Air Products Scraps $4.5 Billion Louisiana Hydrogen Complex, Taking Up to $2.9 Billion in Charges
Updated
Updated · 69News WFMZ-TV · Jun 30
Air Products Scraps $4.5 Billion Louisiana Hydrogen Complex, Taking Up to $2.9 Billion in Charges
2 articles · Updated · 69News WFMZ-TV · Jun 30
Summary
$4.5 billion is the size of the Louisiana clean energy complex Air Products canceled, abandoning what had been billed as its largest U.S. investment and a source of more than 750 million standard cubic feet a day of blue hydrogen.
Up to $2.9 billion in pre-tax third-quarter fiscal 2026 charges will follow, as Air Products said expected returns failed its criteria amid weak commercial conditions, project-specific economics and slower hydrogen-for-mobility demand.
Eduardo Menezes had already frozen spending on the Darrow project in May 2025 as he pushed Air Products back toward its core industrial gas business; the complex had also been delayed and challenged by local opposition and a Healthy Gulf lawsuit.
Air Products is also discontinuing a zero-carbon liquid hydrogen facility in Casa Grande, Arizona, and other smaller clean-energy distribution projects, while keeping a separate marketing deal with Yara tied to its NEOM green hydrogen project in Saudi Arabia.