Saudi Aramco has completed the 50% acquisition of Air Products Qudra’s (APQ) Saudi-based blue hydrogen subsidiary, Blue Hydrogen Industrial Gases Company (BHIG).
After agreeing on the deal last July, the partners plan to deliver low-carbon hydrogen – produced from methane with carbon capture – via pipeline to the Jubail Industrial City.
H2 View understands that the acquisition will also include options for Aramco to offtake core ammonia components hydrogen and nitrogen from BHIG.
The network, in combination with Aramco’s carbon capture and storage (CCS) hub in Jubail, will help the firm capitalise on domestic and global opportunities to diversify its energy portfolio, according to the Executive Vice President of Strategy & Corporate Development, Ashraf Al Ghazzawi.
“This joint venture is another example of the steps Aramco and APQ are taking to contribute to the development of a robust hydrogen network in the Kingdom’s Eastern Province, serving the refining, chemical and petrochemical industries,” added Ahmed Hababou, APQ Chairman.
Saudi Arabia already consumes 2.5 million tonnes of hydrogen across refineries, steel, ammonia, and methanol. It’s reportedly eyeing 4 million tonnes of low-carbon production annually by 2035.
KAPSARC forecasts Saudi blue hydrogen could hit $1.13/kg by 2030, undercutting green hydrogen at $1.48/kg – if CCS and electrolyser costs keep falling.
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