Aramco acquires 60% of blue hydrogen player

JUBAIL, July 17, 2024 – Aramco will acquire a 50% equity interest in Blue Hydrogen Industrial Gases Company (BHIG), a Jubail-based subsidiary of Air Products Qudra, the Saudi NOC said on Tuesday.

BHIG plans to supply hydrogen through a pipeline network in Saudi Arabia’s Eastern Province designed to serve both domestic and regional customers.

The agreement is in line with Aramco’s plans to expand its New Energies portfolio, and includes options for Aramco to offtake hydrogen and nitrogen.

“We are delighted to partner with APQ on this journey and believe there are promising commercial opportunities for hydrogen with lower emissions,” said Ashraf Al Ghazzawi, Aramco’s executive vice-president of strategy and corporate development.

“We intend to leverage our growing capabilities in carbon capture and storage, as well as our technical expertise in hydrogen, with the ambition to support the establishment of a vibrant marketplace for lower-carbon hydrogen — helping lay the foundations of a future energy system.”

Air Products Qudra is Air Products’ development and investment company in the Middle East, with Vision Invest industrial arm Qudra Energy serving as joint venture partner. The company focuses on industrial gases, hydrogen and CCUS.

Read our latest insights on: