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1 minute read
Woodside, a global energy company, has announced that it has entered into a binding agreement to acquire 100% of OCI Clean Ammonia Holding B.V., and its lower carbon ammonia project in Beaumont, Texas (Project), for an all-cash consideration of approximately US$2.35 billion.
The Project is the world’s first large-scale, low-carbon intensity hydrogen-based greenfield ammonia facility. Construction of the Project began in December 2022 and first ammonia production, derived from natural gas, is targeted for 2025. Lower carbon ammonia production, derived from natural gas paired with carbon sequestration, is targeted for 2026.
Our multidisciplinary team of lawyers, tax advisers and notaries has advised Woodside on this transaction.
