Ghasemi: supporting the downstream sector in Saudi Arabia

Ghasemi: supporting the downstream sector in Saudi Arabia

Industrial gas making units to be set up

RCJY and Air Products Qudra have signed an MoU to establish world-class industrial gas production facilities and distribution networks in the kingdom

December 2019

World class industrial gas production facilities and distribution networks are set to be established in the industrial cities of Jubail and Yanbu as part of a new deal.

The Royal Commission for Jubail and Yanbu and Air Products Qudra signed a Memorandum of Understanding (MoU), last month, which sets out preliminary framework details to establish a hydrogen fueling economy in the kingdom, achieve higher values for off-gases, introduce new technologies to convert low-value feedstocks into high-value products, establish a helium recovery network, and expand the carbon-dioxide capture and re-use economy in Saudi Arabia.

The MoU supports the Royal Commission’s strategy to promote direct investments, diversify and enhance the kingdom’s economy, improve the services to its clients to help improve their business performance, and maximise localisation within Saudi Arabia, a company statement said.

Seifi Ghasemi, chairman, president and chief executive officer for Air Products, said: “It is an honour to collaborate with the Royal Commission to explore the business case to invest, build, own and operate world-scale, transformative industrial gas facilities at Jubail and further support the creation of a world-leading downstream sector in Saudi Arabia.”

Mohammad A Abunayyan, chairman of Vision Invest & Qudra Energy, said: “We are pleased about the collaboration with the Royal Commission for Jubail and Yanbu as Air Products Qudra strives to deliver world-class industrial gas infrastructure to Jubail and Yanbu.”

Dr Samir Serhan, chairman of Air Products Qudra and executive vice president for Air Products, said: “We have already started the plan to kick off our Phase 1 investments to build world-scale industrial gas production units and distribution networks in Jubail.

We look forward to bringing our full suite of capabilities to these projects and supporting essential sustainable energy production in these Industrial Cities.”

Air Products Qudra is a regional development and investment joint venture between Air Products and Qudra Energy, a subsidiary of Vision Invest, and in partnership with the Saudi Arabian General Investment Authority. Air Products is a world-leading industrial gases company developing, engineering, building, owning and operating many of the world’s largest industrial gas projects; Vision Invest is the largest private owner/operator of power and water production assets in the Middle East.

Formed following several years of partnership between its parent companies, Air Products Qudra’s mission is to bring world-class technology, on-site solutions, and leading project execution and operational leadership for large-scale energy and environmental projects throughout the Middle East region, the company said.

In operation for over 75 years, Air Products provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the world’s leading supplier of liquefied natural gas process technology and equipment.

The company had fiscal 2018 sales of $8.9 billion from operations in 50 countries and has a current market capitalisation of about $50 billion.

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