OCI Global turns to A&O Shearman for USD2.35 billion sale of its Clean Ammonia project in Texas to Woodside Energy

OCI Clean Ammonia is the world’s first large-scale, low-carbon intensity hydrogen-based greenfield ammonia facility, which is expected to produce first ammonia in 2025. OCI Clean Ammonia is anticipated to meet blue ammonia specifications by any standard announced to date and is the only blue ammonia facility under construction globally, capable of producing 1.1 million metric tons per year of blue ammonia in its first phase, with the necessary infrastructure and utilities in place to double that capacity in its existing plot plan.

Under the terms of the agreement, OCI will continue to manage the construction, commissioning and startup of the facility and will continue to direct the contractors until the project is fully staffed and operational, at which point it will handover to Woodside. The transaction is subject to customary closing conditions and receipt of OCI shareholder approval and is expected to close later this year. 

The A&O Shearman team was led by Corporate partner Romain Dambre, with support from associates Aaron Swartzman and James Heaney.

The AOS team also included:

• Energy, Natural Resources and Infrastructure partner Kent Rowey and associates Nathanael Kraintz, Elizabeth Coscia and Zeina Traboulsi 
• Compensation, Employment and Governance partner Brian Jebb and associates Hayde Faria and Jacquelyn Watson
• Environment and Regulatory partner Ken Rivlin and associates Nick Ognibene and Jake Ely
• Tax partner Dave Lewis and counsel John Hibbard 
• IP/IT partner Adam Chernichaw and associates Hannah Coleman and Will Jackson
• Data Privacy partner Helen Christakos and associate Sonya Aggarwal
• Real Estate partner Adam Sofen
• London Corporate and OCI relationship partner Andrew Schoorlemmer, partner Oliver Bacon, senior associate Tom Betts and associate Andrew Boyce
• Amsterdam Corporate partner Tim Stevens and senior associates David Jacobs and Anthonie Nederlof 

OCI Global is a global leader in nitrogen, methanol, and hydrogen, driving forward the decarbonization of the energy-intensive industries that shape, feed and fuel the world. OCI has more than 4,000 employees, is headquartered in the Netherlands and listed on Euronext in Amsterdam.