Digital Products
Saudi Aramco, has signed final agreements to acquire ownership stakes in Blue Hydrogen Industrial Gases Company, a wholly owned subsidiary of Air Products Qudra, based in Jubail.
The deal, which is subject to final closing conditions, also includes an option for Saudi Aramco to purchase hydrogen and nitrogen.
Saudi Aramco aims to develop low-carbon hydrogen projects and expand its alternative energy portfolio. Moreover, investing in a blue hydrogen company for industrial gases is expected to help establish a low-carbon hydrogen network in Saudi Arabia’s Eastern Province, benefiting local and regional customers.
Air Products Qudra
It is expected that: Saudi Aramco and Air Products Qudra, which is a joint venture between Air Products and Qudra Energy; A 50% stake in Blue Hydrogen Industrial Gases Company.
Ashraf Al-Ghazawi, Executive Vice President for Strategy and Corporate Development at Saudi Aramco, clarified that this investment highlights Saudi Aramco’s ambition to expand its portfolio of new energies and develop its business in the low-carbon hydrogen sector. He also expressed his pleasure in moving forward with Air Products on this path.
He pointed out that there are promising business opportunities for low-emission hydrogen. The company aims to capitalize on its growing capabilities in carbon capture, as well as its technical expertise in hydrogen, in efforts to support the establishment of a thriving market for low-carbon hydrogen. This could help lay the foundation for the future energy system.
On his part, Dr. Samir Serhan, Chairman of Air Products, affirmed the company’s commitment to expanding its established partnership with Saudi Aramco. Additionally, he encouraged joint efforts to establish the largest hydrogen network in the Middle East, expected to serve the refining, chemical, and petrochemical industries. He also looks forward to leveraging the company’s expertise in hydrogen businesses. This will support Saudi Aramco’s efforts to secure reliable supplies of low-carbon hydrogen.
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