LEHIGH VALLEY, Pa., Oct. 28, 2015 /PRNewswire/ -- Air Products (NYSE: APD) today announced two big helium market wins that demonstrate the company's industry leadership. Air Products will supply to RasGas Company Ltd (RasGas), the helium licensor package equipment for the new Helium 3 plant to be located at the Barzan facility in Ras Laffan Industrial City, Qatar. Additionally, Air Products won the award for the long-term helium supply from the Helium 3 plant which is expected to produce up to 0.4 Bsf/annum of liquid helium, and in achieving this, the company will again be the world's largest commercial supplier of helium when the plant begins production in 2018.
"These are two very big accomplishments for our company. The equipment win to build the helium plant demonstrates RasGas' confidence in Air Products as a global supplier of high technology gas processing equipment and helium technology. Just as importantly, the long-term helium supply contract win demonstrates to our many customers our dedication to them in ensuring a consistent and reliable helium supply," said Walter Nelson, vice president and general manager – Global Helium at Air Products.
Air Products has an existing relationship with RasGas in other business and markets, and a successful history of accomplishments in Qatar. Air Products previously supplied the natural gas liquefaction technology, key liquefaction equipment, and helium extraction boxes for all 14 liquefied natural gas (LNG) trains for RasGas and Qatargas, as well as the large air separation plant for Oryx GTL, which are all located in Ras Laffan.
Air Products has been conducting business in the Middle East for over a half-century, having built the region's first-ever air separation unit (ASU) in the 1950s, and has more than 50 years of experience satisfying industrial gas customers. The company's Middle East operation is headquartered in Dubai, UAE. Regional business activity has accelerated in recent years with multiple industries requiring ASUs and hydrogen production plants, including the April 2015 announcement to build, own and operate the world's largest industrial gas complex in Jazan, Saudi Arabia. Air Products continues to build on long-standing regional relationships with the Abdullah Hashim Group and ACWA Power.
The helium supply contract win is another step in a series of important steps taken recently by Air Products to obtain reliable helium supply for customers. Air Products has won substantial amounts of helium from the United States Bureau of Land Management (BLM) strategic reserve at recent BLM auctions. Additionally, in August Air Products began selling helium captured via its proprietary and innovative technology at the world's only helium production plant that strips helium from a naturally occurring stream of carbon dioxide located in Colorado.
Air Products has pioneered many of the helium extraction, production, distribution and storage technologies used in the industry today and it operates numerous facilities around the world.
Helium is used in many unique and valued applications including: magnetic resonance imaging (MRI); lifting for high altitude scientific research balloons, blimps and party balloons; fiber optics and semiconductor manufacturing; metallurgy; breathing atmospheres for deep diving or unique blood gas medical mixtures; analytical chemistry; pressurizing and purging pipes, vessels, and other critical equipment; leak detection; and other advanced applications.
About Air Products
Air Products (NYSE:APD) is a leading industrial gases company. For nearly 75 years, the company has provided atmospheric, process and specialty gases, and related equipment to manufacturing markets including metals, food and beverage, refining and petrochemical, and natural gas liquefaction. Air Products' materials technologies segment serves the semiconductor, polyurethanes, cleaning and coatings, and adhesives industries. Over 20,000 employees in 50 countries are working to make Air Products the world's safest and best performing industrial gases company, providing sustainable offerings and excellent service to all customers. In fiscal 2014, Air Products had sales of $10.4 billion and was ranked number 276 on the Fortune 500 annual list of public companies. For more information, visit www.airproducts.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, 2014.
SOURCE Air Products