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Analysis: Air Products and its clean hydrogen pipeline

Gas
February 5, 2025

The fall-out from the ousting of Seifi Ghasemi as CEO of Air Products throws up many questions about the future priorities of the refreshed leadership team.

One key one lies with clean hydrogen. Today Air Products has a clean hydrogen production target more than double that of its closest competitors by 2033. So any strategic shift under Air Products’ new CEO, Eduardo Menezes, could reshape the company’s role in the hydrogen market.

Data from GWGI indicate that if Menezes opts for a strategic shift, moving away from the company’s clean hydrogen pipeline will be a significant challenge.

After being appointed on Tuesday (4 February), Menezes will take over with a remit to address investor concerns on CAPEX and on Air Products’ $15bn clean project pipeline – including its blue and green hydrogen developments.

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