Agreement is Company’s Second for the Growing LNG Export Market
September 16, 2014 Lehigh Valley, Pa.
Air Products (NYSE: APD), the global leader in liquefied natural gas (LNG) technology and equipment, announced today an agreement to provide two sets of its proprietary LNG technology, equipment, and process license for Freeport LNG’s liquefaction and export project. The sale includes two of Air Products’ main cryogenic coil wound heat exchangers and the associated equipment and technology which will be vital in the production of LNG at the facility. The trains are scheduled to be onstream in 2018.
“We are pleased to be supporting this project and play a significant role in what will be one of the first LNG export terminals in the U.S. Air Products’ LNG heat exchanger technology is operating right now at many locations around the world, however, these will be among the first of our exchangers to operate right here in the U.S. We look forward to continued involvement in the U.S. export market as other projects proceed to development,” said Jim Solomon, director - LNG at Air Products.
Air Products will supply its LNG proprietary AP-C3MR™ liquefaction technology and equipment, and its MCR® Main Cryogenic Heat Exchanger will be installed at the heart of the proprietary propane pre-cooled mixed refrigerant liquefaction process.
In addition to the Freeport, Texas site, Air Products is also providing the LNG technology and equipment for Dominion’s liquefaction project at its Cove Point LNG facility at Lusby, Maryland.
A majority of the total worldwide LNG is produced with Air Products’ technology. Air Products has now designed, manufactured, and exported more than 100 coil wound heat exchangers for LNG projects around the globe over the last four decades. In January 2014 Air Products dedicated a second U.S. LNG manufacturing facility in Port Manatee, Florida. The new facility, when combined with the existing Wilkes-Barre, Pennsylvania facility, doubles the company’s manufacturing capacity for its world-leading technology to both meet increasing customer demand and specifically for the manufacture of larger LNG heat exchangers.
Air Products’ LNG technology is vital in helping meet the world’s increasing energy needs and desire for clean energy and is operating in 15 countries around the globe, processing and cryogenically liquefying valuable natural gas for consumer and industrial use. Air Products’ LNG process technology and equipment is the heart of an LNG production plant. The technology, in place at some of the most remote locations around the world, takes natural gas and unlocks its value by liquefying it and making it possible to economically ship it around the world. The LNG is eventually re-gasified for energy use.
In support of the LNG industry, Air Products provides process technology and key equipment for the natural gas liquefaction process for large export plants, small and mid-sized LNG plants, floating LNG plants and LNG peak shavers. Upstream, Air Products provides both nitrogen and natural gas dehydration membrane systems for offshore platforms. Downstream, Air Products provides dry inert gas generators for LNG carriers, shipboard membrane nitrogen systems, and land-based membrane and cryogenic nitrogen systems for LNG import terminals and base-load LNG plants.
About Air Products
Air Products (NYSE:APD) provides atmospheric, process and specialty gases; performance materials; equipment; and technology. For over 70 years, the company has enabled customers to become more productive, energy efficient and sustainable. Recognized as one of the world’s most innovative companies by both Thomson Reuters and Forbes magazine, more than 21,000 employees in over 50 countries supply effective solutions to the energy, environment and emerging markets. These include semiconductor materials, refinery hydrogen, coal gasification, natural gas liquefaction, and advanced coatings and adhesives. In fiscal 2013, Air Products had sales of $10.2 billion. For more information, visit www.airproducts.com.
NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company’s Form 10K for its fiscal year ended September 30, 2013.