Air Products Wins Contract for Golden Pass LNG Export Project

Texas Project Will Be The 4th U.S. Export Facility Using Air Products' Proprietary LNG Technology

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Feb 18, 2019, 10:30 ET

LEHIGH VALLEY, Pa., Feb. 18, 2019 /PRNewswire/ -- Air Products (NYSE: APD), the world's leader in liquefied natural gas (LNG) technology and equipment, today announced an agreement to provide its proprietary LNG technology, equipment, and related process license to Golden Pass Products LLC, a joint venture between Qatar Petroleum and ExxonMobil for the Golden Pass LNG Export Project in Sabine Pass, Texas.

Air Products will supply its proprietary AP-C3MR™ natural gas liquefaction technology and equipment, and three of its MCR^® Main Cryogenic Heat Exchangers, to be installed at the heart of the proprietary propane pre-cooled mixed refrigerant liquefaction process for the three-train facility. Air Products' LNG technology, which will be integral in producing around 16 million tons per year of liquefied natural gas, is to be operational when the Golden Pass facility starts-up in 2024.

"Air Products is very honored to be selected for the Golden Pass project involving ExxonMobil and Qatar Petroleum. Our company has a long and successful history of serving the needs of the LNG industry and we intend to remain the leader in LNG equipment and liquefaction technology," said Dr. Samir Serhan, executive vice president at Air Products.

The use of LNG continues to increase around the world with strong energy demands in growing economies. LNG industry experts have commented that additional projects like the Golden Pass project are on the horizon, Dr. Serhan added.

"We have brought together an exceptional team to implement this project, with Air Products supplying the liquefaction technology and equipment that will drive our facility," Sean Ryan, president of Golden Pass LNG, said. "We are pleased to partner with the industry leader in LNG exchanger technology to bring clean energy from Texas to power the world."

Air Products LNG heat exchangers and related equipment for the Golden Pass project will be manufactured at its Port Manatee, Florida facility. Air Products opened its Port Manatee facility in January 2014. In October 2018, Air Products dedicated a new LNG equipment test facility (ETF) and a held a groundbreaking for a facility manufacturing expansion project at the site.

"We are committed to always providing the best-in-class equipment and technology to the LNG industry, to never missing a delivery, and to exceeding all customer expectations in terms of performance and efficiency. We want customers in the LNG market around the world to know that we are prepared and not limited in our manufacturing capability when new LNG plant opportunities are announced and developed," said Dr. Serhan.

About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 75 years. The company provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the world's leading supplier of liquefied natural gas process technology and equipment.

The Company had fiscal 2018 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $35 billion. Approximately 16,000 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 address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com.

Editor's Note:
Air Products' proprietary technology, 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 operated in 20 countries around the world.

Typically, an LNG heat exchanger can be as large as over 15 feet in diameter and 180 feet long, or about two-thirds of the size of a football field. A finished unit can weigh as much as 500 tons.

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. The LNG is eventually re-gasified for energy use.

A 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.

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, 2018.

SOURCE Air Products