A2DSYC Linde plc

EQS-News: Linde to Invest $1.8 Billion to Supply Clean Hydrogen to OCI’s World-Scale Blue Ammonia Project in the U.S. Gulf Coast

EQS-News: Linde plc / Key word(s): Miscellaneous
Linde to Invest $1.8 Billion to Supply Clean Hydrogen to OCI’s World-Scale Blue Ammonia Project in the U.S. Gulf Coast

06.02.2023 / 12:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


Linde to Invest $1.8 Billion to Supply Clean Hydrogen to OCI’s World-Scale Blue Ammonia Project in the U.S. Gulf Coast

Woking, UK, February 6, 2023 – Linde (NYSE:LIN; FWB:LIN) announced today that it has signed a long-term agreement to supply clean hydrogen and other industrial gases to OCI’s (Euronext: OCI) new world-scale blue ammonia plant in Beaumont, Texas.

Linde will build, own and operate an on-site complex which will include autothermal reforming with carbon capture, plus a large air separation plant. The new complex will be integrated into Linde’s extensive Gulf Coast industrial gas infrastructure. It will supply clean hydrogen and nitrogen to OCI’s 1.1 million ton per annum blue ammonia plant, the first greenfield blue ammonia facility of this scale to come onstream in the United States. Linde will supply OCI with clean hydrogen by sequestering more than 1.7 million metric tons of carbon dioxide emissions each year.

In addition to supplying OCI, Linde will also use its extensive pipeline network to provide clean hydrogen to existing and new customers in the U.S. Gulf Coast, addressing the increasing demand from companies to decarbonize their operations. The facility will also supply atmospheric and rare gases to existing and new customers. Linde's total investment will be approximately $1.8 billion and the project is expected to start up in 2025.

“Linde’s capabilities are already enabling the transition to a low-carbon-intensity economy,” said Sanjiv Lamba, Chief Executive Officer, Linde. “Our strategy is to support decarbonization by working with off-takers, like OCI, to safely and reliably supply low-carbon industrial gases at scale. With Linde’s track record in successfully executing complex projects, its extensive pipeline network, and support from the U.S. Inflation Reduction Act, the company is well positioned to secure many more clean energy projects.”

“The Beaumont facility will allow us to build and strengthen our world-leading blue ammonia and clean fuels platform, supplying both the U.S. and export markets with blue ammonia, an ideal solution to decarbonize hard-to-abate sectors such as agriculture, power and marine fuels at a competitive cost,” said Ahmed El-Hoshy, Chief Executive Officer, OCI. “Linde’s expertise in managing large-scale and complex engineering projects, and safely and reliably delivering industrial gases, made it a solid choice as a partner for this project.”

As one of the world’s leading industrial gases and engineering companies, Linde is playing a key role in the clean energy transition. The company is actively helping its customers to decarbonize their operations with the latest hydrogen technologies through its world-class engineering organization, key alliances and ventures, and leveraging its extensive experience and infrastructure. Linde is developing clean hydrogen projects across a range of applications and industries and growing its established hydrogen business along the entire value chain.

 

About Linde

Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.

The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

For more information about the company and its products and services, please visit

 
Contacts:
 
 
 
Investor Relations 
Juan Pelaez
Phone:
Email:
 
Media Relations
Anna Davies
Phone:
Email:
 

 



06.02.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at -news.com


Language: English
Company: Linde plc
Forge, 43 Church Street West
GU21 6HT Woking, Surrey
United Kingdom
Phone:
E-mail:
Internet:
ISIN: IE00BZ12WP82
WKN: A2DSYC
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Moscow, NYSE, Luxembourg Stock Exchange (Euro MTF)
EQS News ID: 1552395

 
End of News EQS News Service

1552395  06.02.2023 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1552395&application_name=news&site_id=research_pool
EN
06/02/2023

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Linde plc

Alfonso Mariategui
  • Alfonso Mariategui

AIR LIQUIDE / LINDE: A-GAS-AJANDO AL INVERSOR (ANÁLISIS BANCO SABADELL...

A-gas-ajando al inversor. Mantenemos SOBREPONDERAR en ambas. Aquellos que se compraron hace 5 años a los principales players del sector gasístico europeo (AI y LIN) y han “dejado” a las acciones hacer su trabajo se han visto agasajados con unas rentabilidades del +35% y +146% vs Euro STOXX 50 respectivamente. Esto es reflejo de las cualidades del sector (oligopolio, barreras de entrada, capacidad para traspasar e incrementar precios, resiliencia y visibilidad de crecimiento futuro), que vemos c...

Research Department
  • Research Department

INFORME DIARIO 22 NOVIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: COLONIAL, GRIFOLS, IMPUESTOS, SECTOR BANCARIO. EUROPA: AIR LIQUIDE, LINDE. Dudas en los mercados Jornada de menos a más tras los resultados de Nvidia en las bolsas europeas, que terminaron con subidas moderadas y con el Ibex recuperando los 11.600 puntos. Así, dentro del STOXX 600, Seguros y Energía lideraron las ganancias, frente a Telecos y Bienes de Consumo que terminaron con las mayores caídas. En la Eurozona la confianza del consumidor prelim...

Alfonso Mariategui
  • Alfonso Mariategui

LINDE: RDOS. 3T’24 Y CAMBIO DE P.O. A LA BAJA (ANÁLISIS BANCO SABADELL...

Rdos. 3T'24 vs 3T'23: Ventas: 8.356 M dólares (+2,5% vs +2,8% BS(e) y +2,8% consenso); EBIT ajustado: 2.477 M dólares (+7,4% vs +6,4% BS(e) y +5,2% consenso); BDI ajustado: 1.896 M dólares (+6,3% vs +5,8% BS(e) y +5,7% consenso); Rdos. 9meses'24 vs 9meses'23: Ventas: 24.723 M dólares (+0,7% vs +0,8% BS(e) y +0,8% consenso); EBIT ajustado: 7.240 M dólares (+6,5% vs +6,2% BS(e) y +5,8% consenso); BDI ajustado: 5.576 M dólares (+6,5% vs +6,3% BS(e) y +6,3% consenso).

Research Department
  • Research Department

INFORME DIARIO 29 0CTUBRE + RDOS. ESPAÑA Y EUROPA 3T’24. IDEAS DESTACA...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: BANCO SANTANDER, ECOENER, FERROVIAL. EUROPA: ADIDAS, LINDE. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 3T’24 que se publicarán en España y Europa en los próximos días. El Ibex reconquista los 11.900 puntos La semana previa a las elecciones en EE.UU. cuando publicarán resultados las “7 magníficas” arran...

Alfonso Mariategui
  • Alfonso Mariategui

LINDE: RDOS. 2T’24 (ANÁLISIS BANCO SABADELL)

Rdos. 2T'24 vs 2T'23: Ventas: 8.267 M dólares (+0,7% vs +0,9% consenso); EBIT: 2.286 M dólares (+8,6% vs +18,4% consenso); Rdos. 1S'24 vs 1S'23: Ventas: 16.367 M dólares (-0,2% vs +8,5% consenso); EBIT: 4.492 M dólares (-0,1% vs +13,5% consenso).

ResearchPool Subscriptions

Get the most out of your insights

Get in touch