Linde Signs Agreement with ExxonMobil for Carbon Dioxide Off-take
Linde (NYSE: LIN) announced today that it has signed a long-term agreement with ExxonMobil (NYSE: XOM) for the off-take of carbon dioxide associated with Linde?s new clean hydrogen production in Beaumont, Texas.
Linde previously announced that it will build, own and operate an on-site complex to supply clean hydrogen and nitrogen to OCI Global?s (Euronext: OCI) new world-scale blue ammonia plant. Linde?s new facility is expected to start up in 2025 and will be integrated into Linde?s extensive U.S. Gulf Coast industrial gas infrastructure. It will also supply clean hydrogen to other new and existing off-takers across the network.
Under the terms of the agreement, ExxonMobil will transport and permanently store up to 2.2 million metric tons of carbon dioxide each year from Linde?s hydrogen production facility, equivalent to the emissions from nearly half a million cars per year.
?Clean hydrogen is a key enabler of industry?s transition to a low-carbon economy,? said Dan Yankowski, Senior Vice President Americas, Linde. ?Working with ExxonMobil as the carbon dioxide off-taker at our Beaumont project supports Linde?s strategy to decarbonize customer processes while safely and reliably supplying low-carbon hydrogen at scale.?
?ExxonMobil?s agreement with Linde underscores our growing momentum in providing industrial customers with large-scale solutions to sequester carbon dioxide emissions,? said Dan Ammann, President of ExxonMobil Low Carbon Solutions. ?Linde?s Beaumont clean hydrogen project is another significant step towards achieving heavy industry?s decarbonization and net zero goals.?
As one of the world?s leading industrial gases and engineering companies, Linde is playing a key role in the clean energy transition. The company is actively supporting its customers to decarbonize their operations with the latest technologies for clean hydrogen and carbon capture, and by leveraging its world-class engineering organization, its existing hydrogen infrastructure and operational expertise. Linde offers solutions across the entire clean hydrogen value chain and is implementing projects across a range of applications and industries, with more in the pipeline.
