Linde Signs Agreement with ExxonMobil for Carbon Dioxide Off-Take

Rhea-AI Summary

Linde (NYSE: LIN) has entered a long-term agreement with ExxonMobil (NYSE: XOM) to transport and permanently store up to 2.2 million metric tons of carbon dioxide annually from its new clean hydrogen production facility in Beaumont, Texas. This facility will supply hydrogen to OCI Global's new ammonia plant and other partners, focusing on supporting decarbonization efforts in various industries. Set to commence operations in 2025, Linde's project aims to enhance the transition to a low-carbon economy, with implications for both companies' sustainability goals.

Positive

• Long-term agreement with ExxonMobil to enhance carbon capture and storage efforts.
• Projected supply of 2.2 million metric tons of CO2 storage per year, improving sustainability.
• Facility supports decarbonization strategies for a diverse range of industries.

Negative

• None.

WOKING, UK / ACCESSWIRE / April 4, 2023 / 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 dioxideemissions," 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.

About Linde

Linde is a leading global industrial gases and engineering company with 2022 sales of $33 billion (€30 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.

The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

For more information about the company and its products and services, please visit www.linde.com

Contacts:
Investor Relations Juan Pelaez Phone: +1 203 837 2213 Email: juan.pelaez@linde.com	Media Relations Anna Davies Phone: +44 1483 244705 Email: anna.davies@linde.com

SOURCE: Linde plc

View source version on accesswire.com:
https://www.accesswire.com/747525/Linde-Signs-Agreement-with-ExxonMobil-for-Carbon-Dioxide-Off-Take

FAQ

What is Linde's recent agreement with ExxonMobil about?

Linde signed a long-term agreement with ExxonMobil for the off-take of carbon dioxide from its new clean hydrogen production facility.

When is Linde's hydrogen production facility expected to start operations?

Linde's hydrogen production facility is expected to start operations in 2025.

How much carbon dioxide will ExxonMobil store for Linde?

ExxonMobil will transport and permanently store up to 2.2 million metric tons of carbon dioxide each year from Linde's facility.

What industries will benefit from Linde's clean hydrogen project?

Linde's clean hydrogen project supports various industries, including chemicals, energy, and manufacturing, to help decarbonize their operations.