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.