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AIR PRODUCTS AND CHEMICALS, INC.

(APD)
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Louisiana Governor Edwards and Air Products Announces $4.5 Billion Blue Hydrogen Clean Energy Complex in Eastern Louisiana

10/14/2021 | 08:00am EST

Louisiana Governor John Bel Edwards and Air Products Chairman, President, and Chief Executive Officer Seifi Ghasemi are announcing a $4.5 billion clean energy complex to be built in Louisiana that will make the state a leader in the United States (U.S.) clean energy transition. Air Products is a industrial gas company that produces and transports hydrogen and other essential industrial gases to many customer facilities in Louisiana, across the U.S. Gulf Coast and around the world. Air Products will build, own and operate the megaproject, which will produce over 750 million standard cubic feet per day (MMSCFD) of blue hydrogen in Ascension Parish, Louisiana. "Blue" products are produced utilizing hydrocarbons as a feedstock, with the carbon dioxide (CO2) in the production process captured for permanent sequestration. The project will create 170 permanent jobs with a total annual payroll of $15.9 million and more than 2,000 construction jobs over three years. It represents Air Products' largest-ever investment in the U.S. A portion of the blue hydrogen will be compressed and supplied to customers by Air Products' extensive U.S. Gulf Coast hydrogen pipeline network. The network is the hydrogen pipeline system in the world, stretching more than 700-miles from Galveston Bay in Texas to New Orleans, Louisiana., this vast U.S. Gulf Coast pipeline network can supply customers with more than 1.6 billion cubic feet of hydrogen per day from approximately 25 production facilities, including blue hydrogen from Air Products' Port Arthur, Texas facility. The Port Arthur facility has captured approximately one million tons of CO2 annually since 2013, with the CO2 transported via pipeline and utilized for enhanced oil recovery operations. The balance of the blue hydrogen from the new Ascension Parish facility will be used to make blue ammonia that will be transported around the world and converted back to blue hydrogen for transportation and other markets. The innovative megaproject will also feature the world's instance of CO2 capture for permanent sequestration and produce only environmentally friendly blue products. The megaproject is expected to be operational in 2026.


ę S&P Capital IQ 2021
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Analyst Recommendations on AIR PRODUCTS AND CHEMICALS, INC.
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Financials (USD)
Sales 2022 11 155 M - -
Net income 2022 2 325 M - -
Net Debt 2022 5 114 M - -
P/E ratio 2022 27,6x
Yield 2022 2,20%
Capitalization 63 918 M 63 918 M -
EV / Sales 2022 6,19x
EV / Sales 2023 5,80x
Nbr of Employees 20 750
Free-Float 88,5%
Chart AIR PRODUCTS AND CHEMICALS, INC.
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Air Products and Chemicals, Inc. Technical Analysis Chart | APD | US0091581068 | MarketScreener
Technical analysis trends AIR PRODUCTS AND CHEMICALS, INC.
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Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 288,62 $
Average target price 324,26 $
Spread / Average Target 12,3%
EPS Revisions
Managers and Directors
Seifollah Ghasemi Chairman, President & Chief Executive Officer
Melissa N. Schaeffer Chief Financial Officer & Senior Vice President
Brian Galovich Chief Information Officer & Senior Vice President
Samir J. Serhan Chief Operating Officer
Chadwick C. Deaton Lead Independent Director
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