Aramco Acquires Stake in Blue Hydrogen Industrial Gases Company in Jubail
Key Ideas
- Aramco has completed the acquisition of a 50% equity interest in the Blue Hydrogen Industrial Gases Company in Jubail, aiming to provide hydrogen at scale, including lower-carbon hydrogen.
- The joint venture between Aramco and Air Products Qudra will contribute to developing a robust hydrogen network in Saudi Arabia's Eastern Province, supporting industries like refining, chemical, and petrochemical.
- The partnership aligns with Saudi Arabia's Vision 2030, focusing on generating lower-energy solutions and reducing carbon emissions through the production of blue hydrogen from natural gas with carbon capture and storage.
Aramco has finalized the acquisition of a 50% stake in the Blue Hydrogen Industrial Gases Company located in Jubail, Saudi Arabia. The joint venture with Air Products Qudra aims to provide hydrogen, including lower-carbon 'blue hydrogen', by capturing and storing carbon dioxide from natural gas. This partnership is strategically aligned with Aramco's carbon capture and storage activities in Jubail, with plans for BHIG to commence commercial operations soon. The collaboration between Aramco and Air Products Qudra is expected to enhance the development of a hydrogen network in the Eastern Province, benefiting industries such as refining, chemical, and petrochemical. Executives from both companies expressed optimism about the partnership's potential to reduce carbon emissions, support growth, and diversify the energy portfolio in line with Saudi Arabia's Vision 2030. This initiative demonstrates a commitment to sustainable energy solutions and signifies a significant step towards promoting cleaner energy production in the region.