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 October 12, 2015 - 3:01 AM EDT
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Air Liquide Signs Long-term Contract with Major Petroleum Group in China

SHANGHAI, Oct, 12, 2015 /PRNewswire/ -- Air Liquide signed a new long-term contract with Yan'an Energy and Chemical Co., a subsidiary of Yanchang Petroleum Group, one of the four largest Chinese companies for oil and natural gas exploration & production, and oil refining. Under the terms of the new agreement, Air Liquide will invest around 80 million euros in two state-of-the-art ASUs (Air Separation Units), with a total capacity of 2,800 tonnes of oxygen per day.

Expected to start operations in Q1 of 2018, the new ASUs will supply air gases including oxygen and nitrogen for the customer's chemicals production complex which will produce 600,000 tonnes per year of olefins, a chemical intermediate used notably in the production of plastics.

The two ASUs, located in Fuxian County of Yan'an City, Shaanxi Province, will be built by Air Liquide's Engineering and Construction teams using leading technologies to offer energy efficiency as well as optimal reliability and safety, and will be owned and operated by Air Liquide.

François Venet, Vice-President, Asia Pacific and a member of Air Liquide group's Executive Committee, commented: "We are pleased to have been selected as the partner for this project. This strategic cooperation demonstrates our ability to provide innovative solutions that improve energy efficiency. The project also marks our growing commitment to investing in Western China."

Wang JiaxinChairman and General Manager of Yan'an Energy and Chemical Co., commented: "It's our pleasure to collaborate with Air Liquide, whose state-of-the-art technologies and international expertise in safe operations will ensure the steady gas supply of the project. Through this partnership, we look forward to contributing to the economic development of Fuxian County and Shaanxi Province as a whole."

Contract Signing Ceremony

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Air Liquide China
Operates more than 85 plants and employs about 4,300 employees with a strong presence in the key coastal industrial areas, and is expanding into the center, south and west. Its main business activities include industrial and medical gas operations, as well as Engineering  & Construction (designing, manufacturing and installing air separation units/hydrogen facilities).

The Large Industries business line of Air Liquide
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 2014, revenues were €4,980 million.

The Engineering and Construction activity (Global E&C Solutions)
The Engineering and Construction activity (Global E&C Solutions) builds the Group's production units – mainly air separation units (ASUs) and hydrogen production units – and provides plants for third-party customers.

About Air Liquide
World leader in gases, technologies and services for Industry and Health, Air Liquide is present in 80 countries with more than 50,000 employees and serves more than 2 million customers and patients. Oxygen, nitrogen and hydrogen have been at the core of the company's activities since its creation in 1902. Air Liquide's ambition is to be the leader in its industry, delivering long-term performance and acting responsibly.

Air Liquide ideas create value over the long term. At the core of the company's development are the commitment and constant inventiveness of its people.

Air Liquide anticipates the challenges of its markets, invests locally and globally, and delivers high-quality solutions to its customers and patients, and the scientific community.

The company relies on competitiveness in its operations, targeted investments in growing markets and innovation to deliver profitable growth over the long-term.

Air Liquide's revenues amounted to € 15.4 billion in 2014, and its solutions that protect life and the environment represented more than 40% of sales. Air Liquide is listed on the Paris Euronext stock exchange (compartment A) and is a member of the CAC 40 and Dow Jones Euro Stoxx 50 indexes.

Source: PR Newswire (October 12, 2015 - 3:01 AM EDT)

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