Air Products reported 2Q FY 2022 results, said the company.
Asia sales of USD751 M increased 8% over the prior year on 6% higher volumes, particularly on-site volume from new, traditional industrial gas plants; 1% higher pricing; and 1% higher energy cost pass-through.
Operating income of USD204 M increased 3% and adjusted EBITDA of USD322 M increased 2%, as favourable volumes and pricing more than offset higher costs.
Operating margin of 27.1% decreased 140 basis points and adjusted EBITDA margin of 42.8% decreased 240 basis points.
We remind, Pertamina and Air Liquide Indonesia, signed a joint study agreement on capturing carbon emissions from its Balikpapan hydrogen production facility and storing the carbon in the Kutai basin area off East Kalimantan province. Some of the emissions would be converted into products like methanol, which can be used to produce low-carbon fuels, Pertamina said in the statement. Indonesia, which relies heavily on fossil fuels for its energy, aims to achieve net-zero emissions by 2060 and aims to nearly double the proportion of renewables in its energy mix to 23% by 2025.
As per MRC, Air Products announced that it is teaming up with World Energy to build a new USD2 B major expansion project at World Energy’s sustainable aviation fuel (SAF) production and distribution hub in Paramount, California. The L.A. county facility is the world’s first commercial scale and North America’s only SAF production facility and its total fuel capacity will be expanded to 340 MM gallons annually.
mrchub.com