Saudi Arabian energy and chemicals giant Aramco has signed definitive agreements to acquire a 50% stake in Air Products Quadra’s (APQ’s) blue hydrogen industrial gases business.
News of the deal strengthens Aramco’s lower-carbon hydrogen business. The company says the investment will also contribute to a wider lower-carbon hydrogen network in the Kingdom of Saudi Arabia as a whole.
Saudi Arabia wants to become one of the largest exporters of hydrogen. To do this, it will focus on both blue and green hydrogen and invest in several large-scale hydrogen projects, such as the $5bn NEOM green hydrogen project.
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