Air Products Will Not Proceed with Louisiana Clean Energy (LCEC) Project; Company Will Record Pre-Tax Charge in Fiscal Third Quarter; Finalizing Agreement with Yara for Renewable Ammonia from NEOM Green Hydrogen Project in Saudi Arabia
Air Products will not proceed with the Louisiana Clean Energy Complex (LCEC) project after determining expected financial returns did not meet its criteria. The decision to exit LCEC and discontinue a zero-carbon liquid hydrogen facility in Casa Grande, Arizona will result in a pre-tax charge of up to $2.9 billion in the fiscal third quarter.
Key figures
- Pre tax charge max
- $2.9 billion
- After tax charge est
- $2.2 billion
AI analysis
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