Honeywell has acquired Air Products' liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction, aiming to enhance its energy transformation capabilities. This acquisition, the fourth announced by Honeywell this year, covers natural gas pre-treatment and cutting-edge liquefaction technologies that will be integrated into Honeywell's Forge and Experion platforms. The move is expected to allow Honeywell to provide customers with a comprehensive solution for managing their energy transformation journey efficiently. By incorporating Air Products' LNG business, Honeywell aims to optimize the management of natural gas assets globally. The deal includes Air Products' proprietary technologies for coil-wound heat exchangers (CWHE), ensuring high throughput of natural gas while maintaining operational safety. Honeywell's CEO, Vimal Kapur, highlighted the importance of natural gas as a transitional fuel in meeting global energy demands alongside renewable sources. The acquisition is seen as a strategic addition to Honeywell's energy transition portfolio, aligning with its commitment to sustainable energy practices. Honeywell's Energy and Sustainability Solutions segment foresees the integration of Air Products' LNG business as a way to provide scalable solutions for customers navigating towards more sustainable and efficient energy practices. The transaction, not subject to financing conditions, is expected to close before the end of the year, pending standard closing procedures.