There is a priceless question that needs answering along this golden track of electronic specialty gases.

Of course, you may also wonder: even with long-term contracts in place, what if problems arise—such as a customer’s technological upgrade or an unforeseen force majeure event causing production shutdowns? In such cases, the industrial gas supplier would still face risks. In fact, these risks have already been carefully addressed in the contracts. Long-term contracts between major industrial gas customers and suppliers are typically ‘take-or-pay’ agreements. Even if operational issues prevent the customer from reaching the minimum monthly gas consumption volume, the customer remains obligated to pay for that minimum volume as stipulated in the agreement. Such take-or-pay contracts ensure a baseline return for every on-site gas generation project. So now we can understand: what exactly is the essence of the industrial gas industry? The industrial gas industry is fundamentally an industrial consumer good—not a capital good—and possesses three key attributes: defensiveness, medium-to-long-term growth potential, and short-term elasticity. Major customers provide stable cash flows through 15–30-year long-term agreements, delivering defensiveness to projects and supplying the steady cash flow needed for medium- to long-term expansion capex. During economic upswings, demand from smaller and mid-sized customers boosts both volume and pricing in the merchant gas market, adding earnings elasticity. As previously noted in Jinhong Gas’s prospectus, there are two competitive pathways: one progressing from merchant gas supply to on-site gas supply; the other moving in reverse—from on-site to merchant. These two routes are not equal in strategic value. Foreign giants dominate the high ground of on-site supply to major customers—a position offering both defensive resilience and offensive flexibility. Expanding into merchant gas business from this vantage point is essentially ‘high-dimension versus low-dimension’ competition. Domestic companies, by contrast, advance from merchant to on-site supply—a ‘low-dimension versus high-dimension’ endeavor. Major customers themselves are the strongest players in their respective industries: most profitable, technologically advanced, largest in sales volume, and least likely to go bankrupt—for example, TSMC. Securing major customers enables upstream investments with confidence, leveraging maximum production scale to guarantee the lowest possible cost for industrial gases. In 2019, Linde announced its largest contract ever with ExxonMobil Asia Pacific Limited. Linde committed USD 1.4 billion to expand its existing gasification complex on Jurong Island—its single largest global investment. Linde will produce and supply hydrogen and syngas to ExxonMobil, and will also invest in a dedicated pipeline to transfer feedstocks and products between ExxonMobil’s and Linde’s facilities. Singapore has long been Southeast Asia’s largest industrial gas market—driven primarily by the massive industrial gas demand from the petrochemical complex on Jurong Island, and further propelled by its advanced electronics manufacturing sector. Statistics show that 23% of Singapore’s industrial gas revenue stems from on-site and pipeline contracts serving these industries. In 2017, Linde held approximately an 18% market share in Singapore. Since then, its regional business has steadily expanded and diversified—adding specialty gas supply for the electronics industry and extending into healthcare services. Linde also operates one of Singapore’s largest liquid CO₂ production plants and one of the largest gasification plants in the Asia-Pacific region—producing gaseous hydrogen and carbon monoxide—as well as high-performance air separation units. Linde’s massive investment in Singapore clearly signals its future dominance in the country’s industrial gas market.

Linde (China) Investment Co., Ltd.

Linde 2022 Campus Recruitment Company Overview Linde is one of the world’s leading industrial gas and engineering companies. Every day, we steadfastly pursue our corporate mission—‘Excellence in Production, Benefits for the World’—delivering high-quality technologies, services, and solutions to help our customers achieve greater success while safeguarding our planet for sustainable development. Linde Greater China’s headquarters is located in Shanghai. Across China, Linde employs approximately 2,400 people and operates over 100 on-site facilities, with business footprints spanning North China, East China, South China, and Western China. As one of China’s leading gas supply and engineering companies, Linde has established long-term partnerships with numerous industry-leading customers across sectors including chemicals, petrochemicals, metallurgy, manufacturing, electronics, food, and healthcare—supporting their success with high-quality technologies, services, and solutions. Open Positions Sales Elite Locations: Beijing, Guangzhou, Fuzhou/Xiamen, Nanjing, Ningbo, Chongqing, etc. Your experience at Linde will include: ・Rotational assignments across multiple departments in Greater China to comprehensively develop expertise in sales—or become an outstanding team leader; ・Identifying new business opportunities to accelerate growth in gas-related businesses; ・Learning and applying technical knowledge to deliver comprehensive solutions to customers; ・Negotiating and finalizing contractual terms. ・Executing contracts and maintaining strong customer relationships. We’re looking for candidates who: ・Hold a bachelor’s degree or higher—any discipline welcome; ・Possess a customer-centric mindset; ・Embrace challenges, strive for results, and demonstrate strong communication and teamwork skills. Operations Elite Locations: Shanghai, Ningbo, Yantai, Qinzhou, Huizhou, etc. Your experience at Linde will include: ・Rotational assignments across production sites and various departments in Greater China to comprehensively develop expertise in operations—or become an outstanding team leader; ・Gaining hands-on understanding and mastery of industrial gas technologies and processes, and becoming familiar with management practices of leading multinational corporations; ・Thoroughly learning and applying mechanical, electrical, and instrumentation knowledge to acquire equipment management capabilities; ・Developing and internalizing advanced SHEQ (Safety, Health, Environment, and Quality) management culture and philosophy—cultivating lifelong behavioral competencies.

ABN Amro Investment Solutions Invests $96.73 Million in Linde PLC $LIN

Jul 22, 2026

ABN Amro Investment Solutions acquired a $96.73 million stake in basic materials firm Linde PLC, marking its 10th largest holding following the company's strong quarterly earnings report.

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ABN Amro Investment Solutions Invests $96.73 Million in Linde PLC $LIN

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ABN Amro Investment Solutions Invests $96.73 Million in Linde PLC $LIN

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