Seifi Ghasemi, Chairman, President and CEO
Different growth drivers will determine the future growth of our merchant and on-site businesses. The merchant business, including liquid bulk and packaged gases, will grow with local manufacturing activities. The growth of the on-site business will be driven by new projects and customer outsourcing, with excellent opportunities for significant investments. Air Products expects to commit more than $30B in capital for the 10-year period from 2018–2027, funded by its strong cash flow and ample borrowing capacity. These new investments will enable the company to accelerate its future growth by continuing to expand Air Products' base business, and win and execute significant sustainability-focused projects around the world.
These investment opportunities are driven by the demand for additional energy, and we see ourselves at the heart of providing solutions through Gasification, CO2 Capture and H2 for Mobility. Leading this capital deployment strategy is gasification, where proprietary technologies and in-house expertise make Air Products the clear leader. Next, our experience and know-how to capture CO2 emissions for our customers can drive significant project growth. And, we believe H2 can play an important part of the world's future energy needs.
Premier provider of turnkey solutions to convert hydrocarbon feedstock into synthesis gas for high-value products and power.
Global leader of technical options for capturing CO2 from fossil fuel conversion before it reaches the atmosphere, key to Carbon Capture and Sequestration.
Leader in hydrogen fueling infrastructure and leading developer of hydrogen energy services and equipment.
Air Products has designed and constructed a large-scale system to capture carbon dioxide (CO₂) from our two steam methane reformers located within the Valero Refinery in Port Arthur, Texas. The recovered and purified CO₂ is delivered by pipeline to Denbury Onshore for use in their enhanced oil recovery operations.
Described by the Department of Energy as a milestone in its Industrial Carbon Capture and Storage program, this unprecedented achievement, which uses an Air Products innovative technology, is the first-of-its-kind operating at such a large scale, and has not been accomplished anywhere else in the U.S.
Since 2014, our technology for carbon capture and sequestration at our Port Arthur facility has captured over five million metric tons of CO₂ that would have otherwise been emitted into the environment.