Honeywell is Bullish on LNG

28 August 2024

Honeywell has been a significant force in energy, from large battery storage implementations, pre-treatment solutions and coil-wound heat exchangers (CWHE), to name but a few. Honeywell plans to acquire Air Products’ liquefied natural gas (LNG) process technology and equipment business, increasing their investment in natural gas. This acquisition and investment is significant as Honeywell ups its stake and participation in their energy transition portfolio.

“While the world continues to build the renewables-based energy infrastructure of the future, natural gas is a critical lower-emission and affordable transition fuel that will help meet ever-increasing and dynamic global energy demands,” said Vimal Kapur, Chairman and CEO of Honeywell.

Conversely, Air Products, known for their dominance as a Nitrogen supplier, and the divestiture of their LNG heat exchanger technology and equipment business allows them to focus on their core offerings: their industrial gas business along with their continued investment in technology that delivers clean hydrogen at scale, to decarbonize industrial and heavy-duty transportation sectors.

ODIN’s take on this is that both firms recognize the important and oftentimes critical role of natural gas, LNG and hydrogen play in the long-term effort for the energy transition.

You can read the article in its original form here.

*LNG Heat Exchanger banner image courtesy of Air Products: A completed LNG heat exchanger manufactured at Air Products’ Port Manatee facility is being loaded on a carrier at the Port of Manatee for shipment to the customer.