Air Liquide Announces $850 million investment
“Air Liquide plans to invest up to 850 million dollars to build, own and operate four Large Modular Air separation units as well as related infrastructure in the framework of a long-term binding agreement with ExxonMobil for its planned low-carbon hydrogen project in Baytown, TX. This will enable Air Liquide to increase its oxygen production capacity by 50% in Texas. Pending final investment decision, this major project would mark the largest industrial investment in the history of the Air Liquide Group. This new Air Liquide Baytown low-carbon platform would serve primarily ExxonMobil with vast amounts of low-carbon oxygen and nitrogen, as well as significant volumes of argon and rare gases such as krypton and xenon for Air Liquide’s other customers. Thanks to low carbon electricity supply and Air Liquide’s innovative solution, the CO2 footprint of oxygen production will be reduced by two-thirds. In line with Air Liquide’s Advance strategic plan, this decarbonization project will also contribute to enhancing the Group’s Industrial Merchant footprint in the U.S.”
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#Downstream News Air Liquide $850mm Investments
Link: https://lnkd.in/gxXN7fW8
"Air Liquide plans to invest up to $850 million dollars to build, own and operate four Large Modular Air separation units as well as related infrastructure in the framework of a long-term binding agreement with ExxonMobil for its planned low-carbon #hydrogen project in Baytown, TX"
#asu#airseparation#oxygen
Air Liquide plans to invest up to 850 million dollars to build, own and operate four Large Modular Air separation units as well as related infrastructure in the framework of a long-term binding #agreement with ExxonMobil for its planned #lowcarbon#hydrogen project in Baytown, TX.
This will enable Air Liquide to increase its #oxygen#production capacity by 50% in Texas. Pending final investment decision, this major project would mark the largest industrial investment in the history of the Air Liquide Group. This new Air Liquide Baytown low-carbon platform would serve primarily ExxonMobil with vast amounts of low-carbon oxygen and nitrogen, as well as significant volumes of argon and rare gases such as krypton and xenon for Air Liquide’s other customers. Thanks to low carbon electricity supply and Air Liquide’s innovative solution, the CO2 footprint of oxygen production will be reduced by two-thirds.
In line with Air Liquide’s Advance strategic plan, this #decarbonization project will also contribute to enhancing the Group’s Industrial Merchant footprint in the U.S.
👉 https://ow.ly/LZUG50SosIm
Recently, our Chairman & CEO Lorenzo Simonelli, and our CFO Nancy K. Buese, announced our Q1’24 Earnings at Baker Hughes and I am proud of what we have achieved as a team. Not only are we driving growth, but we are also pioneering sustainable energy solutions that will shape the future of the industry. It's a time of transformation, and our team is at the forefront of energizing change across energy and industrial sectors.
Looking at our results, I'm struck by the impactful collaborations and partnerships we continue to see globally.
➡️ We demonstrated continued momentum in Brazil after receiving two significant, multi-year awards from Petrobras for on and offshore services.
➡️ We booked over $2.9B of orders across our Industrial & Energy Technology business segment, including large awards from aramco for the Master Gas System 3 and Black & Veatch for Cedar LNG.
➡️ We grew our Climate Technology Solutions business with three notable contract awards from Snam S.p.A., TotalEnergies, and one of the world’s largest ammonia and urea producers.
Our actions in 2024 will continue our purpose to take energy forward and lead sustainable energy development across industries through meaningful collaborations and innovation.
👉 Learn more about our results here: https://lnkd.in/gp-aEeMy#WeAreBakerHughes#BestPlaceToWork#Energy#NewEnergy#EnergyTrilemma#SustainableFuture#EnergizingChange
Recently, our Chairman & CEO Lorenzo Simonelli, and our CFO Nancy K. Buese, announced our Q1’24 Earnings at Baker Hughes and I could not be more proud of what we have achieved as a team. Not only are we driving growth, but we are also pioneering sustainable energy solutions that will shape the future of the industry. It's a time of transformation, and our team is at the forefront of energizing change across energy and industrial sectors.
Looking at our results, I'm struck by the impactful collaborations and partnerships we continue to see globally.
➡️ We demonstrated continued momentum in Brazil after receiving two significant, multi-year awards from Petrobras for on and offshore services.
➡️ We booked over $2.9B of orders across our Industrial & Energy Technology business segment, including large awards from aramco for the Master Gas System 3 and Black & Veatch for Cedar LNG.
➡️ We grew our Climate Technology Solutions business with three notable contract awards from Snam S.p.A., TotalEnergies, and one of the world’s largest ammonia and urea producers.
I am proud of our entire team and the ways we continue to deliver for our customers. Our actions in 2024 will continue our purpose to take energy forward and lead sustainable energy development across industries through meaningful collaborations and innovation.
👉 Learn more about our results here: https://lnkd.in/eP4yw5ND#WeAreBakerHughes#BestPlaceToWork#Energy#NewEnergy#EnergyTrilemma#SustainableFuture#EnergizingChange
CEO, AIMS LLC. (Premier Houston based Engineering: Co) favorite FEED contractor with Majors O&G for FLNG, FPSO, FSRU and CCUS project definition and PM execution. A trusted Eagle Scout.
🇺🇸 🚨 Honeywell to buy Air Products’ LNG business for $1.81 billion
A key chapter in the LNG industry ends, but a new and exciting journey is beginning. Thank you, Air Products, for everything!
Honeywell and Air Products jointly announced today that Honeywell has agreed to acquire Air Products' liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction. This represents approximately 13x estimated 2024 EBITDA.
Source ➡️ https://lnkd.in/grRypN6r#LNG#AirProducts#Honeywell#C3MR#Experion
The acquisition of Air Products’ LNG process technology and equipment business by Honeywell is indeed a strategic move with far-reaching implications for both companies. Here are some additional insights and considerations that further underscore the significance of this transaction:
1. Strategic Expansion for Honeywell
• Market Leadership: By acquiring Air Products’ LNG technology, Honeywell not only strengthens its portfolio but also positions itself as a market leader in the LNG sector. This move enhances its competitive edge in a rapidly growing market.
• Comprehensive Solutions: Honeywell can now offer a more comprehensive suite of solutions, from gas pre-treatment to liquefaction and digital automation, making it a one-stop shop for LNG project developers.
2. Enhanced Technological Offering
• Innovation Synergies: The integration of Air Products’ coil-wound heat exchangers (CWHEs) with Honeywell’s existing technologies can lead to innovative solutions that improve efficiency and reduce operational costs.
• Customer Value: Enhanced technological offerings can provide greater value to customers by ensuring more reliable and efficient LNG operations, which is crucial for meeting stringent environmental and economic requirements.
3. Immediate Financial Benefits
• Revenue Growth: The acquisition is expected to drive immediate revenue growth, contributing positively to Honeywell’s financial performance and shareholder value.
• Profit Margins: The high-margin nature of the LNG technology business can improve Honeywell’s overall profit margins, aligning with its strategy of pursuing high-return investments.
4. Focus on Digitalization and Aftermarket Services
• Digital Integration: Leveraging Honeywell Forge and Experion platforms will enable the integration of advanced digital solutions with LNG technology, offering predictive maintenance, real-time monitoring, and enhanced operational efficiency.
• Aftermarket Revenue: The focus on digital and aftermarket services can generate recurring revenue streams, providing long-term financial stability and customer engagement.
5. Air Products’ Strategic Shift
• Core Business Focus: By divesting its LNG technology business, Air Products can concentrate on its core competencies in industrial gases and clean hydrogen, areas where it has significant expertise and growth potential.
• Clean Hydrogen Leadership: The focus on clean hydrogen aligns with global decarbonization efforts and positions Air Products as a leader in this emerging market, which is critical for reducing carbon emissions in various industries.
6. Market Growth Potential
• Demand Drivers: The LNG market is driven by increasing demand for cleaner energy sources, particularly in power generation and data centers. Honeywell is well-positioned to meet this demand and capitalize on market growth.
🇺🇸 🚨 Honeywell to buy Air Products’ LNG business for $1.81 billion
A key chapter in the LNG industry ends, but a new and exciting journey is beginning. Thank you, Air Products, for everything!
Honeywell and Air Products jointly announced today that Honeywell has agreed to acquire Air Products' liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction. This represents approximately 13x estimated 2024 EBITDA.
Source ➡️ https://lnkd.in/grRypN6r#LNG#AirProducts#Honeywell#C3MR#Experion
USA CCS Update! ExxonMobil has secured offshore storage rights for its Carbon Capture and Storage (CCS) operations in the US Gulf of Mexico, covering over 1,097 km² across Jefferson, Chambers, and Galveston Counties in Texas.
ExxonMobil is securing all the necessary building blocks for operational CCS. The storage rights, and CO2 infrastructure stemming from the acquisition of Denbury in 2023, along with recent commercial agreements in Texas and Louisiana, are important steps in shaping ExxonMobil’s CCUS portfolio in this region.
Competition is on, as this area has become one of the most active CCUS hubs in the US, driven by the numerous announced projects from Majors and Large Independents, like Shell, bp, Chevron, TotalEnergies, Equinor, and Oxy.
Watch the “Our Energy” Brighter Futures video below for more insight into how ExxonMobil LNG creates brighter futures for people, businesses and communities everywhere.
➡️ 🛠 Stay ahead in the LNG industry with OgeeDev's Weekly LNG Insight newsletter
In our 7th issue, we’re providing an overview of the main headlines from the past week, covering the latest shifts in LNG markets, key project milestones, and significant shipping developments. Catch up on the recent SPA signed between TotalEnergies and Santos Ltd, Honeywell's acquisition of Air Products LNG business, Mozambique LNG, and other major LNG news.
📄 Read the full issue below for all the details.
💡 Want to learn more? Drop your thoughts in the comments or connect with us to discuss further.
#LNG#USLNG#TotalEnergies#Santos#AirProducts#Honeywell
