Saudi Arabia's Neom Project Nearing Completion: Progress Update
Key Ideas
- Air Products announces 80% completion of the Neom green ammonia and hydrogen project in Saudi Arabia.
- The company plans to shift focus to green ammonia sales from the Neom project.
- TotalEnergies and Air Products have agreed on a 15-year supply deal for green hydrogen in Europe.
- Despite canceling projects in the US, Air Products is actively pursuing green ammonia and hydrogen ventures globally.
Air Products, a key player in the energy markets, reported that the Neom green ammonia and hydrogen project in Saudi Arabia is now 80% complete. The collaboration with Neom for this $8.4 billion plant is in full-speed construction mode. Additionally, Air Products will be redirecting its attention towards green ammonia sales from the Neom project. The company's strategy also includes a 15-year agreement with TotalEnergies for supplying 70,000 metric tons per year of green hydrogen in Europe. Despite canceling projects in the US related to green hydrogen, sustainable aviation fuel, and carbon monoxide production, Air Products remains committed to advancing in the green ammonia and hydrogen sectors globally.