Air Products and Chemicals Inc. has agreed to acquire Sanoat Energetika Guruhi’s (Saneg; Tashkent, Uzbekistan) H₂ assets at the Fergana, Uzbekistan, oil refinery for $140 MM. The deal is expected to close in the fourth quarter. Saneg is Uzbekistan’s largest private oil and gas producer. The Fergana refinery, operated by Saneg, is undergoing modernization and expansion.

Saneg said that among the refinery’s modernization goals is helping the Uzbekistan government to diversify energy sources by scaling up the production of H₂. In 2021, the Fergana refinery chose Air Products to supply two pressure swing adsorption (PSA) units to produce H₂. The acquisition also includes a steam methane reformer.

“These assets, combined with the two PSA units originally supplied by Air Products, will ensure a reliable source of H₂ production that can fulfil the demand of the refinery as well as the merchant market,” said Saneg.

Source: S&P Global Commodity Insights