ExxonMobil Selects Chart Industries’ IPSMR® Liquefaction Process Technology and Proprietary Equipment
ExxonMobil, representing Mozambique Rovuma Venture (MRV), has chosen Chart Industries' (NYSE: GTLS) IPSMR® liquefaction technology and proprietary equipment for the Rovuma LNG project located at the Afungi peninsula in Mozambique. The project will produce, liquefy, and market natural gas from the Area 4 block in the offshore Rovuma Basin. It includes constructing 12 modules, each with a capacity of 1.5 MTA, totaling 18 million tonnes annually, alongside associated onshore facilities. This selection aims to enhance project competitiveness, reliability, and reduce GHG emissions. MRV is a joint venture owned by ExxonMobil, Eni, and CNPC, holding a 70% interest in Area 4, with ENH, KOGAS, and Galp each holding 10%.
ExxonMobil, rappresentando il Mozambique Rovuma Venture (MRV), ha scelto la tecnologia di liquefazione IPSMR® di Chart Industries (NYSE: GTLS) e attrezzature proprietarie per il progetto Rovuma LNG situato nella penisola di Afungi in Mozambico. Il progetto produrrà, liquefarrà e commercializzerà gas naturale dal blocco Area 4 nel Bacino Rovuma offshore. Include la costruzione di 12 moduli, ciascuno con una capacità di 1.5 MTA, per un totale di 18 milioni di tonnellate all'anno, insieme a strutture a terra associate. Questa scelta mira a migliorare la competitività del progetto, l'affidabilità e a ridurre le emissioni di gas serra. MRV è una joint venture di proprietà di ExxonMobil, Eni e CNPC, che detiene una partecipazione del 70% nell'Area 4, mentre ENH, KOGAS e Galp detengono ciascuna il 10%.
ExxonMobil, representando Mozambique Rovuma Venture (MRV), ha elegido la tecnología de licuefacción IPSMR® de Chart Industries (NYSE: GTLS) y equipos propios para el proyecto Rovuma LNG ubicado en la península de Afungi en Mozambique. El proyecto producirá, licuará y comercializará gas natural del bloque Área 4 en la cuenca Rovuma offshore. Incluye la construcción de 12 módulos, cada uno con una capacidad de 1.5 MTA, totalizando 18 millones de toneladas anuales, junto con instalaciones en tierra asociadas. Esta selección busca mejorar la competitividad del proyecto, la fiabilidad y reducir las emisiones de gases de efecto invernadero. MRV es una empresa conjunta perteneciente a ExxonMobil, Eni y CNPC, que posee un interés del 70% en el Área 4, mientras que ENH, KOGAS y Galp poseen cada uno el 10%.
엑슨모빌(ExxonMobil)은 모잠비크 로부마 벤처(Mozambique Rovuma Venture, MRV)를 대표하여 차트 인더스트리(Chart Industries)의 IPSMR® 액화 기술과 독자 장비를 모잠비크 아푼기 반도에 위치한 로부마 LNG 프로젝트에 선택했습니다. 이 프로젝트는 로부마 해역의 4번 구역에서 천연가스를 생산, 액화 및 판매할 것입니다. 연간 1800만 톤의 용량을 갖춘 12개의 모듈을 건설하며, 이와 함께 온shore 시설도 포함됩니다. 이 선택은 프로젝트의 경쟁력 및 신뢰성을 높이고 온실가스 배출량을 줄이는 것을 목표로 하고 있습니다. MRV는 엑슨모빌, 에니(Eni), CNPC가 소유한 합작투자 회사로, 4번 구역에서 70%의 지분을 보유하고 있으며, ENH, KOGAS, Galp가 각각 10%의 지분을 보유하고 있습니다.
ExxonMobil, représentant le Mozambique Rovuma Venture (MRV), a choisi la technologie de liquéfaction IPSMR® de Chart Industries (NYSE: GTLS) et des équipements propriétaires pour le projet Rovuma LNG situé sur la péninsule d'Afungi au Mozambique. Ce projet produira, liquéfiera et commercialisera du gaz naturel du bloc Area 4 dans le bassin Rovuma offshore. Il inclut la construction de 12 modules, chacun ayant une capacité de 1,5 MTA, totalisant 18 millions de tonnes par an, ainsi que des installations onshore associées. Ce choix vise à renforcer la compétitivité et la fiabilité du projet, tout en réduisant les émissions de gaz à effet de serre. MRV est une coentreprise détenue par ExxonMobil, Eni et CNPC, détenant un intérêt de 70% dans l'Area 4, tandis qu'ENH, KOGAS et Galp détiennent chacun 10%.
ExxonMobil, das Mozambique Rovuma Venture (MRV) repräsentiert, hat die IPSMR®-Liquefactionstechnologie und das proprietäre Equipment von Chart Industries (NYSE: GTLS) für das Rovuma LNG-Projekt an der Afungi-Halbinsel in Mosambik ausgewählt. Das Projekt wird Erdgas aus dem Block Area 4 im Offshore Rovuma Basin produzieren, verflüssigen und vermarkten. Es umfasst den Bau von 12 Modulen, von denen jedes eine Kapazität von 1,5 MTA hat, was einer Gesamtmenge von 18 Millionen Tonnen jährlich entspricht, sowie die dazugehörigen Onshore-Anlagen. Diese Auswahl zielt darauf ab, die Wettbewerbsfähigkeit und Zuverlässigkeit des Projekts zu verbessern und die Treibhausgasemissionen zu reduzieren. MRV ist ein Joint Venture, das ExxonMobil, Eni und CNPC gehört und 70% des Anteils an Area 4 hält, während ENH, KOGAS und Galp jeweils 10% halten.
- Selection of Chart Industries' IPSMR® technology for the Rovuma LNG project, enhancing project competitiveness and reliability.
- Expected reduction in GHG emissions due to the use of IPSMR® technology.
- Large-scale project with an annual capacity of 18 million tonnes of LNG.
- None.
Insights
The selection of Chart Industries' IPSMR® technology for ExxonMobil's Rovuma LNG project is a significant win for Chart. This massive project, with a capacity of
This deal likely translates to a considerable revenue boost for Chart Industries over the coming years. Large-scale LNG projects typically involve long-term contracts and can provide steady cash flow. Moreover, the high-profile nature of this project with ExxonMobil could lead to additional contracts in the future, as it validates Chart's technology on a global stage.
For investors, this news signals strong growth potential in Chart's LNG business segment. It also demonstrates the company's competitive edge in providing innovative solutions for major industry players. However, it's important to note that large projects like these can be subject to delays or geopolitical risks, especially in regions like Mozambique.
The adoption of Chart's IPSMR® technology for the Rovuma LNG project highlights a important trend in the LNG industry: the push for more efficient and environmentally friendly processes. ExxonMobil's decision to use this technology, which promises lower GHG emissions, reflects the growing pressure on energy companies to reduce their carbon footprint.
This move could potentially set a new standard for future LNG projects globally. As countries and companies strive to meet climate goals, technologies that offer improved efficiency and reduced emissions will likely see increased demand. For Chart Industries, this positions them as a leader in sustainable LNG solutions, potentially opening doors to more contracts in an increasingly environmentally conscious market.
Investors should view this as a positive indicator of Chart's long-term prospects in the evolving energy landscape. The company's ability to provide solutions that address both production efficiency and environmental concerns could become a significant competitive advantage as the industry continues to prioritize sustainability.
ATLANTA, Oct. 04, 2024 (GLOBE NEWSWIRE) -- ExxonMobil – on behalf of Mozambique Rovuma Venture (MRV), operator of the Area 4 concession in northern Mozambique’s Rovuma Basin – announces its strategic decision to select Chart Industries' (NYSE: GTLS) (“Chart”) IPSMR® liquefaction technology and proprietary equipment for the Rovuma LNG project at the Afungi peninsula.
The Rovuma LNG Project will produce, liquefy and market natural gas from reservoirs of the Area 4 block of the offshore Rovuma Basin and includes the construction of 12 modules of 1.5 MTA each, with a total LNG capacity of 18 million tonnes annually, as well as associated onshore facilities. The selection of Chart IPSMR® for the 12 liquefaction modules is expected to help enable increased project competitiveness, improved reliability and lower GHG emissions.
“We are excited to partner with ExxonMobil for the utilization of our IPSMR® technology and associated equipment for their Rovuma LNG project in Mozambique,” said Jill Evanko, CEO and President of Chart Industries. “We thank ExxonMobil’s engineering and project teams for their efforts in advancing the use of IPSMR® in the international LNG industry.”
MRV is an incorporated joint venture owned by ExxonMobil, Eni and CNPC, and holds a 70 percent interest in Area 4. The remaining Area 4 participants are ENH (
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 ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions – provide products that enable modern life, including energy, chemicals, lubricants, and lower emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants, and chemical companies in the world. ExxonMobil also owns and operates the largest CO2 pipeline network in the United States. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20
With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050. To learn more, visit exxonmobil.com and ExxonMobil’s Advancing Climate Solutions.
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Investor Relations Contact – Chart Industries:
John Walsh
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john.walsh@chartindustries.com
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FAQ
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