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Chart Industries to equip Cedar LNG project

ATLANTA – Chart Industries , Inc. (NYSE: NYSE:), a prominent player in the clean energy and industrial gas sectors, has secured a contract to provide essential liquefaction equipment for the Cedar liquefied (LNG) project.

This initiative, a collaboration between the Haisla Nation and Pembina Pipeline (NYSE:) Corporation, is a significant step in the Haisla Nation’s journey to directly engage in major industrial developments within their territory.

The order, placed by engineering, procurement, and construction company Black & Veatch, includes the supply of natural gas liquefaction cold boxes and brazed aluminum heat exchangers. Black & Veatch, a leader in floating LNG solutions, has a long-standing partnership with Chart Industries.

This development is part of a series of LNG projects that Chart has been involved with, highlighting its continued presence in the industry. The Cedar LNG project is seen as a move towards reducing carbon emissions by providing lower-carbon LNG facilities, which are in demand by customers seeking alternatives to more carbon-intensive feedstocks.

Jill Evanko, CEO and President of Chart, expressed pride in the company’s role in providing ‘Nexus of Clean’ solutions, which encompass clean power, water, food, and industrials. The Cedar LNG project aligns with this vision and supports the Haisla Nation’s economic and social development goals.

In early April 2024, Pembina and its project partners announced the progression of the Cedar LNG export project, including securing binding offtake agreements. The project represents a meaningful step in the direction of decarbonization and supports the Haisla Nation’s initiatives.

Chart Industries is known for its comprehensive range of products and solutions for gas and liquid molecule handling, serving various phases of the liquid gas supply chain. With a commitment to environmental, social, and governance (ESG) excellence, the company operates 64 global manufacturing locations and over 50 service centers.

This announcement is based on a press release statement from Chart Industries.

InvestingPro Insights

Chart Industries’ involvement in the Cedar LNG project not only underscores its commitment to clean energy but also reflects positively on its financial metrics and market position. With a robust market capitalization of $5.52 billion, Chart Industries is a significant player in the industrial gas sector. The company’s strong revenue growth over the last twelve months, at an impressive 107.92%, indicates a solid expansion in its business operations.

InvestingPro data shows Chart Industries’ stock has experienced a strong return over the last three months, with an 18.57% price total return, signaling investor confidence in the company’s growth trajectory. Despite trading at a high earnings multiple with a P/E ratio of 51.67, the company’s profitability over the last twelve months and analysts’ expectations of net income growth this year suggest that Chart is positioning itself for sustainable financial performance.

InvestingPro Tips reveal that analysts have revised their earnings downwards for the upcoming period, which could be a point of consideration for investors. However, the company’s profitability and expected sales growth in the current year remain key factors that could drive investor interest. For those looking to delve deeper into Chart Industries’ financials and future prospects, InvestingPro offers additional insights and tips. There are 9 more InvestingPro Tips available for Chart Industries, which can be accessed at Investing.com/pro/GTLS. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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