Air Liquide and Sogestran Partner to Develop Shipping Solutions for Carbon Management

Rhea-AI Summary

Air Liquide and Sogestran have established a joint venture to enhance large-scale liquid CO₂ shipping and barging solutions for future Carbon Capture and Storage (CCS) projects in Europe. This venture aims to strengthen Air Liquide’s carbon management strategies, facilitating the transport of captured CO₂ from industrial plants to storage sites. The agreement is pending antitrust clearance, expected to be finalized by mid-2022.

Positive

• Joint venture will enhance large-scale CO2 shipping and barging solutions, supporting CCS projects.
• Strengthens Air Liquide's carbon management capabilities.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Air Liquide (Paris:AI) and Sogestran have signed an agreement to form a joint venture¹. It will provide large-scale liquid CO₂ shipping and barging solutions tailored to the needs of future Carbon Capture and Storage (CCS) projects in Europe. This joint venture will strengthen Air Liquide’s offering on the carbon management value chain, including capture, aggregation, processing, and transport to permanent storage locations.

CCS represents one of the fundamental tools in the decarbonization process in particular for the most carbon-intensive industrial sectors. In this context, shipping will be essential to transport CO₂ from industrial plants with major CO₂ emissions, where carbon is captured, to sequestration sites, where it will be permanently stored.

Combining Air Liquide’s expertise in CO₂ with Sogestran’s experience in high value-added transportation of goods, the joint venture will transport CO₂ in its liquid form thanks to newly-designed shipping and barging solutions, invested and operated through this collaboration.

Emilie Mouren-Renouard, member of the Air Liquide Executive Committee, supervising Innovation and Development, said: “We are pleased to partner with Sogestran to offer innovative solutions in the new market of large volume CO₂ transportation. This initiative complements our carbon management technologies to support our industrial customers in their decarbonization strategies and illustrates Air Liquide's commitment to actively contribute to the emergence of a low carbon society.”

Pascal Girardet, Sogestran’s CEO, said: “Air Liquide and Sogestran have built a strong relationship over the past years, working on reliable solutions for this emerging market, in line with our corporate strategy based on innovation. Our teams have worked hand-in-hand to design ships and barges able to safely and efficiently transport liquid CO₂. This joint venture will be in a great position to offer the market solutions that will make a significant positive impact on the environment.”

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¹The creation of the joint venture is subject to clearance by the relevant antitrust competition authorities and is expected to be completed by mid-2022

About Air Liquide:

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.

Air Liquide’s ambition is to be a leader in its industry, deliver long term performance and contribute to sustainability - with a strong commitment to climate change and energy transition at the heart of its strategy. The company’s customer-centric transformation strategy aims at profitable, regular and responsible growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.

Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.

About Sogestran:

Sogestran Group, founded in 1948, is organized into four main business lines:

- Maritime, with a fleet of c.35 vessels operating in Europe, the Indian Ocean, West Africa, Caribbean, French Guyana, Polynesia and Pacific Ocean
- Barging, with over 160 inland units operating on the Rhone, Seine, Loire, Donau and Rhine rivers
- Logistics, with dedicated regular transport services of containers in France, Belgium, the Netherlands, Germany and Switzerland, by barge combined with train and truck
- Industry, with high-level installations in Le Havre, France, dedicated to storage of conditioned hazardous goods

Building on its long-standing experience of oil, chemical and gas transportation, and in support of its strong CSR policy, Sogestran Group has embraced the opportunity to develop a safe and reliable solution in support of the emerging CCS industry.

More about Sogestran : www.sogestran.com

www.airliquide.com
Follow us on Twitter @airliquidegroup

View source version on businesswire.com: https://www.businesswire.com/news/home/20220404005805/en/

AIR LIQUIDE CORPORATE CONTACTS

Corporate Communications

media@airliquide.com

Investor Relations

IRTeam@airliquide.com

SOGESTRAN CONTACT

David Patron, Commercial Director Oil, Chemicals & Gas

david.patron@sogestran.com

Source: Air Liquide

FAQ

What is the purpose of the joint venture between Air Liquide and Sogestran?

The joint venture aims to provide large-scale liquid CO2 shipping and barging solutions for Carbon Capture and Storage projects in Europe.

When is the joint venture expected to be completed?

The completion of the joint venture is anticipated by mid-2022, pending antitrust clearance.

What are the expected benefits of the Air Liquide and Sogestran joint venture?

The venture will enhance Air Liquide's carbon management offerings, enabling efficient transport of CO2 for decarbonization efforts in industrial sectors.

What is the significance of Carbon Capture and Storage in decarbonization?

CCS is crucial for reducing emissions from carbon-intensive industries, allowing captured CO2 to be transported and permanently stored.

What technologies will the joint venture utilize for CO2 transport?

The joint venture will use newly-designed shipping and barging solutions specifically for the safe transportation of liquid CO2.