Air Products to Supply AP

May 02, 2023

Process and Equipment Selected for Low-Carbon LNG Production

LEHIGH VALLEY, Pa., May 8, 2023 /PRNewswire/ -- Air Products (NYSE: APD), the world's leader in liquefied natural gas (LNG) technology and equipment, today announced it has signed an agreement to supply its proprietary liquefied natural gas (LNG) process technology and equipment to Technip Energies for the Xi'An LNG Emergency Reserve & Peak Regulation Project with Shaanxi LNG Reserves & Logistics Company Ltd, in ShaanXi Province, China. Air Products' technology will be vital for the liquefaction train producing 800,000 tons per year of LNG when the plant becomes operational.

Under the agreement, Air Products will supply AP-SMR™ LNG Process technology, with proven performance for mid-scale LNG production, as well as the engineering, design and manufacturing of the coil wound main cryogenic heat exchanger for the liquefaction section of the plant. Air Products will also provide technical advisory services for the installation and commissioning, and performance testing when operational.

This will be the largest liquefaction unit worldwide to date using a single electric motor-driven mixed refrigerant compressor, which will enable low-carbon LNG production to help meet the growing demand for clean energy. The LNG produced will be distributed to the Chinese market for use in residential and industrial applications.

"Air Products is honored to be selected for this project and again work with Technip Energies to provide our unrivaled liquefaction process technology and equipment to the dynamic Chinese mid-scale LNG market. This project demonstrates how we are helping customers to optimize their facility's overall performance with safe, sustainable solutions to achieve both production and environmental goals," said Dr. Samir J. Serhan, Air Products' Chief Operating Officer.

The Xi'An LNG Emergency Reserve & Peak Regulation Project is Air Products' fourth mid-sized liquefaction train placement in China, with the most recent being for the Yangling LNG project, which also uses Air Products' AP-SMR LNG Process technology and coil wound heat exchanger.

The LNG equipment will be built at Air Products' world-class Port Manatee, Florida facility, which opened in January 2014, and completed a 60% expansion in October 2019 to meet the needs of the ever-growing LNG industry. In October 2018, a new LNG equipment test facility (ETF) was dedicated, which enables Air Products to continually improve the reliability and yield produced from its LNG equipment and to design new equipment.

Air Products' proprietary LNG process technology and equipment, vital to helping meet the world's increasing energy needs and desire for clean energy, processes and cryogenically liquefies valuable natural gas for consumer and industrial use. For over 50 years Air Products has manufactured LNG heat exchangers, which currently operate in over 100 LNG trains in 20 countries around the world.

Typically, an LNG heat exchanger can be as large as over 15 feet (5 meters) in diameter and 180 feet (55 meters) long. A finished unit can weigh as much as 500 tons. Photos of Air Products' LNG technology can be downloaded for publication with proper attribution at http://prphotolibrary.airproducts.com/ImageViewer.aspx?q=LNG.

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 ship it economically. The LNG is eventually re-gasified for energy uses.

The majority of total worldwide LNG is produced with Air Products' technology. 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 membrane nitrogen generators for LNG carriers and land-based membrane and cryogenic nitrogen systems for LNG import terminals and baseload LNG plants.

About Air Products

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 80 years focused on serving energy, environmental, and emerging markets. The Company has two growth pillars driven by sustainability. Air Products' base business provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, and food. The Company also develops, engineers, builds, owns and operates some of the world's largest industrial gas and carbon-capture projects, supplying world-scale clean hydrogen for global transportation, industrial markets, and the broader energy transition. Additionally, Air Products is the world leader in the supply of liquefied natural gas process technology and equipment, and globally provides turbomachinery, membrane systems and cryogenic containers.

The Company had fiscal 2022 sales of $12.7 billion from operations in over 50 countries and has a current market capitalization of over $65 billion. More than 21,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.

Air Products Cautionary Note Regarding Forward-Looking Statements

This release contains "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 expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

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SOURCE Air Products

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