Air Products looks set to proceed with its previously at-risk Louisiana blue hydrogen plant after revealing it is in “advanced” negotiations with global fertiliser firm Yara, which is also in talks to buy ammonia volumes from the 2.2GW Neom project.
The Louisiana project had funding paused in May after the industrial gas major’s new management team looked to de-risk it by handing off the downstream carbon capture and ammonia synthesis elements.
Investors had previously questioned whether the project overstretched Air Products’ capital allocation and risk profile, as carbon capture and ammonia synthesis typically sit outside its business model.
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