Air Liquide Announces New Hydrogen Contract for Shell Oil Products, USA.
Hydrogen's increasing demand is largely driven by the need for refiners to comply with new environmental regulations being progressively introduced in the US and in Europe. The oil refining industry uses hydrogen to reduce the sulfur content in automotive fuels and thus in engine emissions.
The unit is expected to go on stream in the last quarter of 2003. It will produce 7.5 million cubic feet of hydrogen and byproduct steam, all of which will be used by Shell.
"The Shell project is important to Air Liquide for two reasons: first, it illustrates our recent success in this important refinery market, thus positioning Air Liquide for future hydrogen growth in many clean fuels projects of the next few years," said Pierre Dufour, Executive Vice President of Air Liquide. "Second, we are extremely pleased to strengthen our relationship with Shell, which is one of our most important global strategic accounts, and with whom we are involved in other significant oxygen, nitrogen and energy developments."
Present in 65 countries, Air Liquide is the world leader in industrial and medical gases and related services. The Group offers innovative solutions based on constantly enhanced technologies. These solutions help to protect life and enable our customers to manufacture many indispensable everyday products. Founded in 1902, Air Liquide has 30,800 employees. The Group has successfully developed a long-term relationship with its shareholders built on confidence and transparency and guided by the principles of corporate governance. Since the publication of its first consolidated financial statements in 1971, Air Liquide has posted strong and steady earnings growth. Sales in 2002 totaled 7,900 million euros, sales outside France accounted for more than 80%. Air Liquide is listed on the Euronext Paris stock exchange and is a component of the CAC 40 and Eurostoxx 50 indexes - Euroclear code 12 007.
For more information contact: Investor Relations Matthieu Baumgartner + 33 (0)1 40 62 55 19 Caroline Morand + 33 (0)1 40 62 55 41 Corporate Communications, U.S. Linda Krupps 713/624-8051 www.airliquide.com
CONTACT: investor relations, Matthieu Baumgartner, +33-0-1-40-62-55-19, or Caroline Morand, +33-0-1-40-62-55-41, or Corporate Communications, Linda Krupps, U.S., +1-713-624-8051, all of Air Liquide America L.P.
Web site: http://www.airliquide.com/