DANBURY, Conn.--(BUSINESS WIRE)--Praxair, Inc. (NYSE:PX), a global leader in the production and supply of helium and other industrial gases, announced today that it has signed a long-term agreement with Castleton Commodities International (CCI) for the refining and purchase of helium.
Praxair and CCI have worked together during the last few years to develop helium in the Four Corners region by leveraging CCI s existing infrastructure to reduce both capital and operating costs. This relationship strengthens our capabilities to meet our customers needs safely, efficiently and reliably
CCI, a leader in gas processing in the Four Corners region of the U.S., owns and operates a gas processing facility and helium refinery in Utah. Praxair has been actively developing helium-rich natural gas fields in the region, including helium associated with a recently announced purchase agreement with Nacogdoches Oil & Gas. With Praxair s additional feedstock, CCI will restart its idled refinery, which can produce up to 150 million cubic feet per year of liquid helium.
Praxair and CCI have worked together during the last few years to develop helium in the Four Corners region by leveraging CCI s existing infrastructure to reduce both capital and operating costs. This relationship strengthens our capabilities to meet our customers needs safely, efficiently and reliably, said Amer Akhras, general manager, Global Helium and Rare Gases at Praxair.
Praxair s leadership in helium sourcing, operations, and distribution made it the clear choice to help us restart our helium plant safely and efficiently. This gives other producers in the region with access to our plant increased ability to develop their helium resources. This is a win for CCI, Praxair and the region, said CCI Executive Vice President Brad Burmaster.
Praxair s leadership dates back to 1917, the year it developed the first plant for extracting helium from natural gas. Today, Praxair is a fully integrated and global leader in the production and distribution of helium, with numerous operations throughout the world. Helium is used in many applications, including magnetic resonance imaging (MRI), fiber optic and semiconductor manufacturing, breathing atmospheres, lifting for blimps and balloons, automobile airbags and leak detection.
Praxair, Inc., a Fortune 250 company with 2014 sales of $12.3 billion, is the largest industrial gases company in North and South America and one of the largest worldwide. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others. More information about Praxair, Inc. is available at www.praxair.com.
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