Recent developments
North America build-out
Air Liquide will supply O2, N2 and Ar to the Hyundai‑POSCO low‑carbon steel plant in Louisiana, adding a new ASU and pipeline extensions along the Mississippi, with startup expected in 2028. The project is co-located with Koch Methanol St. James, supporting planned methanol optimization.
Q1 performance trends
Air Liquide posted €6.8 billion in sales (+3.4% ex‑FX/energy), €142 million efficiencies, and investment decisions of €1.5 billion, with a record €5.5 billion project backlog. Portfolio actions included the DIG Airgas acquisition, new supply to low‑carbon steel in the U.S., CO2 capture for Holcim Obourg, and ultra‑pure gases capacity in Hiroshima.
Nitrogen market shifts
Yara reported higher margins and strong volumes amid Strait of Hormuz disruptions that constrained ammonia, urea, phosphates, sulphur, and natural gas, intensifying price volatility. The company maintained high production and leveraged global sourcing to offset regional gas cost disparities.
Low‑carbon methanol build
Guangdong Liquid Sunshine selected Johnson Matthey for a 75,000 t/yr biomethanol plant in Guangxi using biomass gasification to syngas and JM’s methanol loop, with construction expected this year; a second phase could pair captured CO2 with electrolytic hydrogen for e‑methanol, expanding low‑carbon fuels output.
Compliance and governance
Linde was included in Ethisphere’s 2026 World's Most Ethical Companies list, reflecting governance and compliance programs across its industrial gases operations.
Energy context notes
TotalEnergies Q1 2026 Results and risk disclosures underscored macroeconomic, competitive, and regulatory uncertainties relevant to energy and feedstock markets affecting industrial gases.