Riyadh - Sharikat Mubasher: The Saudi energy giant Aramco signed definitive agreements to acquire a 50% stake in Blue Hydrogen Industrial Gases Company (BHIG), wholly owned by Air Products Qudra (APQ), the company announced in a press release.
The transaction is subject to standard closing conditions and will include options for Aramco to offtake hydrogen and nitrogen.
This investment will contribute to the development of a lower-carbon hydrogen network in the Eastern Province, serving both domestic and regional customers.
Ashraf Al Ghazzawi, Executive Vice President of Strategy and Corporate Development at Aramco, stated that the investment underscores Aramco’s efforts to expand its new energy portfolio and grow its lower-carbon hydrogen business.
“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,” Al Ghazzawi added.
For his part, Samir Serhan, Chairman of Air Products Qudra, commented: “We look forward to providing our expertise in hydrogen and pipeline operations and supporting Aramco’s need for a reliable supply of lower-carbon hydrogen for domestic and regional requirements.”
Moreover, BHIG plans to start commercial operations in coordination with Aramco’s carbon capture and storage (CCS) activities.
