Air Products finalizes agreement for Jazan refinery

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Air Products announces the finalization of an agreement with Aramco, ACWA Power and Air Products Qudra.
The agreement covers the operation of Aramco’s large Jazan refinery.

Air Products signs $12 billion contract

On October 28, 2021, Air Products hosted a teleconference between several investors.
The company announced the finalization of the joint venture agreement with Aramco, ACWA Power and Air Products Qudra.
Air Products Qudra is itself a company owned 51% by Air Products and 49% by Qudra Energy.
The agreement provides for project financing of up to $12 billion by the co-contractors.
The Jazan refinery in Saudi Arabia is to be equipped with electricity, gas and air separation units.
Air separation enables synthesis gases to be obtained by cryogenics. width= The joint venture has purchased the air separation units, gas services and syngas cleaning.
It will operate the plant under a 25-year contract.

400,000 barrels per day

Air Products owns 46% of the joint venture, while Air Products Qudra owns 9%.
Aramco, via its subsidiary Saudi Aramco Power Company, owns 20%.
Finally, ACWA Power owns 25% of the joint venture.
The Jazan refinery is a mega-project crude oil processing plant.
The plant will process up to 400,000 barrels per day.
This oil will be used to produce gasoline, ultra-light diesel and other products.
With this agreement, Air Products reinforces its position as a long-standing leader in the global industrial gases market.
The company is particularly active in the production and operation of syngas.
Air Products is now investing in carbon capture technologies, a major technique for offsetting emissions.

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