Recent developments
Earnings and M&A
Air Liquide reported Q3 2025 sales growth and record efficiencies, with a near-€5 billion backlog and progress on large assets, including the 200 MW ELYgator electrolyzer. To finance the planned acquisition of DIG Airgas, it issued a €2.15 billion multi-tranche bond. The company also agreed to acquire NovaAir to expand in India. Linde reported its third quarter 2025 financial results, highlighting exposure to clean hydrogen, CCUS, and specialty gases.
Hydrogen build-out
Topsoe opened Europe’s largest SOEC manufacturing facility in Denmark, starting at 500 MW and scalable to 10 GW, aiming to lower green hydrogen costs for industry. RWE advanced a hydrogen-compatible combined cycle power plant in Voerde, targeting 2030 start-up under a national tender regime. Duisburg and Rotterdam ports formalized cooperation on CO2 export and CCUS corridors to support Rhine industrial clusters.
Renewables for oxygen
Sasol and Air Liquide inaugurated the Damlaagte PV Facility supplying Secunda’s oxygen operations, expected to enable 30–40% CO2 reductions for the site by 2031.
Digital emissions control
Worley’s EmissionsView platform for the gas and LNG sector was recognized for enabling asset-level emissions tracking and compliance-ready reporting.
Terminals and logistics
OTTCO and Royal Vopak formed a joint venture in Duqm to develop storage and terminal capacity supporting conventional products and emerging energy carriers tied to the energy transition.