Aramco, a major global energy and chemicals company, has entered into definitive agreements to acquire a stake in the Blue Hydrogen Industrial Gases Company (BHIG), a subsidiary of Air Products Qudra (APQ) located in Jubail, Saudi Arabia. This collaboration includes options for Aramco to offtake hydrogen and nitrogen, aiming to develop a lower-carbon hydrogen network in the Kingdom's Eastern Province. With a shared ownership of BHIG, Aramco and APQ plan to each hold a 50% stake in the company, focusing on commercial production of lower-carbon hydrogen while implementing carbon capture and storage (CCS) technology. The partnership intends to drive the growth of Aramco's New Energies portfolio by providing a reliable supply of lower-carbon hydrogen to serve various industries in the region, such as refining, chemical, and petrochemical. BHIG's operations are geared towards capturing and storing CO2 during the hydrogen production process, aligning with Aramco's commitment to sustainability and the development of alternative energy solutions. The collaboration also highlights the companies' aim to establish a dynamic marketplace for lower-carbon hydrogen, utilizing expertise in CCS, hydrogen, and pipeline operations. Aramco's Executive Vice President of Strategy & Corporate Development, Ashraf Al Ghazzawi, emphasized the company's ambition to expand its new energies portfolio and support the growth of a lower-carbon hydrogen business. Dr. Samir J. Serhan, Chairman of Air Products Qudra, expressed eagerness in accelerating the hydrogen economy in the Middle East and creating the largest hydrogen network in the region. The joint efforts between Aramco and APQ reflect a positive sentiment towards advancing sustainable energy solutions and contributing to a future energy system.