Praxair Signs Long-Term Contract with Total and Further Expands Pipeline Network in the Port of Antwerp
Praxair, Inc. (NYSE:PX) today announced it has signed a 15-year contract
to supply oxygen and nitrogen to Total in the Port of Antwerp. Total, a
global integrated energy producer and provider and leading international
oil and gas company, is currently investing one billion euro in the port
to upgrade its largest refining and petrochemicals platform in Europe.
As a result, the company will require increased quantities of industrial
gases for several applications in its refinery and petrochemical
processes. Praxair is expanding its recently built oxygen pipeline an
additional three miles to connect with Total’s refinery.
Praxair will also extend its nitrogen pipeline on the west bank of the
river to efficiently serve existing and new petrochemical customers.
Given the significant capacity and infrastructure investments made in
the port over the past several years, there is growing demand in this
region for nitrogen for blanketing and inerting of chemicals in storage.
Praxair expects the oxygen and nitrogen pipeline supply to be
operational in the second half of 2016.
“Our pipeline network expansion provides us the enhanced ability to
efficiently and effectively meet the nitrogen and oxygen needs of
companies in this growing chemical park,” said Frank Wegmann, managing
director of Praxair Germany and Benelux. “Integrated petrochemical ports
such as Antwerp remain highly competitive, continue to attract billions
of dollars of investment and are positioned for growth for years to
Praxair, Inc., a Fortune 250 company with 2014 sales of $12.3 billion,
is the largest industrial gases company in North and South America and
one of the largest worldwide.
The company produces, sells and distributes atmospheric, process and
and high-performance surface coatings. Praxair products, services
and technologies are making our planet more productive by bringing
efficiency and environmental benefits to a wide variety of industries,
and beverage, electronics,
healthcare, manufacturing, primary metals and many others. More
information about Praxair, Inc. is available at www.praxair.com.
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Copyright Business Wire 2016
Source: Business Wire
(January 26, 2016 - 9:30 AM EST)
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