Air Products touches the lives of consumers around the globe in positive ways every day. Focused on serving energy, environment and emerging markets, we provide essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. We are also the global leader in the supply of liquefied natural gas process technology and equipment. Air Products develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals.
Founded in 1940, Air Products has built a reputation for its innovative culture, operational excellence and commitment to safety and the environment. Our passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities and the world.
Air Products has had a presence in the Middle East for over 50 years through a combination of wholly-owned businesses and joint venture partnerships, primarily selling liquefied natural gas (LNG) and air separation unit (ASU) equipment into the region. Over the last decade, Air Products has made several investments in the merchant and packaged gas businesses in the United Arab Emirates and the Sultanate of Oman. More recently, Air Products has grown through large projects and initiatives, completing the world's largest ASU complex at Jazan, Kingdom of Saudi Arabia; announcing plans to form an integrated gasification combined cycle (IGCC) joint venture at Jazan; launching the first hydrogen fueling station in Saudi Arabia with Saudi Aramco; and building our core competencies in the region through our world-class technology center in the Dhahran Techno Valley.
You probably don't know it, but Air Products is part of hundreds of everyday things. Our gases enhance the quality of the frozen foods you eat, make your flat-screen LCD TV look amazing, and enable MRI images of your body to help doctors treat your injury... and those are just a few of the many ways we advance your everyday life.
(Excerpt from Seifi Ghasemi's 2022 Shareholder Letter)
I am extremely proud that the people of Air Products again exceeded our financial goals in fiscal 2022, delivering impressive results despite the challenging macro-economic and geopolitical environment. I would like to thank each of our talented, dedicated and motivated employees for their exceptional efforts toward this strong performance. I am honored every day to be working alongside the team, as they continue to focus on delivering near-term results while executing on our long-term growth strategy.
There are two pillars to our growth strategy at Air Products, and sustainability is the foundation. Through our core industrial gases business, we supply customers in dozens of industries with critical products and expertise that lower emissions and increase efficiency and productivity. Through our blue and green hydrogen megaprojects, we will commit more than $15 billion by 2027 to deliver clean hydrogen at scale, helping to drive the energy transition and move humanity forward….