APD - Air Products to build two new carbon monoxide plants in Texas

2023-05-08 18:28:14 ET

Air Products and Chemicals ( NYSE: APD ) said Monday it will build, own and operate two new carbon monoxide production plants in Texas, which will produce a combined 70M-plus scf/day of carbon monoxide and be connected to the company's existing Gulf Coast CO pipeline network; financial details were not disclosed.

At the new La Porte plant, Air Products ( APD ) plans to produce more than 30M scf/day of carbon monoxide, with the vast majority to be supplied to LyondellBasell ( LYB ); the new facility is expected to come onstream in 2024.

At the Texas City plant, the new unit will produce more than 40M scf/day of CO, with the vast majority to be supplied to Eastman Chemical ( EMN ); once onstream in 2026, the facility will be the world's largest single source of carbon monoxide production.

Air Products ( APD ) said the facility will be incorporated into its existing CO pipeline network with the addition of a new 35-mile connection to Texas City.

Air Products ( APD ) is scheduled to announce Q2 earnings results tomorrow.

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