Air Products completes second Jazan JV asset purchase for $4.15B; contributed $908M

Air Products & Chemicals, Inc.

Air Products contributed ~$908M (incl. $73M from Air Products Qudra non-controlling partner) at second closing of $12B Jazan gasification JV.
JIGPC purchased additional gasification, syngas cleanup and power assets from Aramco for $4.15B; fixed monthly fee will increase.
JV capital structure: ~40% member contributions, ~60% non-recourse project financing.
Air Products holds 50.6% total ownership (46% direct + 4.6% via Air Products Qudra).
Minor final commissioning items expected later in 2023.

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