Aramco Acquires 50% Stake in BHIG
Through the partnership, Aramco aims to accelerate industrial carbon reduction and grow the hydrogen economy.
Aramco aims to accelerate industrial carbon reduction and grow the hydrogen economy through a partnership it has finalized.
Aramco, one of the world's leading integrated energy and chemicals companies, and Air Products Qudra (APQ) announced the completion of a 50 percent stake acquisition in Aramco's Jubail-based Blue Hydrogen Industrial Gases Company (BHIG). This agreement brings together companies with expertise in their respective fields to scale hydrogen production, particularly low-carbon hydrogen, in the Jubail Industrial City region.
BHIG aims to produce hydrogen including "blue hydrogen" derived from natural gas and generated through carbon capture and storage. The company is expected to commence commercial operations focused on blue hydrogen production in coordination with Aramco's carbon capture and storage (CCS) activities.
Ashraf Al Ghazzawi, Executive Vice President of Strategy and Corporate Development at Aramco, stated: "Aramco's investment in BHIG aims to contribute to the development of a hydrogen network in Saudi Arabia's Eastern Region. This network, together with our CCS center in Jubail, can help us pursue opportunities to reduce carbon emissions, support growth, and diversify our energy portfolio at both local and global scales."
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