Updated
Updated · 69News WFMZ-TV · Jun 30
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.

Insights

Why did Wall Street reward Air Products for abandoning its massive clean energy project?
As American clean energy projects collapse, is the U.S. ceding hydrogen leadership to other nations?