By Stephen Nakrosis

Air Products on Thursday said it is "no longer involved in the coal-to-methanol Bengalon, East Kalimantan, Indonesia project, nor in other coal gasification projects in Indonesia."

The company said its confirmation came in response to media reports.

According to Air Products, "the financial landscape for blue and green hydrogen projects has significantly changed in the last year, driving increasing opportunities for Air Products to invest in these energy transition projects around the world. As a result, the Company has decided to redeploy its financial resources on such energy transition opportunities."

Air Products said it "remains committed to its core industrial gas business in Indonesia."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

March 23, 2023 16:19 ET (20:19 GMT)

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