Agreement is Company’s Third for the Growing U.S. LNG Export Market
January 28, 2015 Lehigh Valley, Pa.
Air Products (NYSE: APD), the global leader in liquefied natural gas (LNG) technology and equipment, has signed an agreement increasing its already active and integral role in the growing U.S. LNG export market. Air Products will be providing its proprietary LNG technology, equipment, and related process license for three production trains for the Cameron LNG Liquefaction Project, located in Hackberry, Louisiana. The Department of Energy has approved the Cameron LNG facility for LNG export up to 12 million tons per year. Air Products’ sale includes three main cryogenic coil wound heat exchangers and the associated equipment and technology.
“The export market for LNG in the United States (U.S.) is new and developing, and we have been successful in winning the business for several of the most recently announced projects. We are pleased to support Cameron LNG at the Louisiana location, and after decades of our technology operating at many locations around the world, we look forward to seeing our technology operating here in the U.S.,” said Jim Solomon, director - LNG at Air Products.
“Cameron LNG, as one of the first new liquefied gas export terminals in North America, is currently under construction. Air Products is an essential part of Cameron LNG’s efficient solution to delivering safe and reliable LNG to our customers,” said Farhad Ahrabi, Chief Executive Officer of Cameron LNG LLC. Cameron LNG is jointly owned by Sempra, GDF SUEZ, Mitsui, and Japan LNG Investment, LLC (a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabashiki Kaisha (NYK)).
Air Products will supply its LNG proprietary C3MRTM liquefaction technology and equipment, and its MCR® Main Cryogenic Heat Exchangers will be installed at the heart of the proprietary propane pre-cooled mixed refrigerant liquefaction process.
In addition to Cameron LNG in Louisiana, Air Products is also providing its LNG technology and equipment for Freeport LNG's liquefaction and export project in Freeport, Texas, and Dominion’s liquefaction project at its Cove Point LNG facility in Lusby, Maryland. “There is an element of pride involved in playing a significant role in what will be one of the first LNG export terminals in the U.S. At the same time, we look forward to continued market involvement in the U.S. as other projects proceed to development,” said Solomon.
A majority of the total worldwide LNG is produced with Air Products’ technology. Air Products has 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) is a leading industrial gases company. For nearly 75 years, the company has provided atmospheric, process and specialty gases, and related equipment to manufacturing markets including metals, food and beverage, refining and petrochemical, and natural gas liquefaction. Air Products’ materials technologies segment serves the semiconductor, polyurethanes, cleaning and coatings, and adhesives industries. Over 20,000 employees in 50 countries are working to make Air Products the world’s safest and best performing industrial gases company, providing sustainable offerings and excellent service to all customers. In fiscal 2014, Air Products had sales of $10.4 billion and was ranked number 276 on the Fortune 500 annual list of public companies. 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, 2014.