Benzinga | Mar 16, 2021 08:49AM EDT

Chart Industries Says Receives $47M LNG Liquefaction Order From New Fortress Energy

Chart Industries, Inc. ("Chart") (NYSE:GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and energy industries, has received Notice to Proceed on the engineering work for New Fortress Energy's ("NFE") (NASDAQ:NFE) mid-scale 1.4 MTPA LNG offshore liquefaction project.



The project is expected to be completed by the end of 2022. Chart's content totals $47 million and includes our patented ISPMR(r) process technology, brazed aluminum heat exchangers, cold boxes, heavy hydrocarbon removal system and air-cooled heat exchangers, in addition to other pertinent equipment and engineering.

"We are excited to partner with New Fortress Energy on this unique, first-of-a-kind offshore liquefaction system," stated Jill Evanko, Chart's President and CEO. "NFE continues to be an industry leader with a strategic approach to the clean energy transition and the entire value chain."