PARIS--(BUSINESS WIRE)--Regulatory News:
Air Liquide (Paris:AI) has signed a long-term agreement with Gulf Coast Growth Ventures (GCGV), a 50/50 joint venture between ExxonMobil and SABIC, to supply oxygen and nitrogen from its industrial gas pipeline network to GCGV’s planned ethane cracker facility located near Corpus Christi, in Texas. To support the new agreement and additional volumes, Air Liquide plans to invest nearly 140 million USD to build a new world-scale Air Separation Unit in Bay City, Texas, and related infrastructure investments.
Air Liquide will supply 2,000 tons per day of oxygen and 900 tons per day of nitrogen to GCGV’s planned 1.8 million tons per year ethane cracker facility. Air Liquide will also add nearly eight miles of pipeline to connect GCGV to its Gulf Coast Pipeline System, strengthening Air Liquide’s extensive capabilities throughout the Gulf Coast region of the U.S., and its position in the growing industrial basin of Corpus Christi, where it has been present since the mid-1930’s.
In addition to delivering full requirements for oxygen and nitrogen to GCGV’s new petrochemical plant, the production capacity from the Bay City ASU, and its connection to Air Liquide’s expansive pipeline network along the Gulf Coast, will enable Air Liquide to retire older, less efficient assets. By modernizing its asset fleet, Air Liquide provides enhanced competitiveness to its customers over the long term and reduces the carbon intensity of its operations, hence contributing to achieving its 2025 Climate Objectives.
With Air Liquide’s ability to provide large volumes of oxygen and nitrogen via its integrated production and supply network, customers can benefit from a safe, flexible and reliable supply to meet their growing demands.
Michael Graff, Air Liquide Group Executive Vice President and Member of the Executive Committee, said: “Air Liquide is proud to be part of this word-class project and to collaborate with industry leaders like ExxonMobil and SABIC. This long-term agreement and investment in the new Bay City, Texas ASU, further demonstrates Air Liquide’s strong position and extensive capabilities in the Gulf Coast region of the U.S. and its commitment to providing customers with sustainable, high quality solutions to meet their growing needs safely, reliably and with excellence.”
Air Liquide Large Industries activity
offers gas and energy solutions that improve process efficiency and help achieve greater respect for the environment, mainly in the refining and natural gas, chemicals, metals and energy markets. In 2018, revenues were €5,685 million.
Air Liquide in the United States
Air Liquide employs more than 20,000 people in the U.S. in more than 1,300 locations and plant facilities including a world-class R&D center. The company offers industrial and medical gases, technologies and related services to a wide range of customers in energy, petrochemical, industrial, electronics and healthcare markets. www.airliquide.com/USA
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 80 countries with approximately 66,000 employees and serves more than 3.6 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.
Air Liquide’s ambition is to be a leader in its industry, deliver long term performance and contribute to sustainability. The company’s customer-centric transformation strategy aims at profitable growth over the long term. It relies on operational excellence, selective investments, open innovation and a network organization implemented by the Group worldwide. Through the commitment and inventiveness of its people, Air Liquide leverages energy and environment transition, changes in healthcare and digitization, and delivers greater value to all its stakeholders.
Air Liquide’s revenue amounted to 21 billion euros in 2018 and its solutions that protect life and the environment represented more than 40% of sales. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.