A legacy of ambition: Ghasemi’s billion-dollar bets

  • Gas
  • February 4, 2025

When Seifi Ghasemi took the helm as CEO of Air Products in 2014, he inherited a company at a crossroads. Over the next decade, Ghasemi set the industrial gases giant on a particular path, spearheading some strikingly ambitious projects.

From multi-billion-dollar gasification plants to groundbreaking hydrogen initiatives, Ghasemi’s tenure was defined by bold investments. As the company transitions to new leadership under former Linde executive Eduardo Menezes, we take a look back at some of the landmark projects that defined Ghasemi’s era.

One of the defining projects of Ghasemi’s leadership was the in Saudi Arabia. Valued at around $12bn, it stands as one of the largest industrial gas complexes in the world. 

The scale of the project reflected Ghasemi’s appetite for high-stakes investments that pushed Air Products’ operational capabilities and aligned with global energy shifts. The facility, designed to supply syngas for power generation, positioned Air Products as a key player in Saudi Arabia’s Vision 2030 strategy, diversifying the Kingdom’s energy mix beyond oil.

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