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| Woodside acquires OCI blue ammonia project |
| Recently, Woodside Energy announced that it has reached an agreement with OCI of the Netherlands to acquire OCI’s 1.1 million tons/year blue ammonia project currently under construction in Beaumont, Texas for $2.35 billion. The all cash transaction is expected to be completed later this year, subject to customary closing conditions and approval from OCI shareholders. Woodside will pay 80% of the transaction price to OCI at the end of the transaction, and the remaining amount will be paid upon completion of the project. The under construction blue ammonia plant is scheduled to be completed in the first half of 2025, and the permit for the second production line is currently underway. OCI stated that the permit materials for the second production line have been submitted and are expected to be approved by the end of 2024. OCI will continue to manage the construction, commissioning, and commissioning of the facility, and will continue to guide contractors until the project personnel are fully equipped and put into operation, at which point it will be handed over to Woodside. According to OCI, this project is the world’s first large-scale, low- carbon intensity green ammonia project. The construction work began in December 2022 as a collaborative project between OCI and Linde, which combines Linde’s low-carbon intensity hydrogen production and carbon capture technology with OCI’s ammonia production, storage, and transportation infrastructure. Linde had previously signed a contract with ExxonMobil for the carbon dioxide transportation and storage infrastructure of the project. The project is expected to capture and store 1.7 million tons/year of carbon dioxide during the initial operational phase. Woodside stated that the goal of the project is to achieve the first production of traditional ammonia using natural gas as raw material next year, and plans to produce low-carbon ammonia for the first time in mid-2026. The project is currently 70% completed, with an expected internal rate of return of over 10%, and the investment will be recouped within 10 years. Woodside stated that Lind’s raw material facilities will provide low-carbon hydrogen and nitrogen, with the goal of completion by early 2026. Prior to completion, early raw material supply will come from multiple manufacturers along the Gulf Coast of the United States. The goal is to prepare for the final investment decision for the second phase of the project by 2026, with an expected total capital expenditure of between 1.2 billion and 1.4 billion US dollars. Woodside stated that global ammonia demand is expected to double by 2050, with low-carbon ammonia expected to account for nearly two-thirds of total demand. At present, the demand for ammonia in the market is close to 200 million tons per year, of which about 80% is used for fertilizer applications and the rest for various industrial applications. In May of this year, OCI announced that it had already invested $561 million in the Beaumont low-carbon ammonia project, which is still expected to be put into operation in the first half of 2025. |
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| Release time: 2024-08-15 Click: 85 |
Company Name: Tianjin Shengfan Technology Corporation
Mobile Phone: 86-16600237486
Email: chris@dyessf.com
Website: www.dyessf.com
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