Progress at Neom green hydrogen project

Air Products and its subsidiaries will carry out EPC work both in Saudi Arabia and on overseas value chains

The Neom green hydrogen project in Saudi Arabia is moving ahead with a $900mn engineering, procurement and construction (EPC) contract award to industrial gases firm Air Products. Saudi utility Acwa Power (33.3pc), Air Products (33.3pc) and state economic zone developer Neom company (33.34pc) each own a share of the Neom project—the largest planned green hydrogen project in the world, which is due for commissioning in 2026. The limited notice to proceed (LNTP) contract was announced in a filing to the Saudi stock exchange. “If financial close is never achieved and project is abandoned, a maximum aggregate exposure can reach up to $300mn to Acwa… under the LNTP in relation to the EPC contract

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