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Released March 02, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Chart Industries Incorporated (NYSE:GTLS) (Atlanta, Georgia), which provides engineered equipment to the clean-energy and industrial-gas markets, enjoyed a record year for project orders in 2022. Demand for liquefied natural gas (LNG) drove a record order backlog of more than $2.3 billion, which the company called "a strong setup to our 2023 outlook." Chart anticipates demand for large-scale, small-scale and floating LNG will continue over the coming year, along with demand for hydrogen, water treatment, and carbon capture and storage services. Industrial Info is tracking $24 billion worth of active projects involving Chart, including more than $5.7 billion worth that are under construction.
Click on the image at right for a graph detailing active projects featuring Chart's services, by the project parent company.
"We signed agreements or memoranda of understanding (MOUs) with 30 different partners in 2022, with a balance between hydrogen (38%), LNG and liquefaction (34%) and carbon capture, utilization and storage (CCUS) (25%), including 10 new MOUs executed in the fourth quarter 2022, with partners such as [China-based] Wison Heavy Industry Company Limited, that in turn has already placed a meaningful order with us to start 2023," the company said in a press release that accompanied reported full-year 2022 results.
Chart's full-year orders of $2.78 billion included three large-scale LNG orders totaling $620.7 million, led by $348 million worth associated with the third stage of Cheniere Energy Incorporated's (Houston, Texas) Corpus Christi Mid-Scale LNG Liquefaction Plant in Gregory, Texas. The project, which began construction in September, includes a production plant with seven LNG trains and a storage unit, which will produce 10.5 million metric tons per year and store up to 160,000 cubic meters, as well as a pretreatment unit that will process up to 1.5 billion cubic feet per day of natural gas.
Both projects started construction in September, with Bechtel Corporation (Reston, Virginia) providing general engineering, construction and procurement services. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can read detailed project reports on the production plant and pretreatment unit.
Chart also is serving as technology provider for Tellurian Incorporated's (Houston) Driftwood LNG Terminal in Lake Charles, Louisiana, which is facing slow progress and steep hurdles. Tellurian has been scrambling to find financing for the project after agreements to supply LNG to Shell plc (NYSE:SHEL) (London, England) and Vitol S.A. (Geneva, Switzerland) were cancelled in September. Commodities trader Gunvor Limited (Geneva, Switzerland) is weighing whether it wants to maintain its supply contract, and Indian gas distributor GAIL (India) Limited recently proposed buying a stake of up to 26% in a U.S. LNG project, although it did not specify which project it was considering.
Nonetheless, Tellurian announced it had started early construction on the first phase of Driftwood LNG last spring, with Chart providing its Integrated Pre-cooled Single Mixed Refrigerant (IPSMR) liquefaction process technology. Another four production trains are being considered, along with a series of pretreatment units. Subscribers can learn more from a plant profile and a detailed project report for the first phase, and can click here for a list of detailed reports for other Driftwood LNG-related projects.
Chart also is in a partnership with Plug Power Incorporated (NASDAQ:PLUG) (Latham, New York) to develop a green hydrogen-generation network. Plug Power has placed a series of orders over the past two years to install Chart's helium refrigeration technology, cold box designs and associated equipment at green hydrogen plants in Alabama, New York, and Kingsland, Georgia, both of which started construction in the second half of 2021. They are designed to produce 45 tons and 15 tons of liquid hydrogen per day, respectively.
The hydrogen produced at both facilities is to be used in the logistics and transportation industries. Both projects received a boost from the U.S. Inflation Reduction Act (IRA). Subscribers can read detailed reports on the New York and Georgia projects.
"In addition to the U.S. IRA, other governments are committing funds and programs for green energy and supporting carbon-emission reductions, which we expect to drive further demand for our solutions globally, in particular in energy, hydrogen, water, food, and carbon capture," Chart said in the press release. "Examples of this include the recently announced European Green Deal Industrial Plan, India's National Green Hydrogen Mission, and the continuation of the support for a hybrid of clean-energy sources."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active projects featuring Chart's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing active projects featuring Chart's services, by the project parent company."We signed agreements or memoranda of understanding (MOUs) with 30 different partners in 2022, with a balance between hydrogen (38%), LNG and liquefaction (34%) and carbon capture, utilization and storage (CCUS) (25%), including 10 new MOUs executed in the fourth quarter 2022, with partners such as [China-based] Wison Heavy Industry Company Limited, that in turn has already placed a meaningful order with us to start 2023," the company said in a press release that accompanied reported full-year 2022 results.
Chart's full-year orders of $2.78 billion included three large-scale LNG orders totaling $620.7 million, led by $348 million worth associated with the third stage of Cheniere Energy Incorporated's (Houston, Texas) Corpus Christi Mid-Scale LNG Liquefaction Plant in Gregory, Texas. The project, which began construction in September, includes a production plant with seven LNG trains and a storage unit, which will produce 10.5 million metric tons per year and store up to 160,000 cubic meters, as well as a pretreatment unit that will process up to 1.5 billion cubic feet per day of natural gas.
Both projects started construction in September, with Bechtel Corporation (Reston, Virginia) providing general engineering, construction and procurement services. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can read detailed project reports on the production plant and pretreatment unit.
Chart also is serving as technology provider for Tellurian Incorporated's (Houston) Driftwood LNG Terminal in Lake Charles, Louisiana, which is facing slow progress and steep hurdles. Tellurian has been scrambling to find financing for the project after agreements to supply LNG to Shell plc (NYSE:SHEL) (London, England) and Vitol S.A. (Geneva, Switzerland) were cancelled in September. Commodities trader Gunvor Limited (Geneva, Switzerland) is weighing whether it wants to maintain its supply contract, and Indian gas distributor GAIL (India) Limited recently proposed buying a stake of up to 26% in a U.S. LNG project, although it did not specify which project it was considering.
Nonetheless, Tellurian announced it had started early construction on the first phase of Driftwood LNG last spring, with Chart providing its Integrated Pre-cooled Single Mixed Refrigerant (IPSMR) liquefaction process technology. Another four production trains are being considered, along with a series of pretreatment units. Subscribers can learn more from a plant profile and a detailed project report for the first phase, and can click here for a list of detailed reports for other Driftwood LNG-related projects.
Chart also is in a partnership with Plug Power Incorporated (NASDAQ:PLUG) (Latham, New York) to develop a green hydrogen-generation network. Plug Power has placed a series of orders over the past two years to install Chart's helium refrigeration technology, cold box designs and associated equipment at green hydrogen plants in Alabama, New York, and Kingsland, Georgia, both of which started construction in the second half of 2021. They are designed to produce 45 tons and 15 tons of liquid hydrogen per day, respectively.
The hydrogen produced at both facilities is to be used in the logistics and transportation industries. Both projects received a boost from the U.S. Inflation Reduction Act (IRA). Subscribers can read detailed reports on the New York and Georgia projects.
"In addition to the U.S. IRA, other governments are committing funds and programs for green energy and supporting carbon-emission reductions, which we expect to drive further demand for our solutions globally, in particular in energy, hydrogen, water, food, and carbon capture," Chart said in the press release. "Examples of this include the recently announced European Green Deal Industrial Plan, India's National Green Hydrogen Mission, and the continuation of the support for a hybrid of clean-energy sources."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active projects featuring Chart's services.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
