HSF (Riyadh) has advised Air Products Qudra for Energy (“APQ”) on a landmark joint venture Saudi Aramco. In this significant transaction, Saudi Aramco will acquire a 50% stake in APQ’s wholly owned subsidiary, Blue Hydrogen Industrial Gases Company (“BHIG”).
Upon completion of the transaction, both Aramco and APQ will hold an equal 50% stake in BHIG, underscoring a shared commitment to bolstering hydrogen production and promoting sustainable energy solutions.
This partnership marks a significant step towards a more sustainable future for the Kingdom of Saudi Arabia and the wider region. The transaction involves the establishment of a low carbon hydrogen facility, a critical component of the transition towards clean energy, which aligns seamlessly with the key objectives of Saudi Vision 2030.
The team was led by Riyadh partners Joza AlRasheed and Alexander Currie and included partners Lewis McDonald (London), Steven Dalton (London), Adelaide Luke (Hong Kong), Andrew Wells (London), associates Faria Ali (London), Abigail Westby (Riyadh), Ā Simon O’Connell-Schizas (Riyadh), Saud AlQahtani (Riyadh), Ā and Ghadah Alnafea (Riyadh) and Howard Chan (Hong Kong), Riyadh based trainee associates Aljohara Al Saud, Ā Alanoud AlAssaf, Ayidh Alkahtani, and Shima Alsuwaidan.
Joza AlRasheed commented: “We are proud to have advised APQ on this significant transaction. Energy transition is a top priority for us, and our contribution in this deal represents a substantial achievement that perfectly aligns with our strategic ambitions. The hydrogen production industry in the Kingdom of Saudi Arabia signifies a shift towards a new era of sustainable energy which is a key component of Saudi Vision 2030.”
