Just three companies control the lion’s share of the $120 billion global market for industrial gases: Linde, Air Liquide & Air Products. And because the production of these gases is so energy intensive, each company consumes as much electricity as some small to medium-sized European countries. This week on Zero, Sanjiv Lamba, CEO of Linde, tells Akshat Rathi how he sees electricity demand changing, what Linde is doing to transition to clean sources, and whether low-carbon hydrogen can ever become big business.

Explore further:
Read Akshat’s article on Linde and other hidden electricity giants.
Expect to Keep Paying Record Prices for Coffee. This Is Why

Zero is a production of Bloomberg Green. Our producer is Oscar Boyd. Special thanks to Eleanor Harrison Dengate, Siobhan Wagner, Sommer Saadi and Mohsis Andam. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.

Just three companies control the lion&rsquo;s share of the $120 billion global market for industrial gases: Linde, Air Liquide &amp; Air Products. And because the production of these gases is so energy intensive, each company consumes as much electricity as some small to medium-sized European countries. This week on Zero, Sanjiv Lamba, CEO of Linde, tells Akshat Rathi how he sees electricity demand changing, what Linde is doing to transition to clean sources, and whether low-carbon hydrogen can ever become big business.
Explore further:
<ul>
<li aria-level="1">Read <a href="https://www.bloomberg.com/news/articles/2025-10-30/industrial-gas-makers-are-among-world-s-biggest-electricity-users">Akshat&rsquo;s article</a> on Linde and other hidden electricity giants.</li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2025-10-23/why-us-coffee-prices-will-remain-high-even-if-trump-lifts-tariffs">Expect to Keep Paying Record Prices for Coffee. This Is Why</a></li>
</ul>
Zero is a production of Bloomberg Green. Our producer is Oscar Boyd. Special thanks to Eleanor Harrison Dengate, Siobhan Wagner, Sommer Saadi and Mohsis Andam. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit <a href="https://www.bloomberg.com/green">https://www.bloomberg.com/green</a>.

Zero is about the tactics and technologies taking us to a world of zero emissions. Each week Bloomberg’s award-winning reporter Akshat Rathi talks to the people tackling climate change – a venture capitalist hunting for the best cleantech investment, scientists starting companies, politicians who have successfully created climate laws, and CEOs who have completely transformed their businesses. The road to zero emissions has many paths and everyone’s got an opinion about the best route. Listen in.

Zero: The Climate Race

Zero

The world’s biggest consumers of electricity are hidden in plain sight

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8e896e93-d447-4af3-a713-b38500cf182e/transcript

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