By Giulia Petroni

 

Air Liquide SA said Tuesday that it will invest up to 86 million euros ($103.7 million) through its joint venture Air Liquide Munay Tech Gases to acquire hydrogen and nitrogen production units from the Atyrau refinery in Kazakhstan.

The French industrial-gas company said it will operate and modernize the assets in order to supply industrial gases to the site, which is owned by state-owned oil-and-gas company KazMunayGaz.

"Up to 200 million normal cubic meters of hydrogen and up to 50 million normal cubic meters of nitrogen will be produced annually on the site for different production processes, including desulfurization of fuels," according to the company.

Air Liquide owns a 75% in share in Air Liquide Munay Tech Gases, or ALMTG, while KazMunayGaz owning the remaining 25%.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

March 02, 2021 12:16 ET (17:16 GMT)

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