Woodside Energy Group Ltd., Australia’s largest energy producer, will buy a clean ammonia project in Texas for $2.35 billion.
Woodside will buy OCI Clean Ammonia Holding BV from Dutch chemicals company OCI NV in an all-cash transaction, it said in a statement on Monday. The plant is under construction and expects to start producing from 2025, with lower-carbon ammonia output to follow a year later.
OCI shares jumped as much as 11% at the open in Amsterdam.
The purchase is Woodside’s second major acquisition in the US in less than two weeks, after it