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.

Exxon wants to produce 1 billion cubic feet per day of hydrogen made from natural gas ...