Woodside Energy Group Ltd (ASX:WDS, LSE:WDS, OTC:WOPEF) announced it had acquired a clean ammonia project on the US Gulf Coast, in Texas.
It is notably the world's first ammonia plant that uses auto thermal reforming with 95%+ CO2 capture technology, Woodside
The project is currently under construction, and is expected to produce its first ammonia by 2025, with lower carbon ammonia production starting in 2026.
The acquisition, which includes capital expenditure for the first phase, is valued at approximately $1.75 billion.
"This transaction positions Woodside in the growing lower carbon ammonia market,” chief executive Meg O’Neill said in a statement.
“The potential applications for lower carbon ammonia are in power generation, marine fuels and as an industrial feedstock, as it displaces higher-emitting fuels.
"Global ammonia demand is forecast to double by 2050, with lower carbon ammonia making up nearly two-thirds of total demand.”