Aramco to Acquire 50% Stake in Air Products' Blue Hydrogen Industrial Gases
By Sabela Ojea
Aramco has signed definitive agreements to acquire a 50% stake in Blue Hydrogen Industrial Gases, a subsidiary of Air Products' development and investment company in the Middle East, Air Products Qudra.
Aramco, formally known as Saudi Arabian Oil, on Tuesday said the transaction, subject to standard closing conditions, will include options to offtake hydrogen and nitrogen.
The investment would grow Aramco's lower-carbon hydrogen business, contributing to the development of a lower-carbon hydrogen network in Saudi Arabia's Eastern Province, serving both domestic and regional consumers, the company said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
July 16, 2024 13:12 ET (17:12 GMT)
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