Latest news with #hydrogenproject
Bloomberg
22-05-2025
- Business
- Bloomberg
Saudi Arabia's Mega Neom Hydrogen Plant Struggles to Find Buyers
The world's largest green hydrogen project being built in Saudi Arabia's Neom is facing an uncertain future as it struggles to find international buyers for the fuel. All of the hydrogen from the project was originally intended for export as green ammonia, but with only one committed buyer lined up, it is shifting focus to local consumers to fill the gap, according to people with knowledge of the matter. But demand is still uncertain within the kingdom, and plans are under consideration to slow the full development of the facility, they said.
Bloomberg
07-05-2025
- Business
- Bloomberg
Exxon Signs Low-Carbon Ammonia Sales Deal With Japan's Marubeni
Exxon Mobil Corp. signed a long-term agreement to sell low-carbon ammonia to Marubeni Corp., a crucial step in getting its hydrogen project in Baytown, Texas, off the ground. Exxon will provide the Japanese company with 250,000 tonnes of the fuel a year from Baytown once it's up and running, the Spring, Texas-based company said in a statement. Marubeni, which will use the ammonia to fuel a power plant owned by Kobe Steel Ltd., will also acquire an equity stake in the project.
