ExxonMobil Awards FEED for World’s Largest Low-Carbon Hydrogen Facility

ExxonMobil announced the next step in the development of the world’s largest low-carbon hydrogen production facility with a contract award for front-end engineering and design (FEED). A final investment decision for the project is expected by 2024, subject to stakeholder support, regulatory permitting, and market conditions.

ExxonMobil’s Baytown low-carbon hydrogen, ammonia and carbon capture facility is expected to produce one billion cubic feet of low-carbon hydrogen per day, making it the largest low-carbon hydrogen project in the world at planned startup in 2027-2028.

More than 98% of the associated CO₂ produced by the facility, or around 7 million metric tons per year, is expected to be captured and permanently stored. The carbon capture and storage network being developed for the project will be made available for use by third-party CO₂ emitters in the area in support of their decarbonization efforts.

“This project allows us to offer significant volumes of low-carbon hydrogen and ammonia to third party customers in support of their decarbonization efforts,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “In addition, the project is expected to enable up to a 30% reduction in Scope 1 and 2 emissions from our Baytown integrated complex, by switching from natural gas as a fuel source to low-carbon hydrogen.”

ExxonMobil will pair the world’s largest low-carbon hydrogen facility with the largest olefins plant in the United States to deliver more sustainable, lower-emissions products for customers and society.

ExxonMobil has awarded the contract to Technip Energies who will be responsible for the next stage of front-end engineering and design of the low-carbon hydrogen project.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.

The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world.

In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity.

With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050. To learn more, visit exxonmobil.com, the Energy Factor, and ExxonMobil’s Advancing Climate Solutions.

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Cautionary Statement

Statements of future events, investments, or partnerships in this release are forward-looking statements. Actual future results, including project plans, partner participation, timing, capacities, and costs could differ materially depending on a number of factors including the ability to execute operational objectives on a timely and successful basis; implementation of government frameworks and permitting for carbon capture and storage, hydrogen, ammonia and other lower-emission technologies; timely completion of construction projects; commercial and consumer interest in lower-emissions opportunities; changes in plans or objectives prior to final funding decisions or project startups; unforeseen technical or operational difficulties; and other factors discussed under the heading Factors Affecting Future Results in the Investors section of our website at www.exxonmobil.com. Any forward-looking statement speaks only as of the date of this press release and the companies named herein disclaim any obligation to update any forward-looking statement.

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