Air Products and Chemicals, Inc. APD has been selected to provide Qatargas with its proprietary AP-X Natural Gas Liquefaction Process technology and equipment for the first phase of Qatar Petroleum’s massive LNG production expansion project in Ras Laffan, the State of Qatar.
Notably, each of the four new LNG process units is expected to have a production capacity of 7.8 million tons per year. Air Products will build the AP-X LNG heat exchangers at its manufacturing facility in Port Manatee, FL.
Per Air Products’ management, AP-X liquefaction technology sets the norms for the industry and delivers the largest LNG process trains in the world. Notably, these AP-X units have a process production capacity of 50% more than any other LNG train in operation.
Further, the proven AP-X process allows considerably higher output of LNG, and offers an effective and flexible operation over a wide variety of production capabilities.
Air Products’ shares have gained 26.3% in the past year against the industry’s 3.2% decline.
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On its third-quarter earnings call, Air Products said that it will continue to generate value for shareholders over the long term and invest in world-scale, sustainability-focused projects, notwithstanding the challenging environment.
Air Products and Chemicals, Inc. Price and Consensus
Zacks Rank & Stocks to Consider
The company currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Equinox Gold Corp. EQX, Barrick Gold Corporation GOLD and Gold Fields Limited GFI.
Equinox Gold has a projected earnings growth rate of 255.2% for the current year. The stock has gained around 106% in a year. It currently has a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Barrick Gold has a projected earnings growth rate of 72.6% for the current year. The company’s shares have gained around 69% in a year. It currently has a Zacks Rank #2.
Gold Fields has an expected earnings growth rate of 35.7% for 2020. The company’s shares have rallied 126.5% in the past year.It is presently a Zacks #2 Ranked player.
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