Eighth Long-Term European Hydrogen Supply Agreement Follows Other Recent Achievements
LEHIGH VALLEY, Pa. (September 15, 2003) – Air Products and Chemicals, Inc. (NYSE:APD) announced today it has signed a long-term hydrogen supply agreement with Petroplus Refining Cressier SA to build, own and operate a seven million standard-cubic-feet-per-day (MMSCFD) hydrogen facility for Petroplus' Cressier, Switzerland 68,000 barrel-per-day refinery. Air Products' first Swiss hydrogen production facility, to be on-stream in late 2004, will provide the Cressier refinery with greater options in supply of feedstock and the ability to meet tight European gasoline specifications that will come into force in 2005.
"We are pleased to begin working with Petroplus and to enter the Swiss refining market," said Phil Sproger, general manager of Air Products' European Tonnage Gases Division. "We are already well represented in Europe with hydrogen production facilities addressing the high reliability needs of our customers. These facilities meet the capacity and feed options of our customers, and allow rapid implementation to help refiners meet global clean fuels requirements. Our capabilities have led to numerous long-term relationships within the European refining industry."
The supply arrangement is the 25th Air Products has undertaken with worldwide refiners. The Swiss steam reformer will be Air Products' eighth on-site hydrogen plant in Europe and follows a recent success with its Italian joint venture partner in winning a contract award in May 2003 for a 15 MMSCFD hydrogen production facility in Mantova, Italy. In 2002, Air Products placed on stream a 60 MMSCFD facility in Tarragona, Spain, and a smaller hydrogen facility in Llanwern in the United Kingdom.
The Swiss hydrogen facility is the 22nd to be built through an alliance between Air Products and Technip. This alliance continues to provide the worldwide refining industry with competitive technology, plus world-class safety and reliability with "over the fence" hydrogen supply. Both companies bring a long history of hydrogen experience to their role in the alliance. Technip provides the design and construction expertise for steam reformers. Air Products provides the gas separation technology and, through its operating network, brings operational and engineering knowledge to "design-in" high reliability and efficiency, and then operates and maintains the facilities for customers under long-term agreements.
About Petroplus International N.V.
Petroplus has operations in 20 countries with its corporate head office in the Netherlands, and regional head offices in Germany and Switzerland. Core activities of the Company are oil refining, marketing and logistics. Petroplus has 1000 employees, marketing volumes in excess of 20 million tonnes a year and storage capacity of 5 million m³ across Western Europe. The Company owns refineries in Cressier, Antwerp (Belgium) and at Teesside (UK) where it is one of the UK's largest producers of ultra-low sulfur [European version: sulphur] diesel (ULSD). Petroplus International N.V. has been listed on the Official Market of Euronext Amsterdam since 14 July 1998.
About Air Products
Air Products 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. The company is a leading global supplier of electronic materials, hydrogen, helium and select performance chemicals. Founded in 1940, Air Products is recognized for its innovative culture, operational excellence and commitment to safety and the environment. With annual revenues of $5.4 billion and operations in over 30 countries, the company's 17,200 employees build lasting relationships with their customers and communities based on understanding, integrity and passion. For more information, visit www.airproducts.com.
About Technip
With a workforce of about 19,000 persons, Technip ranks among the top five corporations in the field of oil, gas, and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and in Paris. The Group's main engineering and business centers are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the United States, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. The Group has high-quality industrial and construction facilities in France, Brazil, the UK, the USA, and Finland as well as a world-class fleet of offshore construction vessels. |
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