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Royal Commission for Jubail and Yanbu and Air Products Qudra Sign MOU to Establish World-Class Industrial Gas Production Facilities and Distribution Networks

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Royal Commission for Jubail and Yanbu and Air Products Qudra signed a Memorandum of Understanding (MOU) to establish world-class industrial gas production facilities and distribution networks in the industrial cities of Royal Commission. 

The MOU sets preliminary framework details for Air Products Qudra 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 the Kingdom of Saudi Arabia. 

The MOU supports 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 maximize localization within the Kingdom of Saudi Arabia. 

Seifi Ghasemi, Chairman, President and Chief Executive Officer for Air Products, said, “It is an honor 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.”

About Air Products Qudra

About Air Products

Note

This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company’s Form 10K for its fiscal year ended September 30, 2018.