Air Products & Chemicals Inc. APD has agreed to supply its patented liquefied natural gas (“LNG”) technology, equipment, and process license for Freeport LNG Development, L.P.'s Train 3 gas liquefaction and export project. Moreover, Air Products will be providing its main cryogenic coil-wound heat exchangers and associated technology, which is a key requirement for the production of LNG at the facility near Freeport, TX.
Air Products’ technology and equipment for Train 3 are scheduled to go live in 2019. The company will be supplying its LNG patent AP-C3MR liquefaction technology and MCR Main Cryogenic Heat Exchanger for the project. Also, the Cryogenic Heat Exchanger will be installed at the center of the proprietary propane pre-cooled mixed refrigerant liquefaction process.
According to Jim Solomon, director – LNG at Air Products, there has been constant demand for the company’s LNG technology and equipment for a number of LNG projects due to the expanding U.S. LNG export market.
Air Products has also tested the APCI process on the Train 3, similar to its Trains 1 and 2 as the technology is cost-effective, efficient and dependable. Apart from supplying its patent LNG technology for the three trains, Air Products provides the LNG equipment and technology for Dominion's liquefaction project at Cove Point in Lusby, MD, and three production trains for the Cameron LNG Liquefaction Project, in Hackberry, LA.
As a global leader in LNG, Air Products has now designed, manufactured and exported more than 100 coil wound heat exchangers for LNG projects worldwide in the past 40 years. Currently Air Products has operations in 15 countries around the globe, processing and cryogenically liquefying valuable natural gas for consumer and industrial use. The company has helped meet the world’s crucial demand for clean energy.
Air Products currently carries a Zacks Rank #3 (Hold).
Better-ranked companies in the diversified chemical space include LyondellBasell Industries N.V. LYB, Trecora Resources TREC and Stepan Company SCL. All three stocks sport a Zacks Rank #1 (Strong Buy).
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