Linde, Sipchem to Develop Saudi Gases

Germany's Linde and Saudi International Petroleum Co (Sipchem) have signed an exclusive agreement to form a partnership to develop industrial gas projects and networks in Saudi Arabia, the latter said on December 15.

The pair's 50:50 joint venture will build an industrial gases network in the Jubail industrial city linked by pipeline to existing hydrogen and syngas plants owned and operated by the two firms, Sipchem said in a filing on Saudi Arabia's Tadawul bourse.

"The main focus will be on the development of new production facilities in order to supply carbon monoxide, hydrogen, syngas ammonia and associated gases alongside efficient solutions for the decarbonisation of downstream production in industrial clusters in the kingdom," Sipchem said.

The joint venture could unlock as much as $500mn in investment opportunities over the next five years, depending on projects' economic viability, the company added.