LNG

US LNG equipment-maker Chart Industries said it received orders for its ISO containers for LNG applications with a second leasing order from Latin American and Caribbean project New Fortress Energy.

At the same time, Atlanta, Georgia-based Chart is expanding its liquid hydrogen and LNG businesses with strategic agreements.

Chart said the value of the latest New Fortress contract totaled $7.7 million.

“The first order of a similar size was booked in July 2020, and we look forward to our continued relationship with New Fortress as they execute their vision,” said chart.

“As a reminder, we see double digit near-term growth in our repair, service and leasing business, and continue to expect growing demand for LNG equipment for infrastructure,” stated the company.

Chart also completed the divestiture of its cryobiological products business, MVE Biological Products, to Cryoport Inc., headquartered in Brentwood, Tennessee, for $320M in cash.

In other activities, Chart and Plug Power Inc., based in Latham, New York state, executed a master supply agreement for Chart to deliver liquid hydrogen storage and transport equipment to Plug and its subsidiaries.

“We are excited about this agreement between two strong and experienced companies in the hydrogen value chain,” said Chart.

“In conjunction with the agreement, Chart received $7.8M of equipment orders from Plug that are booked in the third quarter of 2020,” it added.

Plug Power is a leader within the US hydrogen economy, using 40 tons of liquid hydrogen per day.

“Plug Power is well-positioned in the industry with capabilities in generation, liquefaction and distribution of hydrogen fuel, complementing its industry-leading position in the design, construction, and operation of more than 100 customer-facing hydrogen fueling stations,” explained Chart.

Char stated that it was close to executing a formal joint development agreement and entity with one of its key hydrogen customers which will focus on developing first-of-a-kind liquid hydrogen fueling applications.

“This agreement builds upon Chart’s 50-plus years of experience designing and manufacturing hydrogen equipment for storage, transport and power applications as well as our customer’s multi-station infrastructure in the United States for the expansion of fuel cell vehicles,” it explained.

“Timing this agreement with the California Energy Commission’s September 2020 grant funding for multi-year, multiple hydrogen fuel stations, the future of a scalable fueling infrastructure is accelerating,” added Chart.

Baker Hughes, the US liquefied natural gas equipment supplier, has secured an order from Qatar Petroleum to supply multiple main refrigerant compressors and turbines for the LNG producer’s North Field East LNG expansion.

Chart Industries, the US LNG storage, fuel and liquefaction equipment-maker, had its highest orders intake of 2020 in June and for the second quarter there were record sales in LNG vehicle tanks and filling stations as it looked forward to a boost in railcar business.

Chart Industries, the maker of equipment for the liquefied natural gas and industrial gas industries, said it was awarded the contract to supply four LNG fuel tanks for the marine fuel-gas systems of two LNG-powered chemical tankers being built at the Wuhu Shipyard on the banks of the Yangtze River in China.

Chart said the contract was awarded on behalf of the owners of the two 22,000 deadweight-ton vessels, Rederi AB Donsotank from Sweden through project company LGM Engineering.

“Each of the 300 cubic metres capacity cryogenic tanks comprise double stainless steel shells with vacuum and perlite insulation,” said Chart.

The US company explained that the tanks would be designed and manufactured at Chart’s Changzhou facility in China and approved by the European maritime classification society, DNV GL.

“Chart’s technology is integral to the increased number of LNG-powered ships on international waters and the bunkering infrastructure required to fuel them,” said Robert Chen, President of Chart’s distribution and storage division for Asia.

Chart, whose headquarters are in the suburbs of Atlanta, has said it continued to see revenue and orders strengthen in particular in the liquefaction, storage and transport markets for global LNG, industrial gas infrastructure and small-scale ventures.

The company is a supplier of equipment to US LNG export projects on the Gulf Coast being developed by Cheniere Energy, Tellurian Inc. and Venture Global.

Chart said on September 10 that it had received full notice to proceed for the production of cold boxes and brazed aluminum heat-exchangers for the Calcasieu Pass LNG export plant being developed by Arlington, Virginia-based Venture Global.

Calcasieu Pass will produce more than 10 million tonnes per annum of LNG and is expected to come on stream in 2022, along with associated facilities, including the TransCameron Pipeline.

Chart’s most recent earnings underpinned the advance of global LNG projects as quarterly revenue increased by 7 percent to $309.6M over the previous three months.

Chart completed its latest acquisition in July 2019 when it took over Harsco Corp.’s Air-X-Changers business, specializing in gas compression coolers.

Air Products, the US maker of LNG processing equipment and a leading industrial gases provider and plant developer, reported a 13.4 percent rise in fiscal quarterly net income from continuing operations as sales declined 2 percent from a high base to $2.2 billion.

Air Products of the US, the maker of LNG processing equipment and a leading industrial gases provider and plant developer, has recalled its role in putting the first man on the moon on July 20, 1969, during 50th anniversary celebrations.

Chart Industries, the maker of equipment for the liquefied natural gas and industrial gas industries, posted a rise in net income and revenues as it benefited from orders across all sectors from large liquefaction plants to small-scale LNG and completed another acquisition.