By Joanna Sampson2017-09-11T08:03:00+01:00
Air Products has signed an agreement to form a $1.3bn joint venture (JV) with Lu’An Clean Energy Company, which will significantly expand Air Products’ scope of supply serving Lu’An Mining Group Co., Ltd’s syngas-to-liquids production in Changzhi City, Shanxi Province in China.
The new JV, to be called Air Products Lu’an (Changzhi) Co., Ltd., will own and operate the ASUs and gasification and syngas clean-up system. The JV will receive coal, steam and power from Lu’An and will supply syngas to Lu’An under a long-term, onsite contract. Closing is expected as soon as possible, pending initial operational start-up and government and regulatory approvals.
Seifi Ghasemi, Chairman, President and CEO of Air Products said, “We are delighted to have Lu’An, a leading clean energy company in China, as our JV partner. The creation of this world-class JV is perfectly in line with our stated strategy of deploying our significant cash to grow by acquiring existing assets and expanding our scope of supply to include syngas.”
Lu’An’s Chairman, Li Jinping added, “Extending our strong partnership/relationship with Air Products through this new JV enables us to take advantage of world-leading project management and operational expertise to deliver syngas for this landmark energy project.”
The agreement is subject to government and regulatory approval.
Air Products, a world leader in liquefied natural gas (LNG) technology and equipment, has won a contract to supply heat exchanger and liquefaction process equipment to the floating liquefied natural gas (FLNG) facility to be located in the Indian Ocean offshore Mozambique, Africa.
Air Products has expanded the capabilities of its patented Mobile Cryogenic Hydrogen Compressor (CHC) system in response to customers’ needs for urgent and cyclical gas supply.
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