Saudi Aramco to obtain 50 percent stake in Blue Hydrogen Industrial Gases Co.


(MENAFN) energy giant Saudi Aramco is preparing to acquire a 50 percent stake in the Jubail-based Blue Hydrogen Industrial Gases Co. This acquisition, which is subject to standard closing conditions, will not only solidify Aramco's position in the hydrogen market but also provide the company with options to purchase hydrogen and nitrogen from BHIG, a subsidiary fully owned by Air Products Qudra. Through this strategic investment, Aramco aims to contribute to the development of a lower-carbon hydrogen network within the Eastern Province of Saudi Arabia, catering to both domestic and regional clients.

This move is part of Aramco's broader initiative to enhance its lower-carbon hydrogen business and expand its portfolio of alternative energy solutions. As Saudi Arabia progresses towards its net-zero goal by 2060, this investment aligns with the country's efforts to innovate and diversify its energy landscape. Once the deal is finalized, both Aramco and Air Products Qudra (APQ)—a joint venture between Air Products and Qudra Energy—will each hold a 50 percent stake in BHIG, signifying a collaborative approach to advancing hydrogen technology.

Ashraf Al-Ghazzawi, Aramco’s executive vice president of Strategy and Corporate Development, emphasized the company’s intention to leverage its growing capabilities in carbon capture and storage, along with its technical expertise in hydrogen production. He expressed a vision of establishing a vibrant marketplace for lower-carbon hydrogen, which is expected to lay the groundwork for a future energy system that prioritizes sustainability and innovation. Through these efforts, Aramco is not only reinforcing its commitment to environmental stewardship but also positioning itself as a leader in the evolving energy sector.

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