Chart Industries, Inc., a leading diversified global manufacturer of highly engineered equipment for the industrial gas and energy industries, reports increased activity in the small-scale LNG (“ssLNG”) and utility-scale LNG markets. These smaller liquefaction plants typically have a production capacity of less than 500,000 tons per year, and serve specific uses such as marine bunkering, fuel for over the road transport, and power generation in targeted locations.
Chart has booked a $10.4 million order for the liquefier, compressor, and tank equipment content on a utility-scale liquefied natural gas (LNG) project in the Northeast United States. The company says the ssLNG market serves a different customer set than mid-scale and base-load export terminal operators.
Small-scale and utility-scale LNG is projected to grow to between 75 million and 95 million tons by 2030. In the next three years, we estimate total market opportunity to be over $650 million for Chart equipment and process on these applications.
From small-scale LNG plants to vehicle fueling systems, Chart is facilitating the use of a clean burning, safe and economical fuel alternative for transportation and energy.