Air Products has entered an agreement to acquire Saneg's hydrogen production assets at the Fergana Oil Refinery in Uzbekistan for a reported $140 million. The acquisition includes a steam methane reforming unit that can process natural gas or liquid petroleum gas to produce hydrogen for both the refinery and the wider merchant market. Air Products had previously secured a contract to supply two pressure swing adsorption units for hydrogen production at the refinery in 2021. The site is currently undergoing modernization efforts, including the introduction of hydrocracking processing and expanding the fuel processing depth. The deal also involves Air Products taking responsibility for two large-scale air separation units, auto-thermal reforming units, and a hydrogen production unit within the Uzbekistan facility. The agreement is expected to close in the fourth quarter of 2024. Bakhtiyor Fazilov, Founder of Saneg, highlighted that the agreement will strengthen Uzbekistan's energy security by increasing domestic hydrogen supplies. Seifi Ghasemi, President and CEO of Air Products, emphasized that the acquisition will aid Uzbekistan in achieving more sustainable and energy-independent operations, working towards a cleaner future for the Republic.