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AIR LIQUIDE

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Air Liquide, TotalEnergies to Work Together on Low-Carbon Hydrogen Production

09/14/2021 | 03:04am EDT

By Giulia Petroni

Air Liquide SA said Tuesday that it is partnering with TotalEnergies SE to optimize performance at the French oil-and-gas major's hydrogen platform in Normandy, France and develop a low-carbon hydrogen network.

The French industrial-gas company said that it will take over and operate TotalEnergies' hydrogen production unit of 255 tons a day under a long-term contract agreement, ultimately connecting it to its network.

Financial details weren't disclosed.

The companies also plan to jointly develop a carbon capture and storage project that will decarbonize the hydrogen produced at the site.

Transferring the hydrogen production unit to Air Liquide is subject to the approval of competent authorities as well as the process of consulting employee representatives at the TotalEnergies Normandy platform.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

09-14-21 0504ET

Stocks mentioned in the article
ChangeLast1st jan.
AIR LIQUIDE -0.24% 142.96 Real-time Quote.6.74%
TOTALENERGIES SE 0.44% 44.65 Real-time Quote.25.93%
WTI -0.72% 82.41 Delayed Quote.69.35%
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Financials
Sales 2021 22 131 M 25 698 M 25 698 M
Net income 2021 2 608 M 3 028 M 3 028 M
Net Debt 2021 11 139 M 12 934 M 12 934 M
P/E ratio 2021 25,8x
Yield 2021 2,06%
Capitalization 67 558 M 78 392 M 78 444 M
EV / Sales 2021 3,56x
EV / Sales 2022 3,36x
Nbr of Employees 64 500
Free-Float 97,0%
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Number of Analysts 29
Last Close Price 143,30 €
Average target price 160,24 €
Spread / Average Target 11,8%
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Managers and Directors
Benoît Potier Chairman & Chief Executive Officer
Jerome Jenamarie Pelletan Chief Financial Officer
Jean-Paul Agon Lead Independent Director
Siân Herbert-Jones Independent Director
Sin Leng Low Independent Director
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