LNG

Chart Industries, the US equipment-maker for liquefied natural gas and other clean energy and industrial gases markets, said its technology enabled the delivery of first LNG to the New Fortress Energy production project offshore Altamira in the Gulf of Mexico.

US company Argent LNG, with plans to develop a liquefaction plant at Port Fourchon in Louisiana, has selected Chart Industries to supply modular processing equipment.

Argent is proposing a facility at a 144-acre site west of Belle Pass on the Louisiana Gulf Coast with an initial capacity of 10 million tonnes per annum which could be doubled.

The Argent plant will feature modules and the volumes produced would be targeted at the LNG maritime fuel market.

These include the next-generation of LNG-powered Offshore Supply Vessels (OSVs) in the Gulf of Mexico.

Atlanta, Georgia-based Chart will be supplying its Integrated Pre-Cooled Single Mixed Refrigerant (IPSMR®) processing technology to the Louisiana plant.

Advantages

“Chart’s IPSMR sets a new standard for efficiency and performance in liquefaction, surpassing conventional technologies and enabling Argent LNG to tailor its liquefaction systems precisely to site-specific conditions,” explained Chart.

Chart said that its equipment has the capability to optimize the matching of gas turbine power with single cold box capacity, ensuring maximum operational efficiency and cost-effectiveness.

“We are excited to embark on this transformative journey with Chart Industries,” said Jonathan Bass, CEO at Argent LNG.

“Their mid-scale modular model perfectly aligns with our vision for an agile and efficient LNG facility,” stated Bass.

“The technology's superior performance will empower us to optimize operations and deliver a compelling, competitive solution to the market, which is scheduled to come online in 2029-2030,” added Bass.

Chart has listed the advantages of its technology including cost and the ease of fine-tuning system configuration while maintaining high performance standards.

Engineering start

“We are excited to partner with Argent LNG to provide our IPSMR® technology, brazed aluminum heat exchangers, coldboxes and air coolers,” stated Jill Evanko, Chart’s Chief Executive and President.

“Argent is strategically optimising a 20 MTPA LNG facility by moving entirely to modular, resulting in a smaller footprint, higher efficiency and less cost, and therefore offering their customers the most efficient and effective solution,” Evanko added.

Chart said it had begun engineering work related to the Argent project and anticipated booking an IPSMR® technology and equipment order in 2025.

Chart Industries, the US LNG equipment-maker and industrial gases company, has received a key order from the Cedar floating LNG project being developed in the Canadian Pacific province of British Columbia.

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. 

March 21 (LNGJ) - Chart Industries, the LNG and industrial gas equipment-maker, said it had joined with fleet owner GasLog LNG Services to study the development of a commercial-scale liquid hydrogen (LH2) supply chain leveraging GasLog’s latest development of a liquid hydrogen vessel and Chart’s experience in cryogenics and large-scale liquefaction solutions.

   “This collaboration with Chart Industries is our commitment to explore and support the use of hydrogen, via liquid form, to benefit industries and users globally,” explained GasLog Chief Executive Paolo Enoizi. “I have confidence that our combined experience from the cryogenic industries will ensure the safety and efficiency of novel liquid hydrogen supply chains across the world,” added Enoizi.

Chart Industries Inc., the US equipment-maker for the liquefied natural gas and other clean energy and industrial gases markets, said global end-market demand continued to be strong in 2024.

Chart Industries Inc., a leading global engineering design and manufacturer of highly engineered equipment with LNG and industrial gas applications, is furthering its partnership with Canadian cleantech company Kathairos.

Chart Industries Inc., the liquefied natural gas equipment-maker and industrial gas technology company, has sold a low-pressure compression and vacuum technologies company for $300 million in cash to the US group Ingersoll Rand.

Chart said the transaction, which is subject to customary closing conditions, was expected to be completed in the third quarter.

As part of the transaction, Ingersoll Rand will assume ownership of the Roots manufacturing facility in Connersville, Indiana, which is dedicated to Roots products and will retain the 300 employees at Roots.

“We are excited to have executed a definitive agreement in the second quarter 2023 to sell Roots, which is another key step in accelerating our deleveraging plan while simultaneously allowing us to focus on our core strategic solution offering and integration efforts,” stated Jill Evanko, Chart’s Chief Executive and President.

“We also are thrilled that the business will be owned by Ingersoll Rand, a proven strategic partner and a company that will care for the Roots’ team members,” added Evanko.

Vicente Reynal, Chairman and Chief Executive of Ingersoll Rand, said he was pleased with the acquisition.

Benefits

“We have long admired Roots and are thrilled to add this iconic brand to our portfolio. This complementary acquisition expands our low-pressure compression and vacuum product offerings and is a great example of our partnership with Chart, where the acquisition was a win-win for both companies,” added Reynal.

Chart is also reiterating its full year 2023 anticipated outlook for revenue, adjusted gross earnings, adjusted earnings per share, free cash flow and operational cash flow available for debt paydown.

The company reported in May that first-quarter results were helped by LNG orders and additions from Chart’s acquisition of UK group Howden.

Chart’s first-quarter included strong starts for Chart and Howden with orders amounting to $747.7m, contributing to a record $3.9 billion backlog.

Additionally, Chart booked a “Big LNG” order from leading global liquefaction plant builder Bechtel for air-cooled heat exchangers, brazed aluminum heat exchangers and ethylene storage tanks for Sempra Infrastructure’s Port Arthur LNG project.

The company also listed an order for $115M for the IPSMR® liquefaction systems from the Chinese shipyard Wison Heavy Industry Co. for small-scale LNG projects all driven by Chart’s IPSMR® technology, including one for Italian oil and gas major and LNG project developer ENI.

A separate order was also made for brazed aluminum heat exchangers for a floating LNG application for $19.5M.

Chart said quarterly small-scale and floating LNG orders totalled $139M, which was a 263 percent increase for these types of orders when compared to the first quarter of 2022. 

Chart Industries Inc., the liquefied natural gas equipment-maker and industrial gas technology company, posted first-quarter results helped by LNG orders and the signals of strong future results from the acquisition of UK group Howden.

Chart Industries Inc., the LNG equipment-maker and industrial gas technology company, has received a first-quarter 2023 boost as orders increased following its $4.4 billion acquisition of UK engineering firm Howden with both new branches of the company contributing and synergies already emerging.