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The absolute price and limited supply of traditional energy sources continue
to create growth opportunities for our Tonnage Gases, Equipment and Energy business.
 As the world’s leading supplier of onpurpose hydrogen, we enable refineries to process clean transportation fuels and meet environmental regulations. We expect annual growth of 10% to 15% over the next decade, as refiners require more hydrogen to process heavier, higher-sulfur crude slates, and as they retire older steam methane reforming assets in favor of new production. We’ve grown our global hydrogen franchise capacity by more than 45% over the last two years, and there are a significant number of new opportunities ahead.
In the face of rising oil, natural gas and electricity costs, gasification has become an
increasingly attractive option for providing affordable, clean energy. For example, we are one of the few companies in the world
capable of supplying the extremely large volumes of oxygen used to gasify petroleum coke—a by-product of heavier, more
sour crude processing. The use of pure, high-pressure oxygen produces syngas, which can in turn be used to produce pure
hydrogen or other chemical products such as methanol and ammonia. This technology also produces a purer carbon dioxide
stream that can be sequestered or used for potential enhanced oil recovery projects—all while eliminating traditional NOx emissions. In addition to solutions for new-build solidfuel power plants, the large installed base of existing solid-fuel plants can be retrofitted with our oxy-fuel combustion technology, enabling the promise of “greenhouse gas friendly” coal-fired power generation.
Liquefied natural gas (LNG) is also an increasingly viable energy alternative, and dozens of LNG receiving terminals are in various aspects of regulatory and permitting approval around the globe. We’ve built a leading market position supplying patented process technology and heat exchanger equipment, with our newest AP-X® exchangers capable of achieving 50% more production from a single liquefaction plant. Meanwhile, we are supplying large quantities of nitrogen for projects that require the Btu value of imported LNG to be lowered prior to use. And we are involved in projects where we are recovering cold from LNG receiving terminals and using it to liquefy air into oxygen and nitrogen.
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> Merchant Gases
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