Air Products says it will not proceed with Louisiana Clean Energy (LCEC) project
In Pennsylvania, Air Products announced it will not proceed with the Louisiana Clean Energy Complex (LCEC) project.
The LCEC project exit and other portfolio actions will result in a pre-tax charge in Air Products’ fiscal third quarter. Air Products also announced it is finalizing a marketing and distribution agreement with Yara International ASAfor renewable ammonia from the NEOM Green Hydrogen Project in Saudi Arabia.
The announcement that Air Products will not move forward with the LCEC is based on expected financial returns not meeting stringent return criteria, the firm said.
In addition, Air Products said it will discontinue a zero-carbon liquid hydrogen facility in Casa Grande, Arizona and other smaller scale projects supporting clean energy distribution. These exits are being driven by challenging commercial conditions, project-specific economic factors, and slower-than-expected development in certain markets, largely hydrogen for mobility, according to the firm.
Category: Hydrogen
