Recently, Air Products announced that it would no longer participate in the coal to methanol project in Bengalon, East Kalimantan, Indonesia, or other Coal gasification projects in Indonesia.
Air Products stated that last year, the financial situation of blue and green hydrogen projects underwent significant changes, driving the company to invest in these energy transformation projects around the world with increasing opportunities. Therefore, Air Products has decided to redeploy the company’s financial resources to such energy transformation opportunities. In addition, Air Products will continue to focus on its core industrial gas business in Indonesia.
In May 2020, Air Products announced the construction of a world-class coal to methanol production facility in Bengalon, East Kalimantan Province, Indonesia. The Air Products Company will invest approximately $2 billion to construct, own, and operate air separation, gasification, synthesis gas purification, and methanol production facilities, producing methanol for Bakrie and Ithaca. The project was originally expected to be put into operation in 2024.
Air products are one of the largest hydrogen producers. The company owns and operates over 100 hydrogen plants, producing over 7 million kilograms of hydrogen gas per day. The company has also set a series of sustainable development goals and commitments, and will increase additional investment of at least $4 billion over the next five years to promote the transformation of clean energy. The company promises a total investment of $15 billion in pilot projects by 2027, and promises to achieve net zero carbon emissions for its operations by 2050.