Air Products Announces Two New World-Scale Carbon Monoxide (CO) Projects to Expand the World's Largest CO Pipeline Network in the U.S. Gulf Coast
- Air Products will build two new CO production facilities in Texas, adding over 70 MMSCFD of CO capacity. The facilities will enhance supply reliability and provide additional growth opportunities for the company. The new facilities will be connected to Air Products' existing CO pipeline network, the largest in the world. The company secures long-term CO supply contracts with LyondellBasell and Eastman Chemical Company, which will benefit from the additional CO supply from the new facilities.
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- Texas Projects will Help Supply Two Signed, Long-Term CO Agreements.
- Projects will Add Over 70 Million Standard Cubic Feet Per Day (MMSCFD) of CO capacity.
- Both Plants will be Connected to Air Products World's Largest CO Pipeline Network.
Air Products is also announcing new long-term CO supply contracts with LyondellBasell (NYSE: LYB) and Eastman Chemical Company (NYSE: EMN). Both customers will be connected to and draw significant additional product via these new facilities from Air Products' expanding CO pipeline network and will benefit from the additional CO supply reliability from the new
"We are pleased to announce these new and innovative projects. The new assets and agreements greatly expand Air Products' already strong leadership CO position in the Gulf Coast. These strategic investments will provide additional growth and enhanced supply reliability to our business and for our valued customers. We will continue to seek ways to continually enhance the robustness of our value-added and leading pipeline network," said Dr. Samir J. Serhan, Air Products' Chief Operating Officer.
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LyondellBasell will realize Scope 1 emissions reductions as part of this CO project.
LyondellBasell and Air Products are also working collaboratively on a carbon dioxide recovery project. Together these projects will support progress LyondellBasell is making towards its sustainability goals as stated in its 2022 Sustainability Report.
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As part of Air Products' continuous improvement efforts in customer reliability, the facility will be incorporated into the company's existing CO pipeline network with the addition of a new 35-mile connection to
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
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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