Air Liquide posted a record high revenue growth of 28.3% at EUR 29.93 bn thanks to increasing energy costs that was passed on to buyers, said the company.
The hydrogen and industrial gases company additionally emphasized that it aimed to expedite its investment for 2023, with a 40% increase for projects related to the energy transition. The increase was mainly thanks to industrial merchants, especially sales of hydrogen or oxygen to the chemical and steel industries in North America and Europe, and electronics. The company has invested nearly EUR 500 M in 2022 at three additional very high purity industrial gas manufacturing lines for two of the globally biggest semiconductor producers in Taiwan.
Air Liquide has further commenced an investment of over EUR 300 M in four Japanese units, along with semiconductor producers. In the US, the company intends to develop a semiconductor manufacturing facility in Arizona, US, and has intended to spend EUR 40 M in India for a new air gas separation line.
The group, which has developed its biggest biomethane manufacturing line in the US, also intends to expedite its investments in the US in 2023. It commissioned a hydrogen liquefier in Nevada to serve the mobility market in the US west coast, and formed a joint venture with TotalEnergies to establish a hydrogen station network in Europe. Finally, Air Liquide entered a letter of intent to exit from its activities in Russia, which will be divested to its managers. The company has not consolidated its Russian businesses since 1 Sep 2022.
We
remind, TotalEnergies plans to supply renewable energy to Sasol and Air Liquide at the Secunda chemical site in South Africa. The companies signed power purchase agreements for the supply of 260MW capacity of renewable electricity over 20 years. The French energy and petrochemicals major will develop a 120MW solar plant and a 140MW wind farm in the Western Cape province to supply around 850GWh of green electricity per year to the Sasol’s Secunda site, located 700km further northeast, where Air Liquide operates the world's biggest oxygen production site, it said. The two projects, expected to be operational in 2025, will provide renewable electricity to decarbonise Sasol and Air Liquide’s production.
mrchub.com