Air Liquide Strengthens Its Relationship with Sinopec in China

Regulatory News:

Air Liquide (Paris:AI) recently entered into a new joint venture with Sinopec (China Petroleum & Chemical Corp.) in Beijing, for the take-over and optimization of three existing ASUs (Air Separation Units) and the building of a new nitrogen production unit, for a total investment of 40 million euros. In the third quarter 2017, Air Liquide also commissioned a new state-of-the art ASU for the supply of oxygen and nitrogen to Sinopec in South China.

The new joint venture, Air Liquide-BYPC Gases, is located in Beijing and will supply oxygen and nitrogen to Sinopec Beijing Yanshan Co. with a total capacity of 340 tonnes of oxygen and 1,110 tonnes of nitrogen per day.

In South China, located in Maoming City of Guangdong Province, the newly commissioned ASU¹ supports the new ethylene oxide plant of Sinopec’s subsidiary, Maoming Petrochemical (MPCC), by supplying oxygen (850 tonnes per day) and nitrogen (840 tonnes per day).

Sinopec is one of the largest integrated energy and chemical companies in China. Cooperation between Air Liquide and Sinopec dates back to 2007. The two parties have established three joint ventures so far.

François Abrial, member of the Air Liquide Group’s Executive Committee supervising Asia Pacific, said: "The continuous expansion of our partnership with Sinopec showcases their confidence in Air Liquide’s ability to provide state-of-the-art technologies and competitive solutions. We are proud to provide our expertise to Sinopec, in support of their expansion in China.”

Air Liquide in China
operates nearly 90 plants and employs more than 4,000 employees today. With a strong presence in the key coastal industrial areas, Air Liquide China is now expanding into the center, south and west. Its main business activities include industrial and medical gas operations, Engineering & Construction (designing, manufacturing and installing air separation units/hydrogen facilities), as well as innovation activities.

The world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 80 countries with approximately 65,000 employees and serves more than 3 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 lead its industry, deliver long term performance and contribute to sustainability. The company’s customer-centric transformation strategy aims at profitable 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 € 18.1 billion in 2016 and its solutions that protect life and the environment represented more than 40% of sales. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, EURO STOXX 50 and FTSE4Good indexes.

¹ Investment decided by Air Liquide in 2016.

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