Aramco Completes Acquisition of 50% Stake in Blue Hydrogen Industrial Gases Company

Partnership aims to accelerate industrial carbon reduction and encourage growth of the hydrogen economy

Aramco, one of the world’s leading integrated energy and chemicals companies, and Air Products Qudra (APQ) today announced that Aramco has completed the acquisition of a 50% equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company (BHIG). The agreement brings together experts in their respective fields with the aim of providing the Jubail Industrial City area with hydrogen, including lower-carbon hydrogen, at scale.

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BHIG targets the production of hydrogen, including lower-carbon hydrogen from natural gas, also referred to as “blue hydrogen”, through the capture and storage of carbon dioxide. BHIG is expected to commence commercial operations to produce blue hydrogen in coordination with Aramco’s carbon capture and storage (CCS) activities in Jubail.

Ashraf Al Ghazzawi, Aramco Executive Vice President of Strategy & Corporate Development, said: “Aramco’s investment in BHIG is expected to contribute to the development of a hydrogen network in the Kingdom of Saudi Arabia’s Eastern Province. This network, along with our CCS hub in Jubail, can help us capitalize on emerging opportunities both domestically and globally to reduce carbon emissions, support growth, and diversify our energy portfolio.”

Ahmed Hababou, Air Products Qudra Chairman, said: “This joint venture is another example of the steps Aramco and Air Products Qudra are taking to contribute to the development of a robust hydrogen network in the Kingdom’s Eastern Province, serving the refining, chemical, and petrochemical industries.”

Mohammad Abunayyan, Air Products Qudra Vice-Chairman, said: “We are proud of this partnership with Aramco and pleased to see one of the world’s leading integrated energy and chemicals companies and the world’s leading hydrogen supplier conclude this strategic partnership focused on generating lower-carbon intensity energy solutions guided by the Kingdom’s Vision 2030.”