LNG

Honeywell has bagged an order from Technip, EPC contractor for the Commonwealth LNG export project, for delivery of modularized liquefaction and gas processing equipment. Delivery of the modules is scheduled by mid‑2028, well in advance of the terminal's planned start-up in 2029.

Honeywell, the US technology group, has agreed to acquire the liquefied natural gas process technology and equipment business of global leader Air Products for $1.81 billion in an all-cash transaction.

Honeywell, the US materials and technology group, has agreed to acquire Compressor Controls Corp., a provider of turbomachinery control hardware and services for the LNG, gas processing and refining sectors, for $670 million.

Honeywell, based in Charlotte, North Carolina, said it was buying CCC from Indicor LLC, owned by private equity firm Clayton, Dubilier and Rice and Roper Technologies.

“Compressor Controls Corp. is a leading provider of turbomachinery control and optimization solutions, including control hardware, software and services, and primarily serves the LNG, gas processing, refining and petrochemical segments,” said Nasdaq-listed Honeywell.

Honeywell said the acquired company would be integrated into its Process Solutions business and would strengthen Honeywell's presence in LNG, gas processing, industrial control, automation and process solutions.

The acquisition also bolsters Honeywell's portfolio with new carbon-capture control systems where the same turbomachinery is used to achieve effective removal of carbon-dioxide from process plant emissions.

Process portfolio

“Compressor Control Corp. is an ideal complement to our process solutions portfolio, as it brings an installed base of greater than 14,000 control applications to our portfolio and will enable us to accelerate growth,” said Lucian Boldea, President and Chief Executive of Honeywell Performance Materials and Technologies.

“By enhancing our digitalization portfolio, we are helping customers accelerate their energy transitions through new controls and automation that, for example, can help with carbon capture and sequestration,” Boldea added.

Honeywell said that the addition of Compressor Control Corp.’s proprietary performance analytics, optimization algorithms and predictive health analysis to Honeywell's existing Forge Performance-plus offering would offer end-users the opportunity to maximize production uptime and minimize maintenance spending.

“The combination of the company's existing offerings will provide the most complete end-to-end portfolio of products for operational control, safety, and asset performance management of compressors, turbines, generators and other turbomachinery in the LNG, gas processing, refining and petrochemical segments,” Honeywell explained.

“These assets are the most critical production assets in these industries and have significant impact on the downtime, energy consumption and maintenance expense of end users,” it added.

LNG customers

Compressor Control Corp. is headquartered in Des Moines, Iowa, and has offices located in major oil and gas production regions and employs around 280 people.

“The transaction is expected to close in the second half of 2023, subject to customary closing conditions, including receipt of certain regulatory approvals,” Honeywell added.

Honeywell’s existing LNG industry clients include Louisiana export plant developer Venture Global.

Venture Global’s Calcasieu Pass LNG export facility in Cameron Parish also uses a series of other LNG capable technologies from Honeywell to help remove various contaminants from natural gas prior to liquefaction.

The completed Calcasieu Pass plant included Honeywell’s Mercury Removal Unit (MRU) and Acid Gas Removal Unit (AGRU) technology.

Honeywell noted that taken together, these modular units remove water, mercury, carbon dioxide and sulfur from 1.6 billion standard cubic feet per day of natural gas so it can be liquefied and safely transported to customers on LNG carriers.