In a recent development, Saudi Aramco has announced the acquisition of a 50% stake in Air Products' Blue Hydrogen Industrial Gases business. This move has led to a 3% increase in Air Products' stock value. While financial details of the deal were not disclosed, Aramco mentioned that the agreement includes provisions for the offtake of hydrogen and nitrogen. The primary objective behind this acquisition is to strengthen Aramco's lower-carbon hydrogen business. Additionally, the deal is expected to play a key role in advancing the development of a lower-carbon hydrogen network in Saudi Arabia's Eastern Province. This network will cater to both domestic and regional consumers. Notably, just two months ago, Saudi Arabia approved an $8.4 billion green hydrogen plant project led by NEOM Green Hydrogen Company, a collaboration between Air Products, ACWA Power, and NEOM. This project underscores the increasing focus on hydrogen as a clean energy source and signifies a significant step towards reducing carbon emissions in the region.