Exxon Mobil has decided to suspend the construction of one of the largest hydrogen production facilities in the world, located in Baytown, Texas, due to insufficient demand from customers.

CEO Darren Woods stated that potential clients are hesitant to sign firm contracts due to the high costs associated with hydrogen, especially in the context of economic uncertainties in Europe. The project, announced in 2022, aimed for a production capacity of 1 billion cubic feet per day of blue hydrogen, a low-emission fuel. Exxon and its partners have already invested approximately 500 million dollars in this project, estimated to be worth several billion. Woods mentioned that the project could be resumed in the future when demand increases, but currently, there is no clear outlook for its restart.