Air Liquide to Invest up to $850 million in New U.S. Gas Facility
By Pierre Bertrand
Air Liquide said it will invest up to $850 million to develop an industrial gas facility in the U.S. state of Texas which will primarily serve ExxonMobil.
The French industrial gas company said it will build and operate four large modular air separation units to serve ExxonMobil's low-carbon hydrogen project in Baytown.
The investment will enable Air Liquide to produce and supply 9,000 metric tons per day of oxygen for the production of hydrogen, and up to 6,500 metric tons per day of nitrogen to help turn hydrogen into ammonia and as a source of energy for the export market.
The units will also produce large quantities of argon, as well as krypton and xenon, Air Liquide said.
"Pending a final investment decision, this major project would mark the largest industrial investment in the history of the Air Liquide Group," the company said Monday.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
June 24, 2024 12:25 ET (16:25 GMT)
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