Air Products Wins LNG Technology and Equipment Order for Maryland Facility
Cove Point to be Site of Air Products' First-Ever Major LNG Heat Exchanger to
Operate in the U.S.
LEHIGH VALLEY, Pa., April 29, 2013
LEHIGH VALLEY, Pa., April 29, 2013 /PRNewswire/ -- Air Products (NYSE: APD),
which has shipped 100 liquefied natural gas (LNG) heat exchangers to some of
the most remote natural gas fields around the world, today announced that one
of its future orders will have a much shorter travel time to its destination.
Air Products, the global leader in LNG technology and equipment, has received
its first-ever major LNG heat exchanger order for a liquefaction project based
in the United States.
Air Products will supply its LNG proprietary C3MR^TM liquefaction technology
and equipment to a joint venture of IHI E&C International Corporation and
Kiewit Corporation, for Dominion's (NYSE: D) major liquefaction project to be
constructed at the site of Dominion's existing Cove Point LNG import facility
at Lusby, Md. Air Products' MCR^® Main Cryogenic Heat Exchanger will be
installed at the heart of the proprietary propane pre-cooled mixed refrigerant
liquefaction process. The Dominion Cove Point liquefaction process will be
designed to produce 5.25 million tons per year of LNG and is to be operational
"We have provided our LNG technology and equipment to baseload LNG projects
around the world, but this will be our first large-scale order to be placed
and operating in the U.S. Cove Point will be a major liquefaction facility
and we are pleased that our industry leading expertise has been selected for
this project. We look forward to further involvement in the U.S. export market
as future projects develop," said David J. Taylor, vice president – Energy
Businesses at Air Products.
Air Products has been involved in previous activities at Cove Point. In the
late 1970's the company played a major role in the dry-out and initial
cooldown of piping and equipment at the Cove Point facility. In 1994, Air
Products supplied a small LNG re-liquefier. Air Products also played a role
in the re-commissioning of the LNG plant in 2003. Over the years, Air Products
has also supplied three nitrogen generators, related equipment, and other
services for LNG handling at Cove Point.
A majority of total worldwide LNG is produced with Air Products' technology.
Air Products has now designed, manufactured and exported 100 coil wound heat
exchangers for LNG projects around the globe over the last four decades. To
address forecasted growth in the LNG industry, Air Products is currently
constructing a new manufacturing facility at Port Manatee, Manatee County,
Fla. The new manufacturing facility will serve to double the company's present
capacity at its Wilkes-Barre, Pa. facility. The deepwater Port Manatee site
will enable Air Products to manufacture even larger heat exchangers to enhance
economy of scale as demanded by the LNG industry. The facility will be
operational by the end of 2013. Air Products will continue operations at its
original Wilkes-Barre, Pa. LNG heat exchanger manufacturing facility.
In support of the LNG industry, Air Products provides process technology and
key equipment for the heart of 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 dry inert gas generators for LNG carriers, shipboard membrane
nitrogen systems, and land-based membrane and cryogenic nitrogen systems for
LNG import terminals and base-load LNG plants.
About Air Products
Air Products (NYSE: APD) provides atmospheric, process and specialty gases;
performance materials; equipment; and technology. For over 70 years, the
company has enabled customers to become more productive, energy efficient and
sustainable. More than 20,000 employees in over 50 countries supply innovative
solutions to the energy, environment and emerging markets. These include
semiconductor materials, refinery hydrogen, coal gasification, natural gas
liquefaction, and advanced coatings and adhesives. In fiscal 2012, Air
Products had sales approaching $10 billion. For more information, visit
Dominion is one of the nation's largest producers and transporters of energy,
with a portfolio of approximately 27,500 megawatts of generation, 11,000 miles
of natural gas transmission, gathering and storage pipeline, and 6,300 miles
of electric transmission lines. Dominion operates one of the nation's largest
natural gas storage systems with 947 billion cubic feet of storage capacity
and serves retail energy customers in 15 states. For more information about
Dominion, visit the company's website at www.dom.com.
NOTE: This release may contain 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 reasonable
expectations and assumptions as of the date of this release regarding
important risk factors. Actual performance and financial results may differ
materially from projections and estimates expressed in the forward-looking
statements because of many factors not anticipated by management, including
risk factors described in the Company's Form 10K for its fiscal year ended
September 30, 2012.
SOURCE Air Products
Contact: Media Inquiries: Art George of Air Products, +1-610-481-1340,
firstname.lastname@example.org, or Dan Donovan of Dominion, +1-412-237-2900, cell
+1-412-951-1080, Daniel.email@example.com; or Investor Inquiries: Simon Moore
of Air Products, +1-610-481-7461, firstname.lastname@example.org, or Nathan Frost of
Dominion, +1-804-819-2187, Nathan.email@example.com
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