Air Liquide Increases Its Presence in Kazakhstan With a Significant Acquisition and Long-term Contract
March 02 2021 - 1:43PM
Dow Jones News
Regulatory News:
Air Liquide (Paris:AI) increases its presence in Kazakhstan
through its 75% owned joint venture Air Liquide Munay Tech Gases
(ALMTG). The joint venture will invest up to 86 million euros to
acquire hydrogen and nitrogen production units from Atyrau refinery
owned by KazMunayGas and to modernize them.
In the framework of a new long-term agreement, ALMTG will
operate these assets to supply industrial gases to the Atyrau
refinery. Up to 200 million Nm(3) of hydrogen and up to 50 million
Nm(3) of nitrogen will be produced annually on the site for
different production processes, including desulfurization of
fuels.
Air Liquide will bring its technical know-how, digital, and
energy optimization expertise to modernize the assets at Atyrau and
improve the overall CO(2) footprint of the site. These assets will
be connected to Air Liquide's Smart & Innovative Operations
Center in order to optimize their energy consumption as well as
their flexibility and reliability.
ALMTG is a respectively 75% and 25% owned joint venture between
Air Liquide and KazMunayGaz (KMG), the Kazakhstan National Oil
& Gas company. For more than 2 years now, ALMTG has been
successfully operating hydrogen and nitrogen production units for
KMG's refinery of Pavlodar. In the context of a contract announced
in October 2019, ALMTG is also building a nitrogen production unit
for a new petrochemical complex in Karabatan, near Atyrau, north of
the Caspian sea, to be started in 2021.
Francois Jackow, Executive Vice-President and a member of the
Executive Committee supervising Europe Industries activities, said:
"We are pleased to reinforce the collaboration we have been
building with the market leader KazMunayGas since our entry in
Kazakhstan. This new agreement illustrates our continued commitment
to providing long-term expertise and innovative environmentally
responsible solutions to our customers. With this investment - the
most important we have yet announced in the country - to increase
energy efficiency and provide reliable supply, we will contribute
to the modernization and development of the country's
industry."
Air Liquide Munay Tech Gases LLP, Kazakhstan
Established in 2016, Air Liquide Munay Tech Gases LLP is a joint
venture between Air Liquide and KazMunayGaz NC, the Kazakhstan
National Oil and Gas company with respective 75% and 25% ownership.
The headquarters of the company is located in Nur-Sultan (ex.
Astana).
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 78 countries with
approximately 64,500 employees and serves more than 3.8 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide's scientific territory and have been at the core of the
company's activities since its creation in 1902.
Air Liquide's ambition is to be a leader in its industry,
deliver long term performance and contribute to sustainability -
with a strong commitment to climate change and energy transition at
the heart of its strategy. The company's customer-centric
transformation strategy aims at profitable, regular and responsible
growth over the long term. It relies on operational excellence,
selective investments, open innovation and a network organization
implemented by the Group worldwide. Through the commitment and
inventiveness of its people, Air Liquide leverages energy and
environment transition, changes in healthcare and digitization, and
delivers greater value to all its stakeholders.
Air Liquide's revenue amounted to more than 20 billion euros in
2020. Air Liquide is listed on the Euronext Paris stock exchange
(compartment A) and belongs to the CAC 40, EURO STOXX 50 and
FTSE4Good indexes
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210302005993/en/
CONTACT: Corporate Communications
media@airliquide.com
Investor Relations
IRTeam@airliquide.com
SOURCE: Air Liquide
Copyright Business Wire 2021
(END) Dow Jones Newswires
March 02, 2021 13:28 ET (18:28 GMT)
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