🌍 Texas Power Deal: ExxonMobil and Marubeni Launch Major Low-Carbon Hydrogen Partnership

ExxonMobil has signed a landmark long-term offtake agreement with Japan’s Marubeni Corporation to supply 250,000 tonnes of low-carbon ammonia per year from its upcoming hydrogen and ammonia production facility in Baytown, Texas. This high-profile project marks a major step in establishing a global supply chain for clean energy between the United States and Asia. The Baytown facility, expected to be one of the largest of its kind in the world, will produce up to 1 billion cubic feet of hydrogen per day, with approximately 98% of CO₂ emissions captured, as well as more than 1 million tons of low-carbon ammonia annually. A final investment decision is anticipated in 2025, pending regulatory approvals and supportive policy frameworks. As part of the deal, Marubeni will supply the ammonia primarily to Kobe Power Plant, a subsidiary of Kobe Steel, where it will be co-fired with conventional fuel to help reduce emissions. Marubeni has also agreed to take an equity stake in the Baytown facility, further cementing the strategic alliance.