Honeywell Redefines LNG Project Execution

Ken West, President and CEO of Honeywell’s Energy and Sustainability Solutions (ESS), highlights how the company’s acquisition of Air Products’ LNG process technologies creates a new model for executing large-scale LNG projects.

Global LNG Demand and Challenges

As global energy demand is expected to grow by 18% by 2050, countries are turning to diverse energy sources, including LNG, to ensure energy security. However, the LNG industry faces significant challenges, including project financing, execution risks, and emissions reduction.

Honeywell’s Strategic Acquisition

In 2024, Honeywell acquired Air Products' advanced LNG Process Technology business, creating a solution to many of these challenges. This acquisition not only strengthens Honeywell’s LNG capabilities but also transforms how LNG projects are developed and executed. By leveraging modularization, digitalization, and automation, Honeywell can reduce project timelines, improve asset performance, and reshape the economics of large-scale LNG projects.

Streamlining LNG Project Execution

Traditionally, LNG projects involve multiple suppliers for various processes, leading to extended timelines and increased costs. Honeywell’s new approach consolidates expertise into a single execution model, streamlining project delivery and reducing risks. The benefits include:

• Optimized design with reduced fragmentation

• 3 to 6 months saved through standardized engineering

• More secure financing due to clearer execution paths

Honeywell also supports customers who prefer the traditional multi-partner approach.

Digitalization and Efficiency Gains

By integrating advanced automation and digital tools, Honeywell offers customers a comprehensive view of LNG projects. The use of digital twins and predictive analytics enables operators to detect issues early, predict maintenance needs, and increase production efficiency. This digital approach can improve LNG production by 1% to 2%, a significant financial gain in the sector.

Addressing Emissions and Sustainability

While LNG helps reduce emissions, there is increasing pressure to minimize methane leaks and lower its overall carbon footprint. Honeywell’s integration of carbon capture strategies and real-time leak detection helps operators address methane emissions more effectively.

A New Era for LNG Projects

Honeywell’s integration of LNG process technologies represents a strategic shift in the industry, improving project design, execution, and optimization. This new model enhances the bankability, efficiency, and sustainability of LNG projects. With LNG demand expected to rise by 50% by 2040, Honeywell is positioned to lead the way in providing faster, more efficient, and lower-carbon LNG solutions. This evolution proves that energy security and low-carbon energy can work together for a sustainable future.