Aramco is set to acquire 50 percent stake in Jubail-based Blue Hydrogen Industrial Gases (BHIG), a subsidiary of Air Products Qudra (APQ).
The transaction will also include options for Aramco to offtake hydrogen and nitrogen. Aramco did not reveal financial details.
Aramco expects its investment in BHIG will contribute to the development of a lower-carbon hydrogen network in the Kingdom of Saudi Arabia’s Eastern Province, serving both domestic and regional customers.
Aramco and APQ, a joint venture between Air Products and Qudra Energy, are expected to each own a 50 percent stake in BHIG.
At the signing ceremony are APQ CEO Ebubekir Koyuncu, sitting left, and Aramco Acting Senior Vice President of New Business Development Mohanad M. Alamdar, sitting right. Standing, from left, are Aramco Executive Vice President of Strategy & Corporate Development Ashraf Al Ghazzawi, APQ Chairman Dr. Samir Serhan, Air Products Chairman, President & CEO Seifi Ghasemi, Aramco President & CEO Amin H. Nasser, APQ Vice Chairman Mohammed Abunayyan, and Aramco Downstream President Mohammed Y. Al Qahtani