Pakistan says inflation expected to remain within 1-1.5% range in March 

JEDDAH: Saudi Aramco has finalized its acquisition of a 50 percent stake in Blue Hydrogen Industrial Gases Co., a joint venture with Air Products Qudra. This follows the initial agreement made last year.

The move is a key step in advancing the production of low-carbon hydrogen in Saudi Arabia’s Jubail Industrial City, supporting the establishment of a hydrogen network in the Kingdom’s Eastern Province.

BHIG is set to produce hydrogen, including lower-carbon hydrogen derived from natural gas, known as “blue hydrogen,” through the process of carbon dioxide capture and storage.

The company is expected to begin commercial operations in coordination with Aramco’s carbon capture and storage activities in Jubail, as confirmed in a joint statement from Aramco and APQ on March 24.

Ashraf Al-Ghazzawi, Aramco’s executive vice president of Strategy and Corporate Development, stated that the company’s investment in BHIG will contribute significantly to the development of the hydrogen network in Saudi Arabia’s Eastern Province.

“This network, along with our CCS hub in Jubail, can help us capitalize on emerging opportunities both domestically and globally to reduce carbon emissions, support growth, and diversify our energy portfolio,” Al-Ghazzawi said.

Ahmed Hababou, chairman of APQ, emphasized that this joint venture represents a significant step in furthering the development of a robust hydrogen network in the Kingdom’s Eastern Province, specifically serving the refining, chemical, and petrochemical industries.

Mohammad Abunayyan, vice chairman of APQ, expressed pride in the partnership with Aramco, underscoring the strategic collaboration between one of the world’s leading energy companies and the top hydrogen supplier. This partnership aims to produce lower-carbon energy solutions in line with Saudi Arabia’s Vision 2030.

In July, Aramco signed definitive agreements to acquire an equity stake in BHIG, a wholly owned subsidiary of APQ. At that time, Aramco confirmed that the deal, subject to standard closing conditions, would include options for the company to offtake hydrogen and nitrogen.

Building on its commitment to developing a lower-carbon hydrogen business and expanding its alternative energy portfolio, Aramco highlighted that its investment in BHIG would play a vital role in creating a low-carbon hydrogen network in the Eastern Province, which will cater to both domestic and regional customers.

The partnership underscores Aramco’s dedication to expanding its portfolio in new energies and promoting sustainable energy solutions, aligning with Saudi Arabia’s Vision 2030.

Additionally, the agreement brings together the expertise of both companies to provide hydrogen—including lower-carbon hydrogen — on a large scale in the Jubail Industrial City area.

This initiative is in line with Saudi Arabia’s commitment to achieving net-zero emissions by 2060 through a circular carbon economy approach, which focuses on reducing, reusing, recycling, and removing carbon.

It also supports the Saudi Green Initiative, aiming to cut carbon emissions by 278 million tonnes annually by 2030, and transition 50 percent of the country’s energy sources to renewables. Furthermore, it aligns with Aramco’s goal of achieving net-zero emissions from its own operations by 2050.

JEDDAH: King Khalid International Airport in Riyadh led Saudi Arabia’s aviation performance rankings for February, driven by improved passenger services and faster processing times, official data showed.  

The airport, handling over 15 million passengers annually, topped the Kingdom’s largest airport category with an 82 percent compliance rate, according to the General Authority of Civil Aviation’s latest report.  

It narrowly outperformed King Abdulaziz International Airport in Jeddah, which scored the same but ranked second based on evaluation criteria.  

The report assessed airports across five categories using 11 performance standards, including check-in, security, customs, and services for passengers with limited mobility. This is part of GACA’s efforts to improve transparency and service quality, aiming to enhance the travel experience across the Kingdom’s airports. 

In the second category, for terminals handling 5 to 15 million passengers annually, King Fahd International Airport in Dammam led with a 91 percent compliance rate, followed by Prince Mohammed bin Abdulaziz International Airport in Madinah at 82 percent. 

For airports handling 2 to 5 million passengers in the third category, King Abdullah bin Abdulaziz International Airport in Jazan and Abha International Airport both achieved a perfect 100 percent score. 

Arar International Airport topped the fourth category — international airports with under 2 million passengers — also with 100 percent, standing out for its low wait times on arrivals and departures. 

Gurayat led the fifth category for domestic airports with a 100 percent compliance rate, surpassing others in minimizing wait times. 

Saudi Arabia’s air travel sector posted strong gains in 2024, with total passenger numbers hitting a record 128 million — a 15 percent increase from 2023 and a 25 percent jump from pre-pandemic levels. 

Domestic flights carried 59 million passengers, while international routes accounted for 69 million. 

Flights across the Kingdom’s airports rose 11 percent to 905,000, including 474,000 domestic and 431,000 international flights, according to GACA’s Air Traffic 2024 Report. 

Air connectivity expanded 16 percent, linking Saudi Arabia to more than 170 global destinations, while cargo volumes surged 34 percent to over 1.2 million tonnes. Riyadh, Jeddah, Dammam, and Madinah airports handled 82 percent of total air traffic. 

Saudi Arabia aims to enhance air connectivity to 250 destinations, serving 330 million passengers, and double air cargo capacity to 4.5 million tons by 2030 through its National Aviation Strategy.