Woodside Energy Group Ltd, the Australian petroleum exploration and production company, has announced the acquisition of a clean ammonia project in Texas for $2.35 billion USD in cash as it seeks to grow its lower-carbon offering and cut emissions from its products.
According to reports, this deal will give Woodside the ‘early-mover’ advantage in the lower carbon ammonia market, as demand is expected to grow, with firms globally shifting towards cleaner forms of energy due to climate change.
The report further mentions that the project is still under construction and targets the production of first ammonia from 2025 and lower carbon ammonia from 2026.
Last month, Incognito Blog reported Woodside’s $1.2 billion USD acquisition of LNG developer Tellurian.
