HomeNewsAir Liquide presses Mexico for answers after the government confiscated hydrogen plant

Air Liquide presses Mexico for answers after the government confiscated hydrogen plant

1/4/2024

Originally posted on https://financialpost.com/

French industrial gas manufacturer Air Liquide is seeking answers from the Mexican government after it took control of a hydrogen processing plant in Hidalgo state.

Air Liquide is actively engaging with authorities to understand the situation and exploring its options. This move is part of a series of conflicts between President Andres Manuel Lopez Obrador (AMLO) and private companies, as the president consolidates state power.

Previously, AMLO announced plans to acquire $6 B worth of energy assets from Iberdrola and seized a rail line owned by Grupo Mexico. The recent takeover reflects the president's strategy to assert control before the end of his term. In a separate incident, AMLO is considering buying land from Vulcan Materials Co., accusing the company of environmental damage, which led to the occupation of the land by the Mexican marines. Vulcan claims the government's actions are illegal and has included them in an ongoing arbitration case against Mexico.

Air Liquide had supplied hydrogen to the Tula refinery since 2017, and the recent takeover raises concerns about the stability of private investments in Mexico's energy sector.

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