Chart booked record LNG equipment orders in 2022

US-based Chart Industries booked a record number of LNG orders for its equipment in 2022, and the firm is expecting to secure more orders for large-scale LNG projects this year.

Chart won in total orders worth $2.78 billion last year, including three big LNG orders (greater than 5 mtpa) worth a total of $620.7 million, the firm said in its quarterly and 2022 report.

“2022 was the first time in our history that we booked multiple big LNG projects in the same year, with three consecutive quarters (first through third quarters 2022) having big LNG bookings,” it said.

These orders include $135.5 million for the first phase of Venture Global LNG’s Plaquemines LNG export plant and $137.2 for the second stage of the same project, according to Chart.

In addition, the firm booked orders for its IPMSR process and equipment activities worth $348 million for the expansion project at Cheniere’s Corpus Christi LNG export plant in Texas.

Besides these deals, Chart booked orders for a total of 12 floating LNG, small-scale LNG, and hydrogen liquefaction systems and associated equipment.

These include contracts for New Fortress Energy’s floating LNG production projects for FastLNG2 and 3, FastLNG4, and FastLNG5 worth some $178 million.

New orders in 2023

To start 2023, Chart received an order for $115 million for its IPSMR liquefaction systems from China’s Wison Heavy Industry, as well as an order for brazed aluminum heat exchangers into a floating LNG application for $19.5 million, it said.

Eni awarded a contract to Wison to build an FLNG producer in December last year and the 380 meters long 2.4 mtpa FLNG will have 60 meters in breadth and 35 meters in draft.

To mark the construction start, Wison (Nantong) Heavy Industry, a unit of Wison Offshore & Marine, held a steel-cutting ceremony on January 17 for the Eni Marine XII Congo LNG project.

“We anticipate big LNG, small-scale LNG, and FLNG demand to continue in 2023, and while no additional big LNG orders are included in our 2023 outlook, we currently anticipate more than one project to move to final investment decision (FID), with one expected in the first half 2023,” Chart said.

Chart’s chief Jillian Evanko told analysts during the company’s earnings call that the firm expects to book “more than one big LNG order in 2023.”

“I don’t think, in total, that it will be $620 million, but it certainly is expected to be in the hundreds of millions of dollar sizes for the big LNG orders that we expect this year,” she said.

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