Honeywell has acquired Air Products’ LNG process technology and equipment business, positioning itself as a leader in the expanding LNG market amid shifting global energy demands.

Target Information

Honeywell has successfully acquired the liquefied natural gas (LNG) process technology and equipment division of Air Products, a strategic move aimed at enhancing its capabilities in the LNG market. This segment is crucial for liquefying natural gas, allowing it to be shipped globally at a reduced volume for economic viability. With LNG's rising importance in the energy sector, this acquisition positions Honeywell to unlock more value from natural gas resources and support diversification of global energy supplies.

Industry Overview

The global energy landscape is undergoing significant changes, driven by emerging technologies such as artificial intelligence (AI) and the increasing demand for power. The International Energy Agency (IEA) highlights a potential tenfold increase in electricity demand from search engines leveraging AI, marking the urgent need for sustainable and scalable energy solutions. Moreover, it is projected that U.S. data center electricity demand could double by 2030, potentially accounting for up to nine percent of the nation’s electricity generation.

As the transition to renewable energy accelerates, natural gas, particularly LNG, is gaining traction as a crucial component of energy infrastructure. Unlike other fossil fuels, natural gas has a lower carbon footprint, making it a favorable option for back