LEHIGH VALLEY, Pa., Aug. 2, 2023 /PRNewswire/ -- Air Products (NYSE: APD), the world's leader in liquefied natural gas (LNG) technology and equipment, today announced it has signed agreements with Bechtel Energy Inc. to supply its proprietary LNG process technology and equipment to NextDecade's Rio Grande LNG Phase 1 Project in the Port of Brownsville, Texas. The project will include three natural gas liquefaction trains employing Air Products' liquefaction equipment with a production capability of approximately 17.6 million tonnes per annum (MTPA) of LNG.
Air Products' coil-wound heat exchangers (CWHEs) and AP-C3MR™ LNG Process technology have been selected for their proven reliability for large-scale LNG production. The CWHEs will be manufactured at Air Products' world-class LNG equipment manufacturing facility in Port Manatee, Florida.
"We are pleased to be selected to provide our LNG technology and equipment for the Rio Grande LNG project with its focus on sustainability. Air Products' LNG processes and equipment provide for low emissions and carbon intensity with the AP-C3MR LNG Process being the industry standard and used to produce more LNG than any other process in the world. Additionally, this project enables us to further support the growing North American LNG market," said Dr. Samir J. Serhan, Air Products' Chief Operating Officer.
"We're proud to partner with Air Products, who like Bechtel bring a proven track record of excellence to the Rio Grande LNG project," said Paul Marsden, President of Bechtel Energy. "Using Air Products' state-of-the-art liquefaction technology, we look forward to delivering an exactingly engineered, world-class plant that will enable NextDecade to produce lower carbon-intensive LNG, contributing to energy security and supporting the energy transition."
Air Products' LNG equipment manufacturing facility opened in January 2014 and completed a 60% expansion in October 2019 to meet the needs of the ever-growing LNG industry. In October 2018, a new LNG equipment test facility (ETF) was dedicated, which enables Air Products to continually improve the reliability and yield produced from its LNG equipment, and to design new equipment.
Air Products' proprietary LNG process technology and equipment, 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, which currently operate in over 100 LNG trains in 20 countries around the world.
Typically, an LNG heat exchanger can be as large as over 15 feet (5 meters) in diameter and 180 feet (55 meters) long. A finished unit can weigh as much as 500 tons. Photos of Air Products' LNG technology can be downloaded for publication with proper attribution at http://prphotolibrary.airproducts.com/ImageViewer.aspx?q=LNG.
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 ship it economically. Typically, the LNG is eventually re-gasified for energy uses.
The 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.
For more information on Air Products' LNG process technology and equipment, visit https://www.airproducts.com/lng.
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 $12.7 billion from operations in over 50 countries and has a current market capitalization of over $65 billion. More than 21,000 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 reimagine what's possible to address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.
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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