Order Comes Within a Year After PETRONAS Chose Air Products' Technology for another LNG Project
LEHIGH VALLEY, Pa., April 16, 2013 /PRNewswire/ -- Air Products (NYSE: APD), the global leader in liquefied natural gas (LNG) technology and equipment, today announced it has received an LNG heat exchanger order from PETRONAS for a major LNG project in Malaysia.
Air Products' SplitMR® liquefaction process and technology was selected and will be supplied to the PETRONAS LNG Train 9 Project. This project will produce 3.6 million tons of LNG per year and is an expansion of the existing PETRONAS LNG Complex in Bintulu, Sarawak, Malaysia.
For 20 years Air Products has supplied multiple LNG trains, technology and equipment to the land-based PETRONAS Bintulu facility, with the first train becoming operational in 1983. Overall, Air Products' LNG technology and equipment is currently employed in the facility's eight existing production trains designed to produce 25.7 million tons per year (MTPY) of LNG. Production of LNG will increase to 29.3 MTPY via the additional ninth train with Air Products involvement at the Bintulu facility, targeted as ready-for-start-up by end 2015.
Today's LNG heat exchanger announcement is the second within a year, and follows Air Products' July 2012 news of an order for its AP-N™ LNG process for PETRONAS' Floating LNG Project 1 (PFLNG 1). PFLNG 1 is a floating LNG production platform which will operate 180 kilometers off the coast of Malaysia. It will produce 1.2 million tons per year of LNG when it comes on stream in late 2015. The AP-N™ LNG process is the most efficient of all nitrogen recycle LNG processes in the industry, and is ideally suited for FLNG applications.
When the new projects are onstream at the two PETRONAS-operated locations, Air Products' technology and equipment will be integral to the production of an additional 4.8 MTPY of LNG in Malaysia.
"Air Products relationship with PETRONAS continues to grow with this large scale equipment order. We believe this new order is a result of the proven performance of our technology and our decades of working with PETRONAS," said Jim Solomon, director -- LNG with Air Products. "In LNG industry development around the globe, PETRONAS is a major player, and we take pride in providing our leading technology to assist in their success with these major projects."
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. 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 http://www.airproducts.com/.
About PETRONAS
Petroliam Nasional Berhad, or PETRONAS, which is wholly owned by the government of Malaysia, is an integrated oil and gas company with a significant global presence. A Fortune Global 500 company, its business activities include harnessing natural gas reserves locally and abroad. The company is among the world's largest integrated LNG players with strategic interests in LNG production and related facilities in Malaysia and overseas. For more information, visit http://www.petronas.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.
