US energy major Exxon Mobil has stated that it still views the potential of hydrogen as a viable energy source for the future with optimism.
The confidence arrives despite a recent pause in the company’s plans to develop a blue hydrogen plant in Baytown, Texas.
The project dates to 2022 when Exxon revealed plans for a ground-breaking production facility. The goal of the initiative was to produce one billion cubic feet a day of blue hydrogen. This hydrogen type has specific environmental advantages as it produces water when it is burned.
The project in Baytown was part of a wider strategy that Exxon anticipated would play a significant role in decreasing carbon emissions through the capture and storage of carbon dioxide generated in hydrogen production.
A multinational gas and oil corporation headquartered in Texas, Exxon is one of the largest industry operators in the world. It also operates the Mobil lubricant brand that develops and delivers solutions like hydraulic oil, grease, gear oil, heat transfer fluids (HTFs) and metalworking fluids.
Exxon’s Chief Executive Officer Darren Woods commented on the temporary halt, saying that the company believed that the demand for hydrogen as an energy source would materialise eventually, enabling the corporation to restart the blue hydrogen plant project. He emphasised that the facility based in Baytown would be an advantaged initiative as soon as market conditions improved. This thinking underlines Exxon Mobil’s long-term commitment to incorporating hydrogen into its current energy portfolio.
