Saudi Aramco to Acquire 50% Stake in Blue Hydrogen Industrial Gases Co.
In a groundbreaking move, energy giant Saudi Aramco is on the brink of acquiring a 50 percent stake in the Jubail-based Blue Hydrogen Industrial Gases Co. This deal, subject to standard closing conditions, will not only solidify their position in the market but also open up new avenues for growth.
Expanding Portfolio and Lower-Carbon Initiatives
With this strategic investment, Saudi Aramco aims to pave the way for a lower-carbon hydrogen network in the Eastern Province of the Kingdom. This move underscores the company’s commitment to developing sustainable energy solutions and aligning with Saudi Arabia’s ambitious net-zero targets by 2060.
A New Chapter in Energy Innovation
Following the completion of the deal, Aramco and APQ are poised to jointly own a 50% stake in BHIG, positioning themselves as key players in the evolving energy landscape. This collaboration is expected to unlock exciting opportunities in the refining, chemical, and petrochemical sectors.
Driving Towards a Greener Future
BHIG’s innovative approach to producing lower-carbon hydrogen, coupled with Aramco’s expertise in carbon capture and storage, sets the stage for a sustainable energy ecosystem. By capturing and storing CO2, BHIG is aligning with Aramco’s vision for a cleaner, more efficient energy system.
Industry Leaders Join Forces
As the chairman of APQ, Samir Serhan, expressed enthusiasm for the partnership, highlighting their shared goal of providing reliable, lower-carbon hydrogen for domestic and regional markets. This collaboration signifies a significant step towards a greener, more sustainable future for the energy industry.