October 26, 2023
(press release)
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Woking, UK, October 25, 2023 – Linde (NYSE: LIN) announced today that its entities in India have signed long-term agreements for the supply of industrial gases to Indian Oil Corporation’s Panipat refinery in Northern India. Linde’s entities will build, own and operate major new on-site facilities to supply hydrogen, nitrogen and compressed dry air to IndianOil. The new on-site facilities will support the multi-billion-dollar expansion of the Panipat refinery from 15 to 25 million metric tons per year. Industrial gases play several important roles in refining, whether removing sulfur to make clean fuels, cracking crude oil into various products or purging and cleaning process equipment and control instruments. Panipat will be the second large-scale hydrogen plant which is built, owned and operated by Linde entities for IndianOil. It will also be one of Linde’s largest on-site plants in India, with a total combined industrial gas production capacity of 142,200 cubic metres (Nm3) per hour. The plant is expected to start up in 2025. In addition to supplying IndianOil, the new on-site complex will cater for demand for nitrogen from companies across end markets including chemicals & energy and manufacturing. “We won this project on the basis of the best-in-class efficiency offered by our technology, plus Linde’s track record of safely and reliably supplying our customers,” said Moloy Banerjee, President ASEAN & South Asia, Linde. “We look forward to building on our existing relationship with IndianOil, while also increasing our network density in Northern India.” Linde is a leading global industrial gases and engineering company with 2022 sales of $33 billion. We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain, decarbonize and protect our planet. The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions. For more information about the company and its products and services, please visit linde.comAbout Linde
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