Honeywell Process Solutions, a part of Honeywell International Inc (HON), recently announced that its automation and safety technology has been selected for the third phase of the Central Asia - China Gas Pipeline project (:CACGP).
Asia Trans Gas, a joint venture of China National Petroleum Corp. (:CNPC) and Uzbekistan national holding company, selected Honeywell's Experion Process Knowledge System (PKS.V) and Safety Manager technology to promote the integrity and safety of its natural gas pipeline project. Already, Honeywell’s technology has been maintaining efficiency and safety for the first two pipelines in the CACGP project.
Honeywell’s technology is well suited to meet the challenges faced by operators and provides easier access to information for the decision-making process. The main integration and control software platform for the 530-kilometer pipeline combined with the overall system is likely to help improve safety practices such as emergency shutdowns, equipment protection, fire and gas monitoring, and critical control.
The demand for natural gas in China is likely to grow 8% annually. The third pipeline will run parallel along with the existing twin pipelines and help the operators manage the critical pipeline operations in an effective and safe manner. The gas pipelines, when integrated, will meet the growing energy demand in China and will be instrumental in developing the economic activities in this region.
Honeywell is a global diversified technology and manufacturing company with a wide range of products and services. These include control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include Federal Signal Corp (FSS) carrying a Zacks Rank #1 (Strong Buy), and Carlisle Companies Inc. (CSL) and ITT Corp. (ITT), both carrying a Zacks Rank #2 (Buy).Read the Full Research Report on HON
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