hydrogen daily, with an impressive 98% of CO2 emissions captured during the process [0fcd26f3]. The project is also expected to generate over 1 million tons of low-carbon ammonia annually, contributing significantly to the energy transition [0fcd26f3].
The final investment decision for the project is anticipated in 2025, with startup operations planned for 2029. Sultan Ahmed Al Jaber, ADNOC's CEO, emphasized the strategic importance of this investment in supporting the global shift towards cleaner energy sources [0fcd26f3]. The partnership with ExxonMobil, highlighted by CEO Darren Woods, underscores the collaborative efforts in advancing low-carbon technologies and creating job opportunities while supporting community development [0fcd26f3].
This investment aligns with South Korea's ongoing initiatives in renewable energy and hydrogen production, as the country seeks to cooperate with the United States and Japan in combating climate change [9f033efb]. The trilateral cooperation aims to restrict fossil fuel use and reduce carbon emissions, with plans to discuss further partnerships in Seoul in 2024 [9f033efb].
In a related development, Hanyang Corporation and Air Products and Chemicals are collaborating on a green ammonia and hydrogen infrastructure project in Yeosu, South Korea, which aims to supply over 1 million tons of ammonia annually [76505376]. This project, along with ADNOC's investment, reflects a growing global emphasis on green ammonia as a key player in the clean energy transition [76505376].
Korea's Carbon-Free (CF) Alliance is also promoting initiatives to make energy sectors carbon-free, with a focus on clean hydrogen and ammonia production [9f033efb]. Additionally, JERA Co., Inc. is exploring a low-carbon hydrogen and ammonia project in the U.S. in partnership with ExxonMobil, further highlighting the international collaboration in this sector [1a7d6efe].
As the world moves towards sustainable energy solutions, these projects signify a robust commitment to reducing carbon footprints and enhancing energy security through innovative technologies and partnerships across nations [0fcd26f3][76505376][1a7d6efe].