Praxair, Inc. has recently consolidated its position in the carbon dioxide (CO2) market in the South East region of the US, by announcing a long-term contract with US Nitrogen LLC to purchase by-product CO2.
On top of this, Praxair will build, own and operate a new CO2 purification and liquefaction facility in Tennessee, which will start up towards the end of 2017.
By signing this deal Praxair will be increasing its CO2 production capacity in the most important region for industrial gases within the US. In 2014, the commercial industrial gas market in the South East reached peak revenues of approximately $4.8bn, making it the most profitable region for industrial gas within the US. The CO2 segment of the industrial gas market accounts for roughly 16% of revenues, generating roughly $750m in 2014.
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