Australia's Woodside Energy Group said in its third-quarter results on October 21 that it plans to reduce its investment in its Beaumont New Ammonia 1.1 million metric tons/year plant in Beaumont, Texas.
Woodside said it has completed a strategic review of Beaumont New Ammonia and will initiate a formal process to reduce its investment and achieve value for shareholders. Woodside bought the plant from OCI Global for $2.35 billion in August 2024, and the transaction was completed in March 2026.
Low-carbon ammonia production is scheduled to start at Beaumont in 2027, subject to commissioning of Linde's low-carbon hydrogen facilities and start-up of ExxonMobil's carbon capture and storage infrastructure.
Woodside has previously cited the slower-than-expected rollout of the energy transition, including delays to the International Maritime Organization Net Zero Framework and the cancellation of South Korea's Clean Hydrogen Portfolio Standard.
Beaumont produced 72,400 metric tons of conventional ammonia in Q3 and 351,300 metric tons so far in 2026. Q3 output was constrained at 69% of nameplate capacity due to third-party feedstock availability and a 30-day shutdown. Platts assessed the US Gulf ammonia market at $505/mt FOB on October 20, up $10/mt from October 13.
