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recent regulatory developments rendering existing hydroelectric power supply ineligible

Project realities set in for Tier One majors

The comments from CEO Francois Jackow followed President Trump’s decision to freeze federal funding for clean energy projects, and came as Air Liquide announced in an earnings call that it expects more final investment decisions (FID) to be pushed back to the second half of this year as customers wait on policy and economic clarity. Read more:  Air Liquide grapples with FID slowdowns At times of great uncertainty, the priority is to cloak projects in as many de-risking layers as possible. Air Liquide is partnering with ExxonMobil’s Baytown project in Texas, investing up to $850 million to build, own and operate four large modular air separation units as well as related infrastructure. It will produce a daily volume of 9,000 tonnes of oxygen which will be used by ExxonMobil’s Autothermal Reformers (ATR) to produce low-carbon… Read More »Project realities set in for Tier One majors

Air Products axes three major US projects and expects $3.1bn write-down

Air Products has exited three major US projects as its new management focuses on streamlining its backlog and prioritising initiatives that the company believes will drive shareholder value. The write-downs that attach to the three projects are large, with Air Products expecting a pre-tax charge of up to $3.1bn in its fiscal 2025 second quarter. The costs are spread across asset write-downs and penalties and costs that attach to the termination of contractual commitments. The three projects are the World Energy sustainable aviation fuel (SAF) expansion, the Massena green hydrogen project in New York, and a Texas-based carbon monoxide facility. All three projects were announced during Seifi Ghasemi’s tenure as President, CEO, and Chair. The new CEO, Eduardo Menezes, who took the reins earlier this month, has moved quickly. The World Energy project was a… Read More »Air Products axes three major US projects and expects $3.1bn write-down