Aramco to acquire a 50% stake in the blue hydrogen industrial gases company of Air Products Qudra.

Aramco, an integrated energy and chemicals company, agreed to acquire a 50% stake in the blue hydrogen industrial gases company of Air Products Qudra, an energy company. Financial terms were not disclosed. “This investment highlights Aramco’s ambition to expand its new energies portfolio and grow its lower-carbon hydrogen business. We are delighted to partner with APQ on this journey and believe there are promising commercial opportunities for hydrogen with lower emissions. We intend to leverage our growing capabilities in carbon capture and storage, as well as our technical expertise in hydrogen, with the ambition to support the establishment of a vibrant marketplace for lower-carbon hydrogen — helping lay the foundations of a future energy system,” Ashraf Al Ghazzawi, Aramco Executive Vice President of Strategy & Corporate Development.