This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Air Products' LNG Expertise Selected For PETRONAS LNG Train 9 Project In Malaysia

Stocks in this article: APD

LEHIGH VALLEY, Pa, April 15, 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 per year (MTPY) of LNG 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 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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs