Air Products' Technology a Perfect Fit for Massive Russian Arctic LNG Project
Contract Win Places Company's Leading Technology and Equipment in Russia for
LEHIGH VALLEY, Pa., Jan. 23, 2014
LEHIGH VALLEY, Pa., Jan. 23, 2014 /PRNewswire/ -- Air Products (NYSE: APD),
the global leader in liquefied natural gas (LNG) technology and equipment,
today announced it has signed an agreement with a consortium including Technip
and JGC Corporation to implement the Yamal LNG Project. The LNG plant under
construction on the Yamal Peninsula will mark the first time Air Products
deploys its proprietary LNG technology and equipment in Russia. The plant
will be Russia's largest LNG production and export facility.
Air Products will supply three MCR^® Main Cryogenic Heat Exchangers to be
installed at the heart of the propane pre-cooled mixed refrigerant
liquefaction process. Each of these units using Air Products' proprietary
AP-C3MR™ LNG process technology and equipment will produce 5.5 million tonnes
per annum (mtpa) of LNG, for the overall 16.5 mtpa three-train facility.
"This is the largest project ever of its kind to be located in the Arctic, and
the most northern LNG facility in the world. There are some specific
challenges with it, beyond the very remote location, such as huge temperature
swings. Our equipment and process were specifically configured to address
these challenges, and we are very excited at the prospect of playing a
significant role in this landmark project," said Jim Solomon, director - LNG
at Air Products. Solomon added with the addition of Russia, that Air Products'
proprietary LNG technology will be operating in 17 countries around the globe.
"After a technology assessment, Yamal LNG has selected Air Products based on
their worldwide experience in natural gas liquefaction. We are confident Air
Products' MCR process is the most suitable technology available within the
parameters of the project, and we are looking forward to fruitful cooperation
with Air Products and a successful start-up of the process trains according to
the schedule," stated Igor Chasnyk, deputy project director for
Pre-Operations, Yamal LNG.
LNG from the Yamal LNG Project will be used primarily to meet the growing
energy needs of Asia and Pacific Region countries.
A majority of the total worldwide LNG is produced with Air Products'
technology. Air Products has now designed, manufactured, and exported more
than 100 coil wound heat exchangers for LNG projects around the globe over the
last four decades. 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. Recognized as one of the world's most innovative companies by
both Thomson Reuters and Forbes magazine, more than 21,000 employees in over
50 countries supply effective 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 2013, Air Products had sales of $10.2 billion. For more
information, visit www.airproducts.com.
About Yamal LNG
Yamal LNG is a joint venture currently owned by OAO NOVATEK (80%) and Total
S.A. (20%). The project shareholders are ОАО NOVATEK (80%) and TOTAL (20%).
ОАО NOVATEK and CNPC made an agreement, according to which CNPC will buy a 20%
share in the Yamal LNG Project. The share ownership will be transferred after
obtaining official authorization from the regulatory state agencies. According
to the PRMS reserve standards, the proven and probable reserves of the
South-Tambey field as of December, 31 2012 were appraised at 907 billion cubic
meters of natural gas. The project also requires the construction of
transport infrastructure including a sea port and an airport located at
Sabetta (north-east of the Yamal Peninsula).
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, 2013.
SOURCE Air Products
Contact: Media Inquiries: Air Products - U.S., Art George, (610) 481-1340,
firstname.lastname@example.org, or Central/Eastern Europe, Dorota Grzegorczyk,
+48-22-440-32-12, email@example.com; Investor Inquiries: Air Products,
Simon Moore, (610) 481-7461, firstname.lastname@example.org
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