Woodside Energy Group Limited (NYSE:WDS) disclosed a deal to acquire 100% of OCI Global’s equity interests in the Clean Ammonia project under construction in Beaumont, Texas, for $2.35 billion on a cash-free and debt-free basis. The purchase price will be split, with 80% paid at closing and the remaining 20% settled upon project completion, defined as when the plant meets the agreed-upon terms and conditions. Situated in Beaumont, Texas on the U.S. Gulf Coast, the project will cater to both domestic and international markets. Phase 1, under construction, has a design capacity of 1.1 Mtpa, with initial ammonia production from natural gas expected in 2025. Lower-carbon ammonia, produced using natural gas and carbon sequestration, is planned for 2026 after CCS operations begin. The facility is designed to support a ...