DHAHRAN — Saudi Aramco, one of the world's leading integrated energy and chemicals companies, has signed definitive agreements to acquire ownership stakes in Blue Hydrogen Industrial Gases Company, a wholly-owned subsidiary of Air Products Qudra, based in Jubail. The deal includes the option to purchase hydrogen and nitrogen for Saudi Aramco. As part of its efforts to develop low-carbon hydrogen businesses and expand its portfolio of alternative energy solutions, Saudi Aramco expects that its investment in the Blue Hydrogen Industrial Gases Company will contribute to establishing a low-carbon hydrogen network in the Eastern Province of Saudi Arabia. Saudi Aramco and Air Products Qudra, a joint venture between Air Products and Qudra Energy, are expected to own a 50% stake each in Blue Hydrogen Industrial Gases. Executive Vice President for Strategy and Institutional Development at Saudi Aramco Ashraf Al-Ghazawi explained that this investment highlights Saudi Aramco's ambition to expand its portfolio of new energies and develop its business in the field of low-carbon hydrogen. He pointed that there are commercial opportunities for low-emission hydrogen, and the company aspires to benefit from its growing capabilities in the field of carbon capture and storage, and its technical expertise in the field of hydrogen. Chairman of Air Products Qudra Company Dr. Samir Sarhan confirmed the continued expansion of the established partnership with Saudi Aramco, and to accelerate the growth of the hydrogen economy, and urged the efforts of the two companies together to create the largest hydrogen network in the Middle East, which is expected to serve the refining, chemical and petrochemical industries. He also said: we are looking forward to providing the company's expertise in the field of hydrogen and pipeline business and supporting Saudi Aramco's efforts to secure reliable supplies of low-carbon hydrogen and meet local and regional needs. Blue Hydrogen, an industrial gas company designed to produce low-carbon hydrogen by capturing and storing carbon dioxide, is scheduled to begin commercial operations in line with Saudi Aramco's carbon capture and storage activities.
