Published on 16 Apr 2024 on Zacks via Yahoo Finance

Chart Industries (GTLS) Secures Liquefaction Equipment Order

Chart Industries, Inc. GTLS recently secured an order from Black & Veatch to provide critical liquefaction equipment for the Cedar liquefied natural gas (LNG) project.The company’s shares decreased 2.7% yesterday, ending the trading session at $150.10.

Inside the Headlines

The proposed Cedar LNG project is a floating LNG (FLNG) facility based in Kitimat, British Columbia, within the traditional territory of Haisla Nation. The project is designed to produce low-carbon Canadian LNG at a competitive cost for overseas markets by leveraging Canada’s ample resource of natural gas and British Columbia’s solid LNG infrastructure.Per the deal, Chart Industries will supply key liquefaction equipment including the natural gas liquefaction cold boxes and brazed aluminum heat exchangers to the facility. This marks GTLS’ one of the biggest LNG, FLNG and small-scale LNG contracts in recent years.Apart from helping to reduce carbon emissions, the Cedar LNG project will also support Haisla Nation’s economic and social development.