{"id":85443,"date":"2024-07-17T00:00:00","date_gmt":"2024-07-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/07\/17\/aramco-is-acquiring-50-stake-of-air-products-qudras-blue-hydrogen-unit\/"},"modified":"2024-07-17T00:00:00","modified_gmt":"2024-07-17T00:00:00","slug":"aramco-is-acquiring-50-stake-of-air-products-qudras-blue-hydrogen-unit","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/07\/17\/aramco-is-acquiring-50-stake-of-air-products-qudras-blue-hydrogen-unit\/","title":{"rendered":"Aramco is acquiring 50% stake of Air Products Qudra\u2019s blue hydrogen unit"},"content":{"rendered":"

Saudi oil giant Aramco has inked final agreements to <\/strong>acquire a 50% stake in Blue Hydrogen Industrial Gases Company (BHIG)<\/strong>, a Jubail-based unit of Air Products Qudra (APQ), it said in a statement<\/a> yesterday. No financial details on the transaction were provided, but the acquisition will see Aramco get the option to buy hydrogen and nitrogen from BHIG. APQ is a joint venture between US industrial gas supplier Air Products<\/a> and local energy startup Qudra Energy<\/a>.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.) <\/p>\n

The rationale? Develop a lower-carbon hydrogen network locally: <\/strong>Aramco said it expects its investment in BHIG to help create a lower-carbon hydrogen network in the country\u2019s Eastern Region that would serve local and regional customers in the refining, chemical and petrochemical industries.<\/p>\n

What they said: <\/strong>\u201cThis investment highlights Aramco\u2019s ambition to expand its new energies portfolio and grow its lower-carbon hydrogen business\u2026 We intend to leverage our growing capabilities in carbon capture and storage (CCS), as well as our technical expertise in hydrogen, with the ambition to support the establishment of a vibrant marketplace for lower-carbon hydrogen,\u201d Aramco Executive Vice President of Strategy & Corporate Development Ashraf Al Ghazzawi said.<\/p>\n

REMEMBER- Air Products is no stranger to Saudi: <\/strong>Neom Green Hydrogen Company, a joint venture between Neom, Acwa Power, and Air Products, is setting up a USD 8.5 bn utility-scale green hydrogen facility<\/a> with a 1.2 mn ton annual green ammonia production capacity powered by nearly 4 GW of renewable power.<\/p>\n","protected":false},"excerpt":{"rendered":"

Aramco can offtake hydrogen and nitrogen as part of the transaction<\/p>\n","protected":false},"author":1,"featured_media":85444,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[462,461,234,300,460,11,298,79,463],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-air-products","tag-air-products-qudra-apq","tag-aramco","tag-blue-hydrogen","tag-blue-hydrogen-industrial-gases-company-bhig","tag-enterpriseclimate","tag-hydrogen","tag-ma-watch","tag-qudra-energy","wpautop","entry"],"acf":{"mongo_id":"aeeb2f7b-6057-46ea-91da-b809eee479d9","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1319.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco is acquiring 50% stake of Air Products Qudra\u2019s blue hydrogen unit","related_issue":[85436],"teaser":"Aramco can offtake hydrogen and nitrogen as part of the transaction","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.f5d46f9d-fc01-4264-b958-fb766ebb3000.mp3"},"yoast_head":"\nAramco is acquiring 50% stake of Air Products Qudra\u2019s blue hydrogen unit - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/07\/17\/aramco-is-acquiring-50-stake-of-air-products-qudras-blue-hydrogen-unit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco is acquiring 50% stake of Air Products Qudra\u2019s blue hydrogen unit\" \/>\n<meta property=\"og:description\" content=\"Aramco can offtake hydrogen and nitrogen 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