Air Products CEO spells out new reality for clean hydrogen
Projects will progress only if they are backed by firm offtake deals, with much of firm’s clean hydrogen portfolio underperforming, Eduardo F. Menezes tells investors
Air Products’ recently installed CEO, Eduardo F. Menezes, has delivered a sobering assessment of the US industrial gases firm’s clean hydrogen portfolio, reflecting the new mood of caution sweeping through this once over-hyped sector. Menezes is “cautiously optimistic” about the firm’s biggest two projects: Neom Green Hydrogen in Saudi Arabia and the Louisiana Blue project in the US. However, he rated the rest of the clean hydrogen portfolio as “underperforming” as he used his second-quarter earning’s report to double down on his mission to refocus the company on its core strengths: industrial gases production backed by log-term offtake deals. Air Products is the world’s largest producer of
Also in this section
25 February 2026
Low-carbon hydrogen and ammonia development is advancing much more slowly and unevenly than once expected, with high costs and policy uncertainty thinning investment. Meanwhile, surging energy demand is reinforcing the role of natural gas and LNG as the backbone of the global energy system, panellists at LNG2026 said
18 February 2026
Norwegian energy company has dropped a major hydrogen project and paused its CCS expansion plans as demand fails to materialise
4 February 2026
Europe’s largest electrolyser manufacturers are losing patience with policymakers as sluggish growth in the green hydrogen sector undermines their decision to expand production capacity
2 February 2026
As a fertiliser feedstock, it is indispensable, but ammonia’s potential as a carbon-free energy carrier is also making it central to global decarbonisation strategies
