Gulf Cryo
Corporate brand
UnclaimedA privately held Middle Eastern industrial-gas group supplying industrial, medical, specialty gases and dry ice across the Middle East and North Africa.
Last updated August 31, 2026
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Overview
Gulf Cryo is a Middle Eastern industrial-gas group supplying gases and related services to energy, petrochemical, manufacturing, healthcare, food, construction and other industrial customers. Its portfolio includes industrial gases such as oxygen, nitrogen, argon, hydrogen, acetylene, carbon dioxide, helium and air; medical gases such as medical oxygen, medical air, medical carbon dioxide, medical nitrogen, nitrous oxide and Entonox; and dry ice. The group is described as comprising approximately thirty companies in the Middle East and North Africa and operating as a closed shareholding company. The business originated in Kuwait in 1953, when Salim Huneidi established the Kuwait Oxygen and Acetylene Company, commonly abbreviated KOAC. Huneidi had identified a local shortage of cutting and welding gases while working as an agent for an international steel-structure and construction company. He developed an oxygen-separation operation in Kuwait City and began supplying oxygen and nitrogen to the petroleum sector. An agreement with the Kuwait Oil Company helped create a commercial foundation for the venture: the oil company discontinued its small internal oxygen operation and sourced the product from local suppliers. The company expanded its industrial footprint in 1971 by moving operations into Kuwait's Shuaiba Industrial Area and establishing the Kuwait Industrial Gases Company. That operation was oriented toward the oil-refining and petrochemical infrastructure developing in Shuaiba. It also built a nitrogen pipeline connecting the company with refineries associated with the Kuwait National Petroleum Company group, enabling continuous supply rather than relying solely on cylinder distribution. Regional expansion followed. The Arabian Industrial Gases Company was formed in Sharjah, United Arab Emirates, in 1977. In 1998, Salim Huneidi's son Amer Huneidi became chairman and subsequently led the consolidation of the family's operating companies into the Huneidi Group of Companies. Gulf Cryo Qatar was established in 2006, and Gulf Cryo became a holding company in 2007. Additional establishments followed in Saudi Arabia in 2008, Oman in 2009, and Iraq, Egypt and Jordan by 2012. Carbon dioxide became an important growth and sustainability area. In 2013, Gulf Cryo partnered with EQUATE Petrochemical Company on a carbon-dioxide recovery project in Kuwait. In 2014, Gulf Cryo announced investment in four carbon-dioxide hubs in Dubai, Kuwait, Dammam and Amman, broadening its ability to recover, process, store and distribute CO2. The same year, it entered Turkey through the acquisition of Deniz Gaz and acquired a minority stake in Tyczka Air Austria. In 2015, it expanded its Turkish coverage through the acquisition of Yaliz Gaz and affiliated businesses. In February 2016, Bahrain Mumtalakat Holding Company announced that it had acquired a minority equity stake in Gulf Cryo. Gulf Cryo and EQUATE also launched what was described as Kuwait's first commercial carbon-dioxide plant. The group's market position rests on regional production, bulk and packaged-gas distribution, pipeline supply and sector-specific gas applications. Its customers include petroleum and refining facilities, hospitals and healthcare providers, manufacturers, laboratories, food processors and other users requiring controlled gas quality and continuity of supply. The company has reported management-system certifications or compliance associated with ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007 and FSC 22000 standards. Publicly available reference material does not establish a current revenue figure, stock listing, definitive corporate website or current executive roster beyond historically reported leadership.
History
Gulf Cryo traces its origins to Kuwait in 1953, when Salim Huneidi founded the Kuwait Oxygen and Acetylene Company. Huneidi had observed a shortage of cutting and welding gases while working as an agent for an international steel-structure and construction business. He responded by developing an oxygen-separation plant in Kuwait City, described in company history as the first such plant in the Persian Gulf, and began supplying oxygen and nitrogen to the local petroleum industry. A commercial relationship with the Kuwait Oil Company was an important early step. Kuwait Oil Company had operated a small oxygen plant, but an agreement with Huneidi led it to outsource oxygen procurement to local suppliers. This created a dependable industrial customer base for the new company and connected gas manufacturing with Kuwait's expanding oil infrastructure. In 1971, the business expanded to the Shuaiba Industrial Area and established the Kuwait Industrial Gases Company. The new operation supplied the oil, refining and petrochemical facilities being developed in the area. It also constructed a nitrogen pipeline to refineries associated with the Kuwait National Petroleum Company group, providing continuous nitrogen delivery for industrial operations. The regional structure broadened in 1977 with formation of the Arabian Industrial Gases Company in Sharjah, United Arab Emirates. In 1998, Amer Huneidi, Salim Huneidi's son, became chairman and later directed the consolidation of the family's companies into the Huneidi Group of Companies. Gulf Cryo Qatar was established in 2006, followed by the creation of Gulf Cryo as a holding company in 2007. Gulf Cryo Saudi Arabia was established in 2008, Gulf Cryo Oman in 2009, and operations or companies were established in Iraq, Egypt and Jordan by 2012. The group subsequently developed carbon-dioxide recovery and distribution capabilities. In 2013, it worked with EQUATE Petrochemical Company on a second CO2 recovery project in Kuwait. The following year, Gulf Cryo announced investment in four CO2 hubs located in Dubai, Kuwait, Dammam and Amman. These projects positioned carbon dioxide not only as a distributed industrial product but also as a recoverable by-product linked to petrochemical and industrial processes. Gulf Cryo expanded outside the Arab Middle East through acquisitions. In 2014, it acquired Deniz Gaz in Turkey and took a minority interest in Tyczka Air Austria. In 2015, it acquired Yaliz Gaz and related Turkish affiliates, increasing its coverage in the Turkish market. In February 2016, Bahrain Mumtalakat Holding Company announced that it had purchased a minority equity stake in Gulf Cryo. Gulf Cryo and EQUATE also launched a commercial carbon-dioxide plant in Kuwait. The modern group is described as a closed shareholding organization comprising roughly thirty companies across the Middle East and North Africa. Its activities span industrial, medical and specialty gases, with supply modes that include cylinders, bulk deliveries and pipelines. It also produces dry ice. Public reference material identifies quality, environmental, occupational-health and food-safety management standards associated with the group, but does not provide enough current information to establish its present ownership percentages, leadership team, financial performance or official web presence.
- 2016
Mumtalakat takes a minority stake
[1]Bahrain Mumtalakat Holding Company announced a minority equity investment in Gulf Cryo.
- 2015
Expansion through Yaliz Gaz acquisition
[1]Gulf Cryo acquired Yaliz Gaz and affiliated companies, expanding its Turkish market coverage.
- 2014
CO2 hub investment and Turkish entry
[1]The company announced four CO2 hubs and entered Turkey through the acquisition of Deniz Gaz while also taking a minority stake in Tyczka Air Austria.
- 2013
Kuwait carbon-dioxide recovery partnership
[1]Gulf Cryo partnered with EQUATE on a carbon-dioxide recovery project in Kuwait.
- 2007
Gulf Cryo becomes a holding company
[1]Following regional expansion, Gulf Cryo was organized as a holding company.
- 1998
Amer Huneidi becomes chairman
[1]Amer Huneidi became chairman and later led the consolidation of the family's operating companies.
- 1977
Arabian Industrial Gases Company established
[1]The group expanded into the United Arab Emirates through a company formed in Sharjah.
- 1971
Expansion into Shuaiba
[1]The business established the Kuwait Industrial Gases Company in the Shuaiba Industrial Area and developed pipeline nitrogen supply for nearby refineries.
- 1953
Kuwait Oxygen and Acetylene Company founded
[1]Salim Huneidi founded KOAC in Kuwait City and began producing industrial gases for the local petroleum industry.
Products and positioning
A regional industrial-gas platform serving energy, petrochemical, manufacturing, healthcare, food and other industrial markets through local production, bulk and packaged distribution, pipeline supply and carbon-dioxide recovery infrastructure.
Industrial gases
Industrial gases
Gulf Cryo produces and supplies oxygen, nitrogen, argon, carbon dioxide, hydrogen, acetylene, helium and air for petroleum, refining, petrochemical, fabrication, manufacturing and other industrial applications. Delivery can involve packaged cylinders, bulk distribution or dedicated pipeline infrastructure, depending on customer requirements.
Healthcare gases
Medical gases
The medical portfolio includes medical oxygen, medical air, medical carbon dioxide, medical nitrogen, medical nitrous oxide and Entonox. These products support hospitals and healthcare facilities that require controlled gas specifications and dependable supply arrangements.
Specialty and industrial gases · 2013
Carbon dioxide
Carbon dioxide is supplied as an industrial and specialty gas and became a strategic development area through recovery projects and hub investments. Gulf Cryo's partnership with EQUATE linked production and recovery infrastructure with commercial distribution in Kuwait and other regional markets.
Temperature-control products
Dry ice
Gulf Cryo produces dry ice, the solid form of carbon dioxide, for industrial, logistics, preservation and temperature-control uses. The available reference material identifies the product but does not specify a complete range of formats, applications or markets.
Brand decisions
2016
Accept a minority investment from Bahrain MumtalakatM&ABackground
Gulf Cryo operated as a privately held regional group and sought investment participation as its platform expanded.
Action taken
Bahrain Mumtalakat Holding Company acquired a minority equity stake in Gulf Cryo.
Aftermath
Mumtalakat became a minority investor; the available source does not disclose the stake percentage or transaction value.
2015
Broaden Turkish coverage through Yaliz GazM&ABackground
Following its initial Turkish entry, Gulf Cryo continued to build scale in that market.
Action taken
Gulf Cryo acquired Yaliz Gaz and affiliated companies.
Aftermath
The acquisition increased Gulf Cryo's coverage in Turkey.
2014
Enter Turkey through Deniz GazM&ABackground
Gulf Cryo sought to extend its regional industrial-gas platform beyond the Arab Middle East.
Action taken
The company acquired Deniz Gaz, a Turkish gas company, and also acquired a minority stake in Tyczka Air Austria.
Aftermath
The transactions added a Turkish operating presence and an Austrian minority investment to the group's portfolio.
2013
Expand carbon-dioxide recoveryStrategyBackground
Industrial carbon dioxide can be recovered from petrochemical processes and reused as a commercial gas.
Action taken
Gulf Cryo partnered with EQUATE on a CO2 recovery project in Kuwait and subsequently developed additional commercial CO2 infrastructure.
Aftermath
The partnership led to a commercial CO2 plant in Kuwait and supported the planned development of hubs in Dubai, Kuwait, Dammam and Amman.
2007
Create Gulf Cryo as a holding companyStrategyBackground
The family group's operating companies had expanded across several Middle Eastern markets.
Action taken
Gulf Cryo was established as a holding company to consolidate and coordinate the regional businesses.
Aftermath
The holding-company structure preceded further expansion into Oman, Iraq, Egypt, Jordan, Turkey and other markets.
Recent events
Reported
CO2 GRO and Gulf Cryo sign Middle East marketing MOU[2]
CO2 GRO announced that it signed an initial two-year MOU with Gulf Cryo. Gulf Cryo will introduce CO2 GRO’s CO2 Delivery Solutions to growers in ten markets and become CO2 GRO’s exclusive industrial CO2 gas supplier for those markets.
Sources3 sources
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