April 20, 2005 Lehigh Valley, Pa.
Air Products (NYSE:APD) today announced the signing of two agreements to supply its new AP-X™ liquefaction process technology and key equipment to the proposed Qatargas 3 Joint Venture (Qatar Petroleum and ConocoPhillips) for Train 6, and to the proposed Qatargas 4 Joint Venture (Qatar Petroleum and Shell) for Train 7, each to be located in Ras Laffan, Qatar. Air Products provides natural gas liquefaction process technology, main cryogenic heat exchange equipment, plus other key process equipment in the AP-X process for world class process trains producing liquefied natural gas (LNG).
The feed gas will come from Qatar's North Field, the largest offshore non-associated natural gas field in the world, with proven natural gas reserves quoted in excess of 900 trillion cubic feet. Each AP-X LNG process train will be rated for an LNG production capacity of 7.8 million tons per year. Trains 6 and 7 are scheduled to be on-stream in 2009 and 2010, respectively.
Air Products' AP-X LNG process production capacity, which is 50 percent larger than any other LNG train currently in operation, is positioned well for a continuing market trend toward larger LNG process trains. "This novel AP-X liquefaction process provides a combination of proven Air Products process technologies and key liquefaction equipment in a way that provides the industry with low spigot cost, high reliability production, bankable projects and flexible operation as new markets develop," said Mark Modjeska, general manager, Worldwide Equipment at Air Products. Qatargas Trains 6 and 7 represent Air Products' fourth and fifth AP-X LNG process and equipment orders.
A vast majority of the total worldwide baseload LNG production capacity is produced with Air Products' technology. Air Products has designed, manufactured and exported over 70 LNG heat exchangers over the last 35 years. In support of the LNG industry, Air Products provides process license and equipment for the baseload liquefaction process, dry inert gas generators for LNG carriers, shipboard membrane nitrogen systems, membrane nitrogen and natural gas dehydration membrane systems for offshore platforms, and land-based nitrogen plants for the baseload LNG facility and LNG import terminals.
About Qatargas 3 and Qatargas 4
Qatargas 3 is a proposed joint venture between Qatar Petroleum and ConocoPhillips Qatar Ltd. Qatargas 4 is a proposed joint venture between Qatar Petroleum and Shell Gas & Power Developments B.V. For more information about Qatar Petroleum (the majority investor in each of Qatargas 3 and Qatargas 4), visit www.qp.com.qa.
About ConocoPhillips Qatar Ltd.
ConocoPhillips Qatar Ltd. is a Cayman Island company, owned by ConocoPhillips. For more information, visit www.conocophillips.com.
About Shell Gas & Power Developments B.V.
Shell Gas & Power Developments B.V. is a company incorporated in the Netherlands, and is a wholly-owned affiliate of the Royal Dutch/Shell Group of Companies. For more information about the Royal Dutch/Shell Group of Companies, visit www.shell.com.
About Air Products
Air Products (NYSE:APD) serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment and is listed in the Dow Jones Sustainability and FTSE4Good Indices. The company has annual revenues of $7.4 billion, operations in over 30 countries, and nearly 20,000 employees around the globe. For more information, visit www.airproducts.com.
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.