Linde Signs MoU with CNOOC to Jointly Develop China's Hydrogen Energy Industry

Linde (NYSE: LIN; FWB: LIN) announced today that it has signed a memorandum of understanding (MoU) with China National Offshore Oil Corporation's (CNOOC) subsidiary, CNOOC Energy Technology & Services, to jointly develop the hydrogen energy industry in China. Together, both companies will explore the option to invest in hydrogen production and filling facilities, and further the use of hydrogen in industrial applications, particularly mobility.

"This MoU builds on a history of close cooperation between Linde and CNOOC. Linde is a global leader in hydrogen technology and mobility solutions, and we are proud to work with CNOOC to develop the hydrogen energy industry in China," said Sanjiv Lamba, Executive Vice President and CEO Asia Pacific, Linde. "Together, we will leverage our complementary strengths and work towards a more sustainable, low-carbon future for China."

"Developing the new energy industry is an important priority for CNOOC," said Li Xinzhong, President of CNOOC Energy Technology & Services. "Linde has industry-leading expertise in hydrogen and hydrogen refueling technology and we look forward to collaborating with Linde to jointly develop China's hydrogen energy industry."

Linde is a global leader in the production, processing, storage and distribution of hydrogen. It has the largest liquid hydrogen capacity and distribution system in the world. The company also operates the world's first high-purity hydrogen storage cavern coupled with an unrivalled pipeline network to reliably supply its customers. Linde is at the forefront in the transition to clean hydrogen and has installed over 180 hydrogen fueling stations and 80 hydrogen electrolysis plants worldwide. The company offers the latest electrolysis technology through its newly formed joint venture ITM Linde Electrolysis. The company is a founding member of the global Hydrogen Council and the China Hydrogen Alliance, which was formed to explore the contribution and potential of hydrogen as a key element of the clean energy transition.

CNOOC Energy Technology & Services is a new energy subsidiary of CNOOC, China's third largest national oil company. CNOOC has a strong hydrogen production capacity and large footprint of filling stations in the coastal areas of the country.