Praxair Expands On-Site Supply in Southern China Petrochemical Park
By Business Wire News
Praxair, Inc. (NYSE:PX) announced it has signed a long-term contract to provide industrial gases to the China National Offshore Oil Company (CNOOC), a Fortune Global 100 company and one of the largest in China. The project, expected to start up in 2017, will enable the reliable and efficient supply of industrial gases for CNOOC’s refinery and downstream chemical production.
Praxair will build, own and operate two 2,400 tons per day air separation plants in the Huizhou Daya Bay Chemical Industrial Park, located in Huizhou, Guangdong, China. Praxair’s product line plants will provide oxygen and nitrogen to CNOOC to support the company’s refinery expansion from 250,000 to 460,000 barrels of oil per day. Praxair currently serves other customers in the Park including the existing CNOOC refinery and the CNOOC and Shell petrochemical complex. This investment will further position the company to supply new customers in the Park via pipeline.
“This new agreement is a result of the strong relationship we have built with China National Offshore Oil Company over time, as we have provided them with the reliable supply of industrial gases they need to successfully run their operations,” said John Panikar, president of Praxair Asia. “The project also expands Praxair’s operations in southern China, particularly in the coastal region, where we have already built a significant presence.”
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 specialty gases, 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, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others. More information about Praxair, Inc. is available at www.praxair.com.