Industrial gas giant
Air Products & Chemicals Inc.
) announced that it has entered into a deal with Technip to
supply the latter with its proprietary liquefied natural gas
(LNG) process technology and equipment. Air Products' technology
will be provided for Technip's mid-scale LNG project in the
Yangling Demonstration Area, ShaanXi Province, China.
Air Products' liquefaction process will produce 500,000 tons per
year of LNG for ShaanXi LNG Investment Development Co. Ltd. Per
the deal, Air Products' single mixed refrigerant process
technology will be supplied for the LNG plant. The company will
also provide engineering, design and manufacturing of the heat
exchanger equipment for the liquefaction section of the plant.
The deal represents Air Products' third mid-size LNG liquefaction
train placement in China. The company has also been successful in
providing its proprietary LNG technology and equipment into the
Chinese LNG production market. The project is developed to serve
the domestic needs of the Chinese mid-scale LNG market and the
deal re-establishes Air Products' commitment to cater to all end
users across the gamut of the LNG market.
For over 70 years, Air Products has provided atmospheric,
process and specialty gases, performance materials, equipment and
technology to its customers. The company's products have enabled
customers to become more productive, energy efficient and
sustainable by supplying innovative solutions to the energy,
environment and emerging markets.
Air Products currently retains a Zacks Rank #3 (Hold).
Other companies in the chemical industry having favorable
Zacks Rank are
Cytec Industries Inc.
PPG Industries Inc.
Northern Technologies International Corp.
). All of them hold a Zacks Rank #2 (Buy).
AIR PRODS & CHE (APD): Free Stock Analysis
CYTEC INDS INC (CYT): Free Stock Analysis
NORTHERN TECH (NTIC): Free Stock Analysis
PPG INDS INC (PPG): Free Stock Analysis
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