Abu Dhabi National Oil Company (ADNOC) has acquired a 35% stake in a planned large-scale hydrogen plant in Texas developed by Exxon Mobil Corporation. 

The facility aims to produce up to 1 billion cubic feet per day of low-carbon hydrogen, with a carbon capture rate of approximately 98%. The project is part of Exxon Mobil's strategy to capitalize on the growing demand for decarbonization solutions. 

The hydrogen produced will be used to supply either the company's refining system or third-party buyers connected to the Gulf Coast pipeline network. Additionally, the facility could produce blue ammonia for export to Northeast Asia or Europe.

ADNOC Executive Vice President Michele Fiorentino stated that a final investment decision is expected around mid-2025 or in the second half of next year. First production is anticipated in 2029, with full capacity expected within 12 months, subject to demand. 

ADNOC expressed confidence in the market demand for the project's hydrogen, citing the scale of the facility as a key factor in achieving cost competitiveness.

While the exact cost of the project was not disclosed, it is expected to be in the billions of dollars. The possibility of expanding the facility with a second production train was also mentioned, depending on future market conditions.