September 01, 2009 Lehigh Valley, Pa.
Air Products (NYSE: APD), the leading global hydrogen provider, today announced it has purchased a new steam methane reformer (SMR) hydrogen facility under construction in Corpus Christi, Texas, from MarkWest Energy Partners, L.P. (NYSE:MWE). The facility, which will produce over 30 million standard cubic feet per day, will be owned and operated by Air Products and is expected to be on-stream in March 2010. The companies also signed a separate long-term supply agreement whereby Air Products will provide hydrogen and steam to MarkWest. MarkWest will utilize the products produced by the SMR facility combined with its existing production capabilities to deliver high-purity hydrogen to local refinery customers.
“Air Products looks forward to expanding its U.S. Gulf Coast hydrogen production expertise in the Corpus Christi refining region,” said Heather Remley, manager–West Gulf Coast Area Tonnage Gases for Air Products. “The transaction is a win-win for clients in the region as it combines MarkWest’s strong customer relationships with Air Products’ world-class operating capabilities and experience.”
The new investment in Corpus Christi strengthens Air Products’ leading hydrogen position in the U.S. Gulf Coast, which is comprised of numerous production facilities and over 450 miles of pipelines reaching from the Houston Ship Channel in Texas to Lake Charles, Louisiana, and from the city of Plaquemine, Louisiana to Chalmette, east of New Orleans. Air Products also completed a pipeline connection across Lake Pontchartrain earlier this year and is in the process of building two new steam methane reformers in the Louisiana portion of its Gulf Coast system.
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. 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. Air Products had fiscal 2008 revenues of $10.4 billion, operations in over 40 countries, and 21,000 employees around the globe. For more information, visit:
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.