Praxair Signs an Agreement with Marathon Petroleum Corporation
Praxair Inc. collaborates with Marathon Petroleum Corporation to supply
hydrogen to petroleum refinery in Louisiana
United States:
Praxair Inc., a U.S based industrial gases supplier, joined hands with Marathon
Petroleum Corporation (MPC), an American petroleum refining company. As per the
agreement, Praxair will supply hydrogen to Marathon Petroleum Corporation’s
largest refinery in Garyville, Louisiana. Moreover, MPC has plans to utilize
the hydrogen to support its ongoing project on ultra-low-sulfur diesel which is
expected to be completed by 2018. Hydrogen plays a key role in the removal of undesirable pollutants from
the crude oil products. Praxair Inc. has agreed to supply the gas
through its extensive pipeline network in Southeast Louisiana.
TechSci Research depicts that this agreement will strengthen the customer base of
Praxair Inc. across the globe. Additionally, this agreement will cater to the
increasing demand for hydrogen from the leading petrochemical refineries in the
domestic as well as the global markets such as across Europe, Middle East and
Asia Pacific countries. As a result, the demand for hydrogen in oil refinery
chemicals market is expected to increase in future.
According
to the recently published report by TechSci
Research,
“Iran
Oil Refinery Chemicals Market By Type, By Application,
Competition Forecast and Opportunities, 2011 – 2021”, the oil refinery chemicals market in
Iran is projected to grow at a CAGR of 5% over the next five years. In 2015,
merchant hydrogen held the largest share in the Iran oil refinery chemicals
market, owing to growing demand for hydrogen due to its ability to remove
undesirable pollutants from crude oil products. Refining catalysts, pH
adjusters and corrosion inhibitors are the other major oil refinery chemicals
consumed in Iran. In addition to domestic players, several global players such
as Air Liquide, Air Products and Chemicals Inc., and Sud Chemie are also
operating in Iran oil refinery chemicals market.