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Tue 14 Sep 2010 12:39 AM

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Saudi Aramco and Air Liquide sign $450m supply deal

Agreement will see hydrogen supplied to Aramco's refinery in Yanbu Industrial City.

Saudi Aramco and Air Liquide sign $450m supply deal
HYDROGEN DEAL: Saudi Aramco has signed a $450m deal with Air Liquide Arabia to supply hydrogen to its new refinery. (Getty Images)

State run oil firm Saudi Aramco signed a $450 million deal with Air Liquide Arabia to supply hydrogen to its new refinery, a statement said on Monday.

The supply will be for Saudi Aramco's refinery in Yanbu Industrial City, on the west coast of the kingdom.

The new incorporated Red Sea Refining Company will process 400,000 barrels of heavy crude per day when it is completed in 2014.

Under the terms of this hydrogen supply agreement, Air Liquide Arabia will invest $450 million in two global scale hydrogen production units with total production capacity of 262 million standard cubic feet per day, the statement said. (Reuters)

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