Ken West, President and CEO of Energy and Sustainability Solutions (ESS) at Honeywell, outlines how the Air Products LNG process technologies acquisition creates a new industry execution model
Global energy demand is expected to increase by up to 18% by 2050, according to industry analysts. The world is attempting to meet this growing need with an increasing mix of energy sources – from renewables to bio-based sources such as sustainable aviation fuel, in addition to traditional sources.
Liquefied natural gas (LNG) is becoming a key energy source for some countries to ensure energy security. Consequently, the global LNG industry is experiencing rapid transformation, and also faces several challenges including project bankability, execution risk, and emissions reduction.
Honeywell’s 2024 acquisition of Air Products’ advanced LNG Process Technology business means we have a solution to overcome many of those challenges. The integration of the two operations since has gone well beyond expanding Honeywell’s capabilities. It represents a fundamental shift in developing and executing LNG projects. By leveraging modularisation, digitalisation, and automation, Honeywell can expedite bringing LNG projects to market and enhance peak asset performance. In the process it can redefine the economics of large-scale LNG projects.
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