Dhahran : Saudi Aramco, a global integrated energy and chemicals company, signed definitive agreements to acquire an equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company (BHIG), a wholly owned subsidiary of Air Products Qudra (APQ).
The transaction, which is subject to standard closing conditions, will also include options for Aramco to offtake hydrogen and nitrogen.
As part of its efforts to develop low-carbon hydrogen businesses and expand its alternative energy solutions portfolio, Aramco expects its investment in BHIG will contribute to the development of a lower-carbon hydrogen network in the Kingdom of Saudi Arabia’s Eastern Province, serving both domestic and regional customers, the Saudi Press Agency (SPA) reported.
BHIG, which is designed to produce lower-carbon hydrogen while capturing and storing carbon dioxide (CO2), intends to commence commercial operations in coordination with Aramco’s CCS activities.
