Air Products (AP) recently announced it has completed the acquisition of General Electric’s (GE) gasification business from GE Power. Financial terms of the transaction are not being disclosed.
The gasification business acquired by AP includes GE’s share of its 50/50 joint venture (JV) with China Shenhua Coal to Liquid and Chemical Company, a subsidiary of China Energy Group, a world-class energy company. The JV, formed in 2012, provides technologies for gasification projects in China.
In Air Products’ sale-of-gas business model, the company finances, builds, owns, operates and maintains the gas production plant so its customers can focus their attention and capital on their primary business. Examples of larger-scale, multi-billion-dollar gasification projects include the Lu’an, Juitai and Yankuang Group projects in China, as well as the Jazan project in Saudi Arabia.
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