Air Products to Work with Technip on Inner Mongolia LNG Project

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Oct 27, 2014, 10:30 ET

LEHIGH VALLEY, Pa., Oct. 27, 2014 /PRNewswire/ -- Air Products (NYSE: APD), the global 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 for a mid-scale LNG project in Fengzhen City, Inner Mongolia Province, China. Air Products' technology at that location will be key to a liquefaction train producing approximately 300,000 tons per year of LNG for Fengzhen Wanjie Gas Co. Ltd. The LNG facility is targeting onstream production for the second half of 2016.

"With this project, we continue to strengthen our position in the competitive mid-scale LNG market. Having won several projects of this size, and as a key technology supplier to Technip, we are happy to be providing our state of the art technology and liquefaction expertise for this location. We expect additional projects of this kind as the demand to make available the natural gas from more mid-size undeveloped gas reserves continues to increase," said Warren Miller, business manager - LNG at Air Products. Miller added that as Air Products continues to demonstrate its ability to serve all sizes and spectrums of the LNG market, this project in Inner Mongolia will benefit significantly from the company's proven LNG project experience around the globe.

Under the agreement Air Products' single mixed refrigerant process technology, as well as the engineering, design and manufacturing of the heat exchanger equipment for the liquefaction section, will be supplied for the LNG plant. The liquefaction process at this site will use Air Products' proprietary coil wound main cryogenic heat exchanger technology. The LNG produced will be distributed to the Chinese market to help meet the growing demand for clean energy.

A majority of the total worldwide LNG is produced with Air Products' technology. Air Products has now 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, mid-scale and small LNG plants, floating LNG plants, as well as 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) provides atmospheric, process and specialty gases; performance materials; equipment; and technology. For over 70 years, the company has enabled customers to become more productive, energy efficient and sustainable. Recognized as one of the world's most innovative companies by both Thomson Reuters and Forbes magazine, more than 21,000 employees in over 50 countries supply effective solutions to the energy, environment and emerging markets. These include semiconductor materials, refinery hydrogen, natural gas liquefaction, and advanced coatings and adhesives. In fiscal 2013, Air Products had sales of $10.2 billion. For more information, visit www.airproducts.com.

About Technip
Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 40,000 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges. Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.

Technip shares are listed on the NYSE Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).

For more information, visit www.technip.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, 2013.

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SOURCE Air Products