German industrial gases group Linde AG is about to receive a major order from a Russian company, two people familiar with the deal told Reuters on Monday.
The order for Linde’s engineering unit comes from a company from the republic of Tatarstan and will be signed on Friday at the St. Petersburg economic forum, the sources said.
German newspaper Sueddeutsche Zeitung reported on Monday that the deal was worth about 1 billion euros ($1.12 billion).
A Linde spokesman declined to comment.
Linde said last week that it had reached a deal in principle with peer Praxair on a Business Combination Agreement for a proposed $70 billion merger.
By Joern Poltz
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?