Chart Industries and GasLog Partner on Large Scale Liquid Hydrogen Deployment
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Insights
Exploring the collaboration between Chart Industries and GasLog LNG Services Ltd. in developing a liquid hydrogen (LH2) supply chain is a testament to the evolving energy landscape. As the global economy leans towards cleaner energy sources, this partnership signifies a strategic pivot for both companies and could have a ripple effect on the energy sector.
Chart Industries brings over a century of experience in hydrogen technologies, which is critical given the complex nature of LH2 handling and distribution. Their expertise in cryogenics will be pivotal in ensuring the safe and efficient transport of LH2. GasLog's move from focusing on LNG to LH2 indicates a diversification strategy that aligns with global decarbonization goals.
For investors, this indicates potential new revenue streams and a stronger foothold in the clean energy market for both companies. It's also a sign that the industry is betting on hydrogen as a key component of the energy mix, which could lead to increased investment in related infrastructure and technologies.
The shift to LH2 from traditional fossil fuels could have significant environmental implications. Hydrogen is often touted as a zero-emission fuel when produced from renewable sources and its adoption can substantially reduce greenhouse gas emissions.
However, the environmental impact of LH2 supply chains will depend on the methods used for hydrogen production. If the hydrogen is produced using green methods, such as electrolysis powered by renewable energy, the benefits are maximized. Conversely, if it's derived from natural gas via steam methane reforming without carbon capture, the environmental benefits are less clear.
The policy landscape will likely evolve to support such clean energy initiatives, potentially through subsidies or regulations that favor low-carbon technologies. This could enhance the viability and scalability of LH2 projects and drive broader industry adoption.
Developing a commercial scale LH2 supply chain is a complex endeavor that requires innovation in logistics and supply chain management. Chart Industries and GasLog's collaboration will need to address challenges such as specialized storage, transportation safety and maintaining LH2 at extremely low temperatures.
The transition from discussions around ammonia to LH2 supply chains illustrates a strategic shift in focus to more efficient energy carriers. LH2 has a higher energy density than ammonia, which could mean more efficient storage and transport, albeit with increased technical challenges.
The successful implementation of such a supply chain could set a precedent for future energy transportation, potentially creating a blueprint for other companies to follow. It's an indicator of innovation within the supply chain sector, which could lead to improved processes and standards across the industry.
ATLANTA, March 20, 2024 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a leading global solutions provider to clean energy and industrial gas markets, announced its collaboration with GasLog LNG Services Ltd., a leading provider of liquefied natural gas (LNG) shipping services, to study the development of a commercial scale liquid hydrogen (LH2) supply chain leveraging GasLog’s latest developments of a liquid hydrogen vessel and Chart’s extensive experience in cryogenics and large-scale liquefaction solutions for the global distribution of LH2.
This collaboration aims to support GasLog’s participation in recently announced projects to develop a commercial scale LH2 supply chain from export markets in the Middle East to European and Asian destinations for onward distribution by liquid transportation and/or gas via pipelines to various end users.
Chart will leverage its over 158 years of hydrogen experience for this collaboration through hydrogen compression, liquefaction and refrigeration technologies, and cryogenic loading/unloading operations, amongst other products.
CEO of GasLog, Paolo Enoizi, said “This collaboration with Chart Industries is our commitment to explore and support the use of hydrogen, via liquid form, to benefit industries and users globally. I have confidence that our combined experience from the cryogenic industries will ensure the safety and efficiency of novel liquid hydrogen supply chains across the world.”
“We are excited to collaborate with GasLog for effective large scale LH2 supply chain deployment,” stated Jill Evanko, CEO and President of Chart Industries. “We see a significant momentum shift from export developers discussing ammonia supply chains twelve months ago to LH2 supply chains today.”
About Chart Industries, Inc.
Chart Industries, Inc. is an independent 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 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 GasLog Ltd.
GasLog LNG Services Ltd., a wholly owned subsidiary of GasLog Ltd., is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog’s consolidated fleet consists of 37 LNG carriers (32 on the water, four under construction and one vessel as a floating storage and regasification unit, or “FSRU”, under commissioning). For more information, visit www.gaslogltd.com.
Investor Contact – Chart Industries:
John Walsh
VP, Investor Relations
770-721-8899
john.walsh@chartindustries.com
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