LNG

Chart Industries, the US equipment-maker for liquefied natural gas and other clean energy and industrial gases markets, reported a record backlog of more than $4.3 billion as LNG orders continued to flow from North America to China.

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 Inc., the liquefied natural gas equipment-maker and industrial gas and energy technology company, posted solid third-quarter results including record operating income and backlog of orders.

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 LNG equipment-maker and industrial gas technology company, has received all regulatory approvals to close the acquisition of UK engineering firm Howden for a purchase price of $4.4 billion from affiliates of KPS Capital Partners LP.

“Howden is a leading global provider of mission critical air and gas handling products providing service and support to customers around the world in highly diversified end-markets and geographies,” said Chart.

Howden manufactures highly engineered fans, compressors, rotary heat exchangers, steam turbines, and other air and gas-handling products, services and solutions.

Chart, based in Atlanta, Georgia, has funded the acquisition through a combination of cash and shares of a newly created class of preferred stock.

The UK company is headquartered in Renfrew, Scotland, and employs more than 6,500 people globally in 35 countries, including more than 750 engineers.

In the LNG sector alone, Chart has become a leading supplier of technology for major LNG projects under construction on the US Gulf Coast and is involved in providing regasification and LNG transportation equipment around the world, including in Europe and Asia.

New York-based fund KPS acquired Howden in 2019 from Colfax Corp. in a highly complex global corporate carve-out transaction.

Synergies

Chart said it had identified significant commercial synergies in the takeover that are expected to reach $350M annually by year three.

The US company said the combination of Chart and Howden furthers its global leadership position in highly engineered process technologies and products serving clean power, clean water, clean food and clean industrials.

Chart also announced it was scheduled to present at the Bank of America Global Industrials Conference in London on March 21 at 12:15 pm Greenwich Mean Time (8:15 am. Eastern Time).

Chart Chief Executive and President Jill Evanko is scheduled to be the presenter at the BoA event.

Dec 9 (LNGJ) - Chart Industries, the US LNG and industrial gas equipment-maker, continued its series of debt and share offerings to fund the previously announced acquisition of UK engineering firm Howden. Chart priced its offering of $1.46 billion of 7.500-percent senior secured notes due 2030 at an issue price of 98.661 percent and $510 million of 9.500-percent unsecured notes due in 2031 at an issue price of 97.949 percent.

   Chart said the offering was expected to close on December 22, 2022, subject to customary closing conditions. “The Notes will be fully and unconditionally guaranteed, jointly and severally, by each of Chart’s wholly owned domestic subsidiaries that guarantee its senior secured credit facilities,” said the Atlanta, Georgia-based company.

Chart Industries, the US LNG equipment-maker and industrial gases company, has signed an accord to bring carbon-capture solutions to customers in the Middle East and Africa.

Chart said it signed a memorandum of understanding (MOU) with Abu Dhabi-based Contract and Trading Group (C.A.T. Group) to focus on the two companies providing carbon reduction services to state-owned firms and energy companies.

Atlanta, Georgia-based Chart has expertise in providing liquefaction, regasification, storage and transportation for LNG and industrial gases and already includes carbon-dioxide measures in its offering through the Cryogenic Carbon Capture™ technology of its subsidiary Sustainable Energy Solutions Inc.

Chart acquired Sustainable Energy Solutions in 2020 and the company has 44 US patents issued, a further 17 pending and 20 patents issued internationally relating to carbon-dioxide storage, evaporators and other technologies.

The US company is continuing its expansion into the carbon-capture and cleaner energy sectors while also being among the leaders in providing equipment for LNG export plants on the US Gulf Coast as well as LNG transportation containers and fuel stations.

LNG customers

Chart’s customers include Venture Global’s export facilities in Louisiana, including the new Plaquemines project on the Mississippi River south of New Orleans, Cheniere Energy’s Corpus Christi plant expansion in Texas and Tellurian’s Driftwood project, south of Lake Charles in Louisiana.

“We are excited to partner with C.A.T., a respected global leader in contracting with a particular focus on the energy transition,” said Jill Evanko, Chart CEO and President.

“We anticipate that our companies’ complementary strategies to adopt carbon-capture technologies and complete project solutions will accelerate customer decisions about their clean energy operations, particularly in the Middle East and Africa where carbon-capture is a natural part of the movement towards more sustainability,” added Evanko.

C.A.T. Group has broad customer relationships in the Middle East and Africa and has decades-long project experience.

It offers engineering, procurement and construction as well as project management to customers from its energy, civil, industrial, pipeline, and renewables divisions.

The Group’s CEO, Joseph Gebara, said he was pleased to partner with Chart with its expertise in LNG and other sectors.

“Chart’s technology, equipment and services are highly regarded in the LNG and CO2-capture sectors and together we will offer our customers in the Middle East and Africa complete solutions for the energy transition,” added Gebara.

The 50th anniversary Gastech Exhibition and Conference on LNG, pipeline natural and emerging energies is beginning on September 5 in the Italian city of Milan with global energy leaders and executives set to discuss the growing global gas crisis.

Chart Industries Inc., the liquefied natural gas equipment-maker and industrial gas technology company, reported first-quarter 2022 all-time record orders of $636.8 million, its fourth record-order quarter out of the past five quarters.

Chart Industries, the US maker of equipment for LNG and industrial gases facilities, has received additional limited notice to proceed for its processing and equipment supplies for Cheniere Energy’s expansion of the Corpus Christi liquefaction plant in Texas.

Chart said it would supply their IPMSR® process and equipment in conjunction with the LNTP system.

The Atlanta, Georgia-based company said it booked an order of $47.5 million for the project from Bechtel Inc. one of the world’s leading LNG engineering, procurement and construction companies.

“Chart will begin recognizing revenue on this project in 2022 with a multi-year staggered delivery schedule,” said the company.

Cheniere’s expansion, known as Stage III and comprising the construction of seven mid-scale liquefaction Trains adjacent to the existing facility, is set for a final investment decision soon.

The mid-scale Trains will add nameplate capacity of almost 10 MTPA to the 13.5 MTPA from the three larger existing Corpus Christi Trains, each producing 4.5 MTPA.

Other orders

Chart has racked up record order in the past year. It recently received a full notice to proceed for the production of cold boxes and brazed aluminum heat exchangers for Venture Global’s Plaquemines LNG export plant on west bank of the Mississippi River.

The Chart equipment will be for the first phase of the venture with production of 10MTPA.

Chart said it would begin recognizing revenue on this project in 2022 with a multi-year staggered delivery schedule.

Chart is benefiting from the LNG boom on the US Gulf Coast and after supplying equipment for the Plaquemines plant, it has also been contracted as a supplier for Tellurian’s Driftwood LNG project.

The Plaquemines project is under preliminary site preparation on the river bank 30 miles south of New Orleans.

First phase production will comprise nine modular blocks with the 10 MTPA of output eventually followed by nine additional block for 20 MTPA in total.