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4worldlovers: Clean hydrogen is essential to the energy transition and in decarbonizing heavy transportation and industry. By investing billions in scaling clean hydrogen production, Air Products is showing the world we have the technology and expertise to generate a cleaner future.

During the past year, we have strengthened our sustainability goals for the future, announced impressive capital spending targets for energy transition projects, and continued work on several world-scale, first-mover clean energy projects focused on decarbonizing heavy-duty transportation and industrial sectors.

NEOM Green Hydrogen Company (NGHC) announced that following the signing of financial documents with 23 local, regional, and international banks, and investment firms, it has now achieved financial close on the world’s largest green hydrogen production facility located in NEOM’s Oxagon region, at a total value of 8.4 billion USD investment. NGHC has also concluded the engineering, procurement, and construction (EPC) agreement with Air Products as their nominated EPC contractor and system integrator for the entire facility.


Air Products to Acquire, Own and Operate Industrial Gas Complex in Uzbekistan


Air Products has signed an investment agreement with the Government of the Republic of Uzbekistan and Uzbekneftegaz JSC (“UNG”) to acquire, own and operate a natural gas-to-syngas processing facility in Qashqadaryo Province, Uzbekistan for US$1 billion.


The natural gas-to-syngas industrial complex is an integral part of state-owned energy company UNG’s multi-billion gas-to-liquid facility―one of the most advanced energy plants in the world.


The project, which is fully aligned with Air Products’ core industrial gas business and competencies, will enable UNG to focus on producing low-cost, high-purity fuels and the Republic of Uzbekistan to meet its growing energy production and societal needs.


Air Products announced the financial close and transfer of the second group of assets for the $12 billion gasification and power joint venture (JV) with Aramco, ACWA Power and Air Products Qudra in the Jazan Economic City (“Jazan”), Saudi Arabia.


The JV’s purchase of this second group of assets at Jazan follows the successful asset acquisition and project financing transactions for the first group of assets completed in late October 2021.