SUBSCRIBE
PROFILE

ACWA Power launches a Joint Venture for its IGCC Project

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99$/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

ACWA Power announces the financial close of the $12 billion IGCC Joint Venture in Saudi Arabia. The project is a joint venture between AramcoACWA Power, Air Products and Air Products Qudra.

ACWA Power announces financial close of its IGCC project

ACWA Power, today announced the financial close of its integrated gasification combined cycle project at Jazan combined-cycle gasification project.
L’entreprise se spécialise dans l’investissement et l’exploitation d’usines de production d’électricité, d’eau dessalée et d’hydrogène vert.

The joint venture will complete commissioning and begin operating the plant to supply electricity and hydrogen.
Plant services will supply theAramco refinery à Jazanas part of a 25-year contract with the company.

acwa power

Largest project financing agreement in the company’s history

Financial close of the Jazan took place on October 18, 2021.
Local, regional and international banks and financial institutions raised $7.2 billion.
Certain aspects of the limited recourse project financing involve the participation of the Saudi Industrial Development Fund (SIDF).
In addition, the transaction is the largest project financing agreement in ACWA Power’s history.

Tripartite alliance between Aramco, Air Products and ACWA Power

Located in JazanThe IGCC plant in Saudi Arabia is the largest of its kind in the world.
The JV has purchased Aramco gasification facilities, gas cleaning, utilities and energy assets.
The joint venture owns and operates the facility under a 25-year contract for a fixed monthly fee.

Saudi Aramco supplies raw materials to the joint venture produces; electricity, steam, hydrogen and other utilities for Aramco. The latterthrough its subsidiary Saudi Aramco Power Companyholds a 20% stake in the joint venture.

The other members share the joint venture as follows: Air Products 46%, ACWA Power 25%; and Air Products Qudra 9%. The joint venture serves the Jazan refinery refinery at Saudi Aramco, which processes 400,000 barrels per day of crude oil.
Production is split between ultra-low sulfur diesel, gasoline and other products.

  • Popular on energynews.pro
Datang launches green hydrogen complex at Duolun integrated into coal-to-chemicals
Blackstone injects $1.2bn into West Virginia’s first natural gas power plant
EDF expands access to nuclear contracts in response to regulatory changes
Canada approves second series of energy projects worth $56 billion
Enerfip acquires Lumo and exceeds 50% market share in France
Aramco commits over $30 billion to new strategic deals in the United States
Aramco has signed 17 new memoranda of understanding with U.S. companies, covering LNG, advanced materials and financial services, with a potential value exceeding $30 billion.
Bratislava considers suing the European Union over Russian gas halt
The Slovak government is reviewing a potential lawsuit against the European Commission following its decision to end Russian gas deliveries by 2028, citing serious economic harm to the country.
EU eases gas storage rules for 2025-2027 with greater flexibility
The European Union is extending its gas storage regime, keeping a legal 90% target but widening national leeway on timing and filling volumes to reduce the price pressure from mandatory obligations.
Mozambique launches audit on $4.5bn cost overrun of TotalEnergies project
The Mozambican government has initiated a review of the expenses incurred during the five-year suspension of TotalEnergies' gas project, halted due to an armed insurgency in the country’s north.
Rig count drops in the United States despite record production
The number of active drilling rigs in the continental United States continues to decline while oil and natural gas production reaches historic levels, driven by operational efficiency gains.
Shell sells 50% of Tobermory to Ithaca to share UK fiscal risk
Shell sells a 50% stake in Tobermory West of Shetland to Ithaca Energy, while retaining operatorship, reinforcing a partnership already tested on Tornado, amid high fiscal pressure and regulatory uncertainty in the North Sea.
Novatek sells liquefied gas with 40% discount to China despite sanctions
Russian company Novatek applied major discounts on its liquefied natural gas cargoes to attract Chinese buyers, reviving sales from the Arctic LNG 2 project under Western sanctions.
Ukraine receives 100 mn m³ of US gas via Lithuania
A first vessel chartered by a Ukrainian trader delivered American liquefied gas to Lithuania, marking the opening of a new maritime supply route ahead of the winter season.
Mozambique LNG, criminal complaint and economic recovery under judicial pressure
A German NGO has filed in France a complaint against TotalEnergies for alleged war crimes complicity around Mozambique LNG, just as the country seeks to restart this key gas project without any judicial decision yet on the substance.
Hut 8 sells 310 MW gas-fired portfolio to TransAlta after asset optimisation
Hut 8 transfers four natural gas power plants to TransAlta following a turnaround plan and five-year capacity contracts secured in Ontario.
Tokyo Gas sells TVL LLC to Grayrock Energy for $255mn and reallocates its US gas portfolio
By selling its US subsidiary TVL LLC, active in the Haynesville and Cotton Valley formations in Louisiana, to Grayrock Energy for $255mn, Tokyo Gas pursues a targeted rotation of its upstream assets while strengthening, through TG Natural Resources, its exposure to major US gas hubs supporting its LNG value chain.
TotalEnergies signs €5.1bn deal with EPH for 14 GW of flexible capacity
TotalEnergies acquires 50% of a flexible power generation portfolio from EPH, reinforcing its gas-to-power strategy in Europe through a €10.6bn joint venture.
ConocoPhillips reveals major new gas discovery offshore Australia
The Essington-1 well identified significant hydrocarbon columns in the Otway Basin, strengthening investment prospects for the partners in the drilling programme.
India signs major US LPG deal under diplomatic pressure
New Delhi secures 2.2 million tonnes of liquefied petroleum gas annually from the United States, a state-funded commitment amid American sanctions and shifting supply strategies.
INNIO deploys 450 MW flexible power plant to support UK grid
INNIO and Clarke Energy are building a 450 MW gas engine power plant in Thurrock to stabilise the electricity grid in southeast England and supply nearly one million households.
Aramco deploys autonomous AI agents to optimise Fadhili gas plant
Aramco and Yokogawa have completed the deployment of autonomous artificial intelligence agents in the gas processing unit of Fadhili, reducing energy and chemical consumption while limiting human intervention.
S‑Fuelcell intensifies GFOS rollout to support AI data centres
S‑Fuelcell is accelerating the launch of its GFOS platform to provide autonomous power to AI data centres facing grid saturation and a continuous rise in energy demand.
Aramco reportedly targeting 10 mtpa of US LNG in global gas strategy
Aramco is reportedly in talks with Commonwealth LNG and Louisiana LNG, according to Reuters, to secure up to 10 mtpa in the “2029 wave” as North America becomes central to global liquefaction growth.
Ukraine secures up to €2bn in Greek gas under new winter partnership
Kyiv signs a gas import deal with Greece and mobilises nearly €2bn to offset production losses caused by Russian strikes, reinforcing a strategic energy partnership ahead of winter.
ADNOC Gas posts record $1.34 billion profit in Q3
UAE-based ADNOC Gas reports its highest-ever quarterly net income, driven by domestic sales growth and a new quarterly dividend policy valued at $896 million.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

START - 99$/year

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.