In 2015, Air Products was awarded a 20-year contract by Saudi Aramco, the largest company in the world, under a joint venture (JV) of Air Products and ACWA Holding, to build, own and operate the world’s largest industrial gas complex to supply 75,000 metric tons per day (20,000 oxygen and 55,000 nitrogen) to Saudi Aramco’s refinery and Integrated Gasification Combined Cycle being built in Jazan, Saudi Arabia. The Jazan project, now operational, was completed by Air Products’ major execution centers in the United Kingdom, United States, China and India, with active engagement of employees in Saudi Arabia.
In 2021, Air Products' JV with Aramco, ACWA Power and Air Products Qudra completed a $12 billion asset acquisition and project financing transaction to purchase the ASUs, gasification, syngas cleanup, utilities and power assets from Aramco. In January 2023, Air Products reached financial close and transfer of the second group of assets for the $12 billion gasification and power JV. The JV owns and operates the facility under a 25-year contract for a fixed monthly fee, with Aramco supplying feedstock to the JV, and the JV producing power, steam, hydrogen and other utilities for Aramco.
As a premier provider of turnkey solutions that convert hydrocarbon feedstock into synthesis gas for high-value products, Air Products meets customers where they are on their energy transition journey. Our proven gasification technologies take a full range of lower-value feedstocks and convert them in a lower-emission manner into syngas, which is then used to make higher-value products. The JV serves Aramco’s Jazan Refinery, a megaproject to process 400,000 barrels per day of the crude oil to produce the main products such as ultra-light sulphur diesel, gasoline, and other products.
