Bechtel and Woodside Place Woodside Louisiana LNG Phase 1 Order to Chart Industries

Rhea-AI Summary

Chart Industries (NYSE: GTLS) has secured an order from Bechtel to provide IPSMR® liquefaction technology and cold boxes for Phase 1 of Woodside Energy's Louisiana LNG development. The project, formerly known as Driftwood LNG, will include two LNG plants with 16 cold boxes, supporting 11 MTPA of production. Each plant will feature four Heavies Removal Cold Boxes and four LNG Liquefaction Cold Boxes. The order, awarded in December 2024, will utilize Chart's energy-efficient IPSMR® process to support Woodside's clean energy initiatives.

Positive

• Secured major contract for Louisiana LNG Phase 1 development
• Project scope includes 16 cold boxes for 11 MTPA production capacity
• Strategic partnership with industry leaders Bechtel and Woodside

Negative

• None.

Insights

Energy Infrastructure Analyst

<p>The <b>$8B market cap</b> Chart Industries has secured a major LNG equipment order that significantly strengthens its position in the growing US LNG export infrastructure market. The contract to supply <b>16 cold boxes</b> for <b>11 MTPA</b> of production capacity represents one of the largest single orders for Chart's IPSMR® technology. While the exact order value isn't disclosed, based on similar projects, this could represent <money>$200-300 million</money> in revenue potential.</p><p>The Louisiana LNG project (formerly Driftwood) is strategically important as it adds to the growing US Gulf Coast LNG export capacity amid strong global demand. Chart's proprietary IPSMR® technology offers superior efficiency compared to traditional cascade processes, potentially reducing power consumption by <percent>8-12%</percent>. This technological advantage positions Chart favorably for future LNG infrastructure projects globally.</p>

Industrial Technology Specialist

<p>The selection of Chart's IPSMR® technology by industry leaders Bechtel and Woodside validates its technical superiority in the LNG liquefaction space. The modular design of Chart's cold boxes enables faster installation and reduced on-site construction time, critical for large-scale LNG projects. Each cold box set (Heavies Removal and LNG Liquefaction) represents an integrated solution that optimizes the liquefaction process through enhanced heat exchange efficiency.</p><p>This order strengthens Chart's <b>intellectual property portfolio</b> and demonstrates the commercial scalability of their technology. The company's ability to secure this contract for Phase 1 positions them favorably for potential follow-on orders in subsequent phases, creating a multi-year revenue opportunity pipeline.</p>

ATLANTA, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a global leader in clean energy and industrial gas solutions, has received the order from Bechtel for the supply of our Integrated Pre-Cooled Single Mixed Refrigerant (“IPSMR®”) liquefaction technology and cold boxes for Phase 1 of Woodside Energy Group Ltd’s (ASX: WDS; NYSE: WDS) (“Woodside”) Louisiana LNG development opportunity. Louisiana LNG is owned and operated by Woodside and managed by Bechtel Energy Inc. (“Bechtel”), as the EPC contractor, is located in Louisiana, USA and was previously known as the Driftwood LNG project.

Under the order awarded in December 2024, Chart will support Phase 1 of Louisiana LNG by providing two LNG plants comprising 16 cold boxes in total for 11 MTPA of production. Each LNG plant includes four Heavies Removal Cold Boxes and four LNG Liquefaction Cold Boxes.

Chart’s IPSMR® process, renowned for its energy efficiency and reliability, will provide a critical component of the liquefaction technology, supporting Woodside Energy’s mission to deliver cleaner energy solutions.

“We are proud to partner with Bechtel and Woodside on this significant LNG project,” said Jill Evanko, CEO and President of Chart Industries. “Our IPSMR® technology and associated equipment will play a key role in supporting Woodside’s LNG production on schedule, delivering both efficiency and sustainability to meet global energy needs.”

About Chart Industries

Chart Industries, Inc. is a global leader in the design, engineering, and manufacturing of process technologies and equipment for gas and liquid molecule handling for the Nexus of Clean™ – clean power, clean water, clean food, and clean industrials, regardless of molecule. The company’s unique product and solution portfolio across stationary and rotating equipment is used in every phase of the liquid gas supply chain, including engineering, service and repair and from installation to preventive maintenance and digital monitoring. Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 capture amongst other applications. Chart is committed to excellence in environmental, social and corporate governance (ESG) issues both for its company as well as its customers. With 64 global manufacturing locations and over 50 service centers from the United States to Asia, Australia, India, Europe and South America, the company maintains accountability and transparency to its team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com.

About Woodside Energy

Woodside Energy is a global energy company. Driven by a spirit of innovation and determination, the company established the liquefied natural gas industry in Australia in the 1980s. Woodside provides the energy the world needs to heat homes, keep the lights on and support industry. Today, Woodside’s strategy is to thrive through the energy transition with a resilient and diversified portfolio of oil, gas and new energy projects in Australia, North America and Africa. In the United States, Woodside is progressing the Louisiana LNG development and the Beaumont Clean Ammonia Project. In Mexico, Woodside is progressing the Trion oil project and has an offtake agreement with Mexico Pacific Limited. The company also has operated and non-operated oil and gas assets in the Gulf of Mexico and the Caribbean.

About Bechtel

Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.  

Bechtel serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment, through start-up and operations. www.bechtel.com.

Investor Relations Contact – Chart Industries:

John Walsh
SVP, Investor and Government Relations
770-721-8899
john.walsh@chartindustries.com

FAQ

What is the production capacity of Chart Industries' Louisiana LNG Phase 1 project?

The Louisiana LNG Phase 1 project will have a production capacity of 11 MTPA (Million Tonnes Per Annum) across two LNG plants.

How many cold boxes will Chart Industries (GTLS) supply for the Louisiana LNG project?

Chart Industries will supply a total of 16 cold boxes, with each of the two LNG plants receiving four Heavies Removal Cold Boxes and four LNG Liquefaction Cold Boxes.

When was the Louisiana LNG contract awarded to Chart Industries (GTLS)?

The contract was awarded to Chart Industries in December 2024.

What technology will Chart Industries (GTLS) use in the Louisiana LNG project?

Chart Industries will use their Integrated Pre-Cooled Single Mixed Refrigerant (IPSMR®) liquefaction technology for the project.

Was the Louisiana LNG project previously known by a different name?

Yes, the Louisiana LNG project was previously known as the Driftwood LNG project.