Air Products' LNG Expertise Selected for Second Malaysia PETRONAS FLNG Project

Air Products' LNG Expertise Selected for Second Malaysia PETRONAS FLNG Project

Third Overall Global Off-Shore LNG Project to Contract with Air Products

PR Newswire

LEHIGH VALLEY, Pa., April 29, 2014

LEHIGH VALLEY, Pa., April 29, 2014 /PRNewswire/ -- Air Products (NYSE: APD),
the global leader in liquefied natural gas (LNG) technology and equipment,
announced today the signing of an agreement with JGC Corporation to provide
its proprietary LNG technology, equipment and process license for PETRONAS'
second floating LNG project (PFLNG 2) to be located off the coast of Malaysia.

Air Products' equipment and technology will be vital in the production of 1.5
million tons per year of LNG, targeted for onstream in 2018, for project owner
Petroliam Nasional Berhad (PETRONAS), the national oil and gas company of
Malaysia. Air Products' LNG technology has been selected for all three
off-shore FLNG projects announced and in construction around the world to
date.

"In our LNG history as a company we have always tried to stay ahead of trends
in the market and we are pleased that we have been selected for PETRONAS'
second FLNG project, as well as the other two global off-shore LNG projects
thus far that have been announced. The PFLNG 2 project, much like PETRONAS'
first floating LNG (PFLNG 1) project, is an important one in the effort to
monetize significant off-shore natural gas reserves that would otherwise be
unreachable. We are pleased our technology was again selected as the solution
to this effort," said Bill Kennington, major account manager - LNG with Air
Products.

"In a project of this complexity, I trust that we have the best expertise from
around the world to think of innovative solutions and game changing ideas to
harness the best of engineering, design, and manufacturing equipment to ensure
safety, quality, as well as a technically and commercially viable project,"
said Datuk Abdullah Karim, vice president and venture director of LNG Projects
- Domestic, PETRONAS.

PFLNG 2, which will be drawing natural gas from the Rotan Field in the South
China Sea, offshore Sabah, Malaysia, will use Air Products' AP-N^TM LNG
Process and Equipment. Air Products will manufacture this proprietary
equipment including coil wound heat exchangers and compressor-expanders at
facilities in the United States, and the economizer cold boxes in Tanjung
Langsat, Malaysia. The proprietary equipment will be shipped from the Air
Products manufacturing facilities for assembly into modules and then installed
on the PFLNG 2 vessel.

The AP-N™ LNG process is the most efficient of all nitrogen recycle LNG
processes in the industry, and is ideally suited for small scale FLNG
applications. It is the same technology that was selected for the earlier
announced PETRONAS PFLNG 1 Project, which is currently under construction in
South Korea. The use of the AP-N™ LNG Process and Equipment for FLNG builds on
the successful implementation of the nitrogen recycle section of Air Products'
AP-X^® LNG Process and Equipment, which have been operating reliably for
nearly five years in Qatar. The AP-N™ LNG Process and Equipment can be
configured in an all-nitrogen recycle process for a single train at a nominal
1.5 million tons per annum, or it can be boosted in capacity with the addition
of pre-cooling.

Air Products has a long relationship with PETRONAS. Beyond the PFLNG 1
project, Air Products has also supplied LNG technology and equipment to
PETRONAS' land-based Bintulu, Malaysia LNG facility for multiple LNG trains,
with the first train becoming operational in 1983. "With two FLNG projects
underway, PETRONAS is showing itself to be a leader in what is a
state-of-the-art method for off-shore natural gas liquefaction. We have an
existing working relationship with PETRONAS dating back over three decades and
are pleased to be continually building our ties with PETRONAS in support of
these very exciting projects and market developments," said Jim Solomon,
director – LNG with Air Products.

In addition to the two PETRONAS FLNG projects, Air Products' coil wound heat
exchangers were selected for Shell's Prelude floating LNG project under
construction and slated for the Browse Basin off the northwest coast of
Western Australia.

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 January 2014 Air Products dedicated a second United
States LNG manufacturing facility in Port Manatee, Florida. The new facility,
when combined with the existing Wilkes-Barre, Pennsylvania LNG manufacturing
facility, doubles the company's manufacturing capacity for its proprietary and
world-leading technology to both meet increasing customer demand, and
specifically for the manufacture of larger LNG heat exchangers.

Air Products' LNG technology is vital in helping meet the world's increasing
energy needs and desire for clean energy and is operating in 15 countries
around the globe, processing and cryogenically liquefying valuable natural gas
for consumer and industrial use. 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 that is
essentially a stranded valuable resource and unlocks it by liquefying it and
making it possible to economically ship it around the world. The LNG is
eventually re-gasified for energy use.

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 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.

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

Website: http://www.airproducts.com
Contact: Media Inquiries: (Asia) Jessica Cheng, tel: (852) 2863-0585; e-mail:
chengjs@airproducts.com, (U.S.) Art George, tel: (610) 481-1340; e-mail:
georgeaf@airproducts.com, Investor Inquiries: Simon Moore, tel: (610)
481-7461; e-mail: mooresr@airproducts.com
 
Press spacebar to pause and continue. Press esc to stop.