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Aramco to acquire 50% stake in Air Products Qudra subsidiary

22 July 2024

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Saudi Aramco has signed agreements to acquire a 50% equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company (BHIG), a wholly-owned subsidiary of Air Products Qudra (APQ).

The transaction, which is subject to standard closing conditions, also includes options for Aramco to offtake hydrogen and nitrogen, Aramco said in a statement.

Upon completion of the transaction, Aramco and APQ – a joint venture of Air Products and Qudra Energy – are expected to each own a 50% stake in BHIG.

“Building on its efforts to develop a lower-carbon hydrogen business and expand its portfolio of alternative energy solutions, Aramco expects its investment in BHIG will contribute to the development of a lower-carbon hydrogen network in [the kingdom’s] Eastern Province, serving both domestic and regional customers,” Aramco said.

BHIG, which is designed to produce lower-carbon hydrogen while capturing and storing carbon dioxide, is expected to start commercial operations in coordination with Aramco’s carbon capture and storage activities.

ALSO READ: Wood completes feed for Aramco carbon capture scheme

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Indrajit Sen

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