LNG

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 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. 

Baker Hughes, the US liquefied natural gas equipment-maker and energy services company, swung to an annual profit compared with a previous loss as quarterly income also rose along with revenues amid an operational overhaul and among the orders booked was one for LNG from the United Arab Emirates.

Oct 31 (LNGJ) - Air Products has been contracted by Malaysian energy company Petronas to provide main cryogenic heat-exchanger (MCHE) technology as part of an upgrade of the Bintulu LNG liquefaction and export plant in Sarawak, the Malaysian state on the island of Borneo. The US company said replacements were part of a program being implemented to “extend the life and continue the superior performance and high reliability” of the MLNG Dua LNG facility in Bintulu.

   Air Products, whose headquarters are in Allentown, Pennsylvania, said that this would be the second and third MCHE replacements provided by the company at this facility for the original units completed almost three decades ago. “Air Products is honored that our equipment’s reliability, performance and longevity have led our valued customer to remain with our leading technology yet again,” said Samir J. Serhan, Chief Operating Officer of Air Products. The company's LNG heat exchangers currently operate in over 100 LNG Trains in 20 countries around the world.

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, has signed an accord with US company Koch Engineered Solutions (KES) aimed at providing full carbon-capture solutions to key customers in the energy sector and other industries.

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.

Chart Industries, the US LNG equipment-maker and industrial gases and clean energy company, reported a record backlog for an eighth consecutive quarter, surpassing $2 billion for the first time in its history.

Chart Industries, the US LNG and industrial gases equipment-maker, has completed the acquisition of Fronti Fabrications Inc., a specialist in engineering, machining and welding for the cryogenic and gas sectors.

Chart Industries, the US maker of LNG and industrial gases equipment for the energy transition, has just been awarded four liquefaction project orders from four different customers.

Chart said the orders for the smaller scale sector were worth more than $120 million.

Additionally, the Atlanta, Georgia-based company has received releases on engineering work, amounting to limited notice to proceed, on two of the “Big LNG” export plant projects which are expected to proceed to final investment decision in 2022.

Highlights of the four liquefaction project awards include a hydrogen liquefier.

The 15-ton-per-day liquefier will be built in North America with a new hydrogen liquefaction customer.

“This is our fourth hydrogen-helium liquefaction order of the year in 2021 and with those four orders totalling approximately $150M, covering three different geographies and three different customers,” Chart explained.

Liquefaction

The orders also include a 60,000-ton BioLNG liquefaction train and associated equipment.

Chart added that the third order is for a BioLNG facility and associated station infrastructure for 20 BioLNG stations with an established European customer, Verbio.

The fourth order is for a utility-scale LNG liquefaction plant which is an integrated facility and the first in the nation with a hybrid (gas-electric) drive and for a customer in the Northeast US.

Chart added that this customer plans to utilize both natural gas and renewable natural gas (RNG) in this long-duration energy storage solution meeting reliability and environmental targets.

“We are pleased that our hydrogen and LNG liquefaction process technology and equipment capabilities are recognized and utilized globally and across industries,” stated Jill Evanko, Chart’s Chief Executive and President.

“We view this past week’s awards and overall continued broad-based demand as strong indicators that the energy transition is accelerating,” added Evanko.

“These orders give further support to our previously announced 2022 outlook,” stated the CEO.