2023-05-08 14:55:49 ET
Air Products and Chemicals ( NYSE: APD ) said Monday it signed a contract with Technip Energies ( OTCPK:THNPY ) ( OTCPK:THNPF ) to supply process technology and equipment for a liquefied natural gas project in China.
Air Products ( APD ) said its technology will be vital for the liquefaction train producing 800K tons/year of LNG at the Xi'An LNG Emergency Reserve & Peak Regulation Project when the plant becomes operational.
The company said this will be the largest liquefaction unit worldwide to date using a single electric motor-driven mixed refrigerant compressor, which will enable low-carbon LNG production to help meet the growing demand for clean energy; the LNG produced will be distributed to the Chinese market for use in residential and industrial applications.
Air Products ( APD ) said the Xi'An project is its fourth mid-sized liquefaction train placement in China, with the most recent being for the Yangling LNG project, which also usesthe company's AP-SMR LNG Process technology and coil wound heat exchanger.
Air Products ( APD ) is scheduled to announce Q2 earnings results tomorrow.
More on Air Products:
- See financial and valuation comparisons to sector peers
- SA analysis: Air Products And Chemicals Is A Great Deal Right Now
- Stock price return: Down 4% YTD, up 25% in the past 12 months
For further details see:
Air Products wins new contract for electric-driven LNG project in China