ExxonMobil’s CEO has warned that the shortened timeline under the 45V hydrogen tax credit could jeopardise the development of its flagship blue hydrogen project in Texas.

Darren Woods told the oil and gas major’s latest earnings call that the new start-of-construction deadline – moved up from 2033 to the start of 2028 – may not provide enough time to secure sufficient offtakers for its Baytown project.

“If we can’t see an eventual path to a market-driven business, we won’t move forward with the project,” he said.

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