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Released November 05, 2021 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Air Products and Chemicals Incorporated (NYSE:APD) (Lehigh Valley, Pennsylvania) expects its capital expenditures (capex) to run between $4.5 billion and $5 billion in fiscal year 2022 as it continues development on a wide range of mega, midsize and small industrial gas projects across the globe. In comparison, the company's capex for its just-ended fiscal year 2021 amounted to $2.55 billion.
Air Products reported adjusted net income of $558.6 million for its fourth quarter ended September 30, compared with $486.8 million in fourth-quarter 2020.
Industrial Info is tracking more than $14 billion worth of active capital projects by Air Products. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can click here for a list of detailed project reports.
In an earnings-related conference call with industry analysts on Thursday, Chief Executive Seifi Ghasemi noted the company announced a number of mega projects during the fiscal year, including a $4 billion blue hydrogen and carbon sequestration project in Louisiana, and a $1 billion net-zero carbon emissions hydrogen facility in Alberta, Canada. With the execution of the two projects, Air Products plans to become the world's leading producer of blue hydrogen, which is produced from natural gas, with the associated carbon dioxide sequestered. For more information, see October 15, 2021, article - Air Products Plans $4.5 Billion Blue Hydrogen Complex in Louisiana and August 10, 2021, article - Air Products Expands Capital Deployment Target to $30 Billion by End-2027.
More recently, the company announced it and its joint-venture partners had closed on the $12 billion acquisition of the gasification, power and industrial gas project assets at the Jazan Economic City in Saudi Arabia from Saudi Aramco (Dhahran, Saudi Arabia). The assets will supply 75,000 metric tons per day (20,000 tons oxygen and 55,000 tons of nitrogen) to Saudi Aramco's 400,000 barrel-per-day refinery at Jazan. Subscribers can click here for Jazan refinery-related project reports.
Samir Serhan, Air Products' chief operating officer, said during the earnings conference call that the company also experienced substantial investments in small and midsized onsite gas generators across the globe, ranging in value from $500,000 to $50 million. The company saw a record amount of investments in fiscal year 2021 for vacuum swing adsorption units for onsite oxygen production, mainly for use by glass manufacturers.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Air Products reported adjusted net income of $558.6 million for its fourth quarter ended September 30, compared with $486.8 million in fourth-quarter 2020.
Industrial Info is tracking more than $14 billion worth of active capital projects by Air Products. Subscribers to Industrial Info's Global Market Intelligence (GMI) Chemical Processing Project Database can click here for a list of detailed project reports.
In an earnings-related conference call with industry analysts on Thursday, Chief Executive Seifi Ghasemi noted the company announced a number of mega projects during the fiscal year, including a $4 billion blue hydrogen and carbon sequestration project in Louisiana, and a $1 billion net-zero carbon emissions hydrogen facility in Alberta, Canada. With the execution of the two projects, Air Products plans to become the world's leading producer of blue hydrogen, which is produced from natural gas, with the associated carbon dioxide sequestered. For more information, see October 15, 2021, article - Air Products Plans $4.5 Billion Blue Hydrogen Complex in Louisiana and August 10, 2021, article - Air Products Expands Capital Deployment Target to $30 Billion by End-2027.
More recently, the company announced it and its joint-venture partners had closed on the $12 billion acquisition of the gasification, power and industrial gas project assets at the Jazan Economic City in Saudi Arabia from Saudi Aramco (Dhahran, Saudi Arabia). The assets will supply 75,000 metric tons per day (20,000 tons oxygen and 55,000 tons of nitrogen) to Saudi Aramco's 400,000 barrel-per-day refinery at Jazan. Subscribers can click here for Jazan refinery-related project reports.
Samir Serhan, Air Products' chief operating officer, said during the earnings conference call that the company also experienced substantial investments in small and midsized onsite gas generators across the globe, ranging in value from $500,000 to $50 million. The company saw a record amount of investments in fiscal year 2021 for vacuum swing adsorption units for onsite oxygen production, mainly for use by glass manufacturers.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
