Saudi Aramco Acquires 50% Stake in Blue Hydrogen Company in Jubail
Key Ideas
- Saudi Aramco completes acquisition of 50% stake in Blue Hydrogen Industrial Gases Co. in Jubail, focusing on low-carbon hydrogen production.
- This strategic move brings together industry experts to supply hydrogen at scale and expand the hydrogen network in Saudi Arabia's Eastern Province.
- The collaboration aims to reduce emissions, drive growth, and diversify Aramco's energy portfolio, aligning with global sustainability goals.
- Commercial operations of BHIG, producing blue hydrogen through carbon capture and storage, will coincide with Aramco's CCS activities in Jubail.
Saudi Arabian Oil Co. (Saudi Aramco) has successfully completed the acquisition of a 50% stake in Blue Hydrogen Industrial Gases Co. (BHIG) based in Jubail. BHIG is a subsidiary of Air Products Qudra (APQ) and specializes in producing blue hydrogen through carbon capture and storage (CCS). The collaboration aims to supply hydrogen, including low-carbon varieties, to Jubail Industrial City at scale. By investing in BHIG, Aramco plans to expand the hydrogen network in Saudi Arabia's Eastern Province. This expansion, combined with Jubail's carbon capture hub, enables Aramco to seize global opportunities for emission reduction, growth, and energy portfolio diversification. The deal, which involved definitive agreements in July, signifies a strategic move towards sustainable energy practices and aligns with Aramco's commitment to environmental responsibility.