LNG

Production companies seeking efficient and cost-effective methods of increasing their output are forecast to increase spending by almost 20 percent in 2023 to total $58 billion for additional oil and natural gas resources to satisfy global demand for energy such as LNG and pipeline gas and for necessary activities like petroleum refining and chemicals production to make products such as pharmaceuticals.

July 3 (LNGJ) - Technip Energies, the LNG and energy projects engineering company, has purchased a French firm Processium for an undisclosed sum. The Lyon-based firm is in the process development sector and owns laboratory and piloting facilities.

   “Processium is an industrial development partner designing and developing next-generation processes to support the energy transition and to enhance manufacturing competitiveness in the field of sustainable chemicals,” explained TechnipEnergies. “With this acquisition, Technip Energies will pursue its strategic objective of accelerating the development of new processes and technologies to meet the pressing needs of a fast-growing market,” it added.

Air Products, the US LNG equipment-maker and industrial gases company with several mega-projects in the Middle East and Asia, has signed a deal with the Uzbekistan Government and the national gas company to acquire a gas-to-syngas facility for $1 billion in the former Soviet republic.

Air Products, the world’s leading supplier of liquefaction processing equipment for LNG plants around the world, has also emerged as the main global producer of hydrogen with new contracts just awarded from the US National Aeronautics and Space Administration to match others from nations like oil producer Saudi Arabia.

Air Products, the leading provider of LNG equipment and processing and industrial gases, reported a fiscal quarterly increase of 5 percent in sales to $2.4 billion, though net income remained flat over the three months as orders included one for Mexico’s first LNG export project.

Glenfarne Group, the owner of the Magnolia LNG export project in Louisiana, has been granted five more years by the Federal Energy Regulatory Commission to complete the Louisiana plant and associated facilities.

US LNG and industrial gases company Air Products has posted an 18 percent jump in its fiscal full- year net income as it continues to build its gases business with joint ventures in Saudi Arabia and China.

Chart Industries, the US LNG equipment-maker and supplier to the liquid gas sector, posted a surge in annual sales to $1.08 billion from $842.9 million the previous year amid prospects of up to $500M of potential large LNG-related orders in 2019.

Air Products, the US LNG and industrial gases equipment-maker reported a strong fiscal second-quarter earnings performance with net income from continuing operations of $416 million amid rising sales.

Royal Dutch Shell posted a 17 percent increase in first-quarter sales volumes of liquefied natural gas from its global production assets located in countries such as Australia, Qatar, Nigeria and Peru as higher prices offset a rise in operating costs.