Linde to Increase Helium Supply in the U.S.
Linde (NYSE:LIN) announced a new long-term helium off-take agreement with Freeport LNG in Texas, aimed at recovering helium from its production site.
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Rhea-AI Summary
Linde (NYSE:LIN) announced a new long-term helium off-take agreement with Freeport LNG in Texas, aimed at recovering helium from its production site. The agreement includes the construction of a helium processing plant to purify and liquify the gas, contributing nearly 200 million cubic feet to Linde's supply portfolio by 2024. This helium will support various sectors including aerospace, electronics, and healthcare, meeting the increasing demand in both domestic and international markets. The project highlights Linde's commitment to enhancing the domestic supply of helium.
Positive
- Secures a long-term helium off-take agreement with Freeport LNG.
- Construction of a new helium processing plant to enhance supply.
- Expected to add nearly 200 million cubic feet of helium by 2024.
- Addresses growing demand across multiple sectors including healthcare and aerospace.
Negative
- None.
Details
News Market Reaction – LIN
The recorded move for LIN in the trading session of this news was +1.38%.
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WOKING, UK / ACCESSWIRE / April 25, 2022 / Linde (NYSE:LIN)(FWB:LIN) today announced it has signed a new long-term helium off-take agreement to recover the helium contained in Freeport LNG's production site in Texas. Linde will also construct a new helium processing plant in Freeport to purify and liquify the recovered helium, securing an additional source of liquid helium in the U.S.
The helium will be supplied to Linde's customers across various end markets including aerospace, electronics, healthcare and manufacturing, which continue to demonstrate strong demand both in the U.S. and abroad. The project is on track to start up in 2024 and provide nearly 200 million cubic feet of helium into Linde's supply portfolio.
"Through a unique application of Linde's proven technology, we are able to efficiently capture helium from Freeport's LNG plant," said Odessa Mann, General Manager Helium & Rare Gas, Linde. "Working with Freeport, Linde will be securing a new helium source in the U.S. to help meet growing demand."
"By working with Linde, we have the opportunity to complement our LNG operations and strengthen the domestic supply of helium," said Aaron Neus, Senior Vice President, Chief Marketing and Strategy Officer, Freeport LNG.
About Linde
Linde is a leading global industrial gases and engineering company with 2021 sales of
The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
For more information about the company and its products and services, please visit www.linde.com
Contacts:
Investor Relations
Juan Pelaez
Phone: +1 203 837 2213
Email: juan.pelaez@linde.com
Media Relations
Anna Davies
Phone: +44 1483 244705
Email: anna.davies@linde.com
SOURCE: Linde plc
View source version on accesswire.com:
https://www.accesswire.com/698609/Linde-to-Increase-Helium-Supply-in-the-US
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