Agreement Will Provide a Standard and Modularized Offering for Growing Market
October 27, 2015 Lehigh Valley, Pa.
Air Products (NYSE: APD) and Kiewit Energy Company today jointly announced an agreement in which the two companies will work together to pursue smaller-sized LNG projects in North America. Specifically, the two companies will seek project opportunities for the production of up-to-500,000 gallons per day (GPD) of liquefied natural gas (LNG) using Air Products’ proprietary natural gas liquefaction technologies and equipment.
Air Products and Kiewit believe their cooperation will provide potential customers with a one stop shop and a rapid response to project opportunities. Customers will benefit from the strength of Air Products’ technology experience in the LNG industry combined with Kiewit’s expertise in construction and plant equipment offerings.
“Through this arrangement Air Products and Kiewit will offer a unified approach to customers in this market. As a team we will be able to provide lump sum turnkey offerings that will be very attractive to potential customers,” said Larry Balascak, LNG commercial manager at Air Products. “We are very pleased to be working closely with Kiewit and believe our collaboration will be well received by customers considering smaller LNG facilities.”
Prior to signing the current agreement, the two companies won an LNG project working together, for which Air Products will supply its LNG liquefaction and storage technology to Kiewit, who will be responsible for overall engineering and construction of the facility. The single production train will be capable of producing approximately 235,000 GPD of LNG for an LNG peakshaver facility in the United States. Air Products’ supplied LNG technology and equipment for that project is to be operational in 2017.
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.
Air Products & LNG
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.
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.
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.