White & Case advises Aramco on acquisition of 50 percent stake in Blue Hydrogen Industrial Gases Company

Global law firm White & Case LLP has advised Aramco on its acquisition of a 50 percent interest in Blue Hydrogen Industrial Gases Company (BHIG), a wholly-owned subsidiary of Air Products Qudra, itself a joint venture between Air Products and Chemicals Inc and Vision Invest.

"We have supported our longstanding client Aramco on this important transaction, which marks a significant milestone in the growth of its new energies portfolio and the development of decarbonisation opportunities and products for global markets," said White & Case partner Michael Watson, who led the Firm's deal team.

The acquisition, which is subject to standard closing conditions, will also include options for Aramco to offtake hydrogen and nitrogen.

BHIG is currently developing an industrial scale low-carbon hydrogen production plant, together with carbon capture facilities and industrial gas pipeline network, within the Jubail Industrial City in the Kingdom of Saudi Arabia. Once constructed, the facility will be one of the largest low-carbon hydrogen production facilities in the Middle East and will assist in decarbonising existing refinery and petrochemical operations in and around Jubail.

The investment is a key part of Aramco's ambition to expand its new energies portfolio and grow its low-carbon hydrogen business, both in the Kingdom of Saudi Arabia and internationally.

The White & Case team that advised on the transaction was led by partners Michael Watson (London) and Claire Patrick (Abu Dhabi) and included partners Anwaar Alshammari, Craig Atkinson, Karim Mariey (all Riyadh), Sonia Abdul-Rahman (Dubai), Adam Pierson, Habeeb Rahman (both Abu Dhabi), Strati Sakellariou-Witt (Brussels), Seth Kerschner (New York) and Taylor Pullins (Houston), local partner Nezar Al Abbas (Riyadh) and associates Reem Albakr, Mayce Khayri, May Al-Ajlan, Hend Bahabri, Khalid Algublan, Walaa Almuhaimeed, Lubna Alamri (all Riyadh), Dylan Nathwani (Dubai), Maha Alali, Jade Konig, Olga Klyzhenko, Zoeyah Shaheen (all Abu Dhabi), Ryan Gawrych, Justin Seymour, Lia Adalia, Ruveena Kaliannan, Yoon So Lee, Henry Carlson (all London), Tommaso Poli (Brussels, Milan), Enrique Fayos de Arizon and Nela Stefanigova (both Brussels).

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