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Company Cancels $4.5B Louisiana Carbon Capture Project
Air Products said weak demand and high costs drove the cancellation, and it will also discontinue smaller clean-hydrogen projects.
- On Tuesday, Air Products announced it is scrapping the Louisiana Clean Energy Complex and will take a pretax charge of up to $2.9 billion in its fiscal third quarter tied to the cancellation.
- The company halted the project because expected financial returns failed to meet its "stringent" criteria, citing challenging commercial conditions and slower-than-expected hydrogen market development.
- Air Products also will discontinue a zero-carbon liquid hydrogen facility in Casa Grande, Arizona, and other smaller-scale projects supporting clean energy distribution efforts.
- The Trump administration's signature tax bill slashed hydrogen fuel credits, making the cancellation the latest setback for clean fuel development in the United States.
- "Market reality is not matching the exuberance" seen a few years ago, said Joseph Majkut, director at the Center for Strategic and International Studies, citing reduced government support for climate action.
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The collapse of this $4.5B project could reshape Louisiana's industrial playbook
The collapse of Air Products' planned $4.5 billion Louisiana Clean Energy Complex is more than the loss of a single megaproject. It could reshape how companies view future carbon capture investments i… Already an INSIDER? Sign in. Already an INSIDER? Sign in
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shreveportbossieradvocate.com
shreveportbossieradvocate.comAir Products cancels $4.5 billion project to inject carbon dioxide under Lake Maurepas
Air Products will not proceed with its Louisiana Clean Energy Complex, a $4.5 billion blue hydrogen and carbon capture project in Ascension Parish. The company cited financial returns and will take a pre-tax charge of up to $2.9 billion.
·Baton Rouge, United States
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Coverage Details
Total News Sources12
Leaning Left0Leaning Right1Center7Last UpdatedBias Distribution88% Center
Bias Distribution
- 88% of the sources are Center
88% Center
C 88%
12%
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