LNG

Chart Industries, the US LNG equipment-maker and industrial gases market player, has held a formal opening ceremony for a “jumbo” cryogenic tank manufacturing facility in Theodore in the southern US state of Alabama.

This plant is the second built by Chart in Theodore and will manufacture the world’s largest shop-built cryogenic tanks with capacity of up to 1,700 cubic metres.

“The tanks manufactured at this site will be used for propellant storage for the aerospace industry, hydrogen and LNG storage for marine and power, gas by rail and for many other applications in the sciences and decarbonization industries,” explained Chart.

The facility, known by Chart as “Teddy 2”, has direct access to waterways and railways, providing customers with lower freight costs and faster transportation to site.

Jobs creation

Chart added that this expansion also contributes significantly to local job creation and economic development efforts for the state of Alabama.

“We’re thrilled to officially expand our presence in Theodore, Alabama with our ability to offer the world’s only shop-built cryogenic tanks of this scale,” said Jill Evanko, Chart’s Chief Executive and President.

“This expansion further supports our customers through increased capacity and scale as well as lower freight costs and shorter lead times,” Evanko added.

“We look forward to continuing to hire from the strong, skilled workforce in Alabama,” stated the CEO.

Alabama Governor Kay Ivey was a guest at the ribbon- cutting ceremony and praised Chart for its contribution to the further economic development in Mobile County.

“Chart Industries recognizes both the strength of local engineering expertise as well as our advanced manufacturing and workforce capabilities,” Ivey said.

“We’re looking forward to Chart’s expansion in south Alabama, creating new jobs for our region,” the Governor declared.

Maritime and aerospace

Mobile Chamber President and CEO, Bradley Byrne, said he was delighted by the Chart expansion in Theodore.

“With the capacity to fabricate the world's largest shop-built cryogenic tanks, Chart’s Teddy 2 facility brings significant job creation and economic development for Mobile County,” said Byrne.

“Chart's investment not only highlights our skilled workforce, but it positions Mobile as a hub for innovation in aerospace, maritime and the clean energy industries,” Byrne stated,

In its most recent earnings Chart said global end-market demand continued to be strong in 2024.

Atlanta, Georgia-based Chart reported in its fourth-quarter and annual earnings that there were more than $21 billion in identified potential orders in its commercial pipeline for the next three years.

Chart issued the forecasts in the fourth-quarter and annual earnings statement as it also outlined the growing benefits of the takeover of the UK engineering group Howden.
Chart’s earnings statement showed a record fourth-quarter backlog of $4.28Bln, supported by record quarterly orders of $1.21Bln. 

The United States expects liquefied natural gas exports to average 6.6 billion cubic feet per day in the second quarter of 2020 before declining in the third quarter.