Air Products to build two new carbon monoxide plants in Texas

Air Products and Chemicals (NYSE:APD) said Monday it will build, own and operate two new carbon monoxide production plants in Texas, which will produce a combined 70M-plus scf/day of carbon monoxide and be connected to the company's existing Gulf Coast CO pipeline network; financial details were not disclosed.

At the new La Porte plant, Air Products (APD) plans to produce more than 30M scf/day of carbon monoxide, with the vast majority to be supplied to LyondellBasell (LYB); the new facility is expected to come onstream in 2024.

At the Texas City plant, the new unit will produce more than 40M scf/day of CO, with the vast majority to be supplied to Eastman Chemical (EMN); once onstream in 2026, the facility will be the world's largest single source of carbon monoxide production.

Air Products (APD) said the facility will be incorporated into its existing CO pipeline network with the addition of a new 35-mile connection to Texas City.

Air Products (APD) is scheduled to announce Q2 earnings results tomorrow.

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