Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has completed the acquisition of a 50% equity interest in the Jubail-based Blue Hydrogen Industrial Gases Company (BHIG), according to a press release.
Air Products Qudra noted that this step aims at providing the Jubail Industrial City area with hydrogen, including lower-carbon hydrogen, at scale.
Ashraf Al Ghazzawi, Aramco Executive Vice President of Strategy and Corporate Development, said: “Aramco’s investment in BHIG is expected to contribute to the development of a hydrogen network in Saudi Arabia’s Eastern Province.”
“This network, along with our CCS hub in Jubail, can help us capitalise on emerging opportunities both domestically and globally to reduce carbon emissions, support growth, and diversify our energy portfolio,” Al Ghazzawi highlighted.
Mohammad Abunayyan, Vice Chairman of Air Products Qudra, commented: “We are proud of this partnership with Aramco and pleased to see one of the world’s leading integrated energy and chemicals companies and the world’s leading hydrogen supplier conclude this strategic partnership focused on generating lower-carbon intensity energy solutions guided by the Kingdom’s Vision 2030.”
BHIG targets the production of hydrogen, including lower-carbon hydrogen from natural gas, through the capture and storage of carbon dioxide.
It is expected to begin commercial operations to produce blue hydrogen in coordination with Aramco’s carbon capture and storage (CCS) activities in Jubail.
At the end of December 2024, Aramco generated 12.39% lower net profits at SAR 398.42 billion, compared to SAR 454.76 billion in 2023.
