Chart Energy & Chemicals has signed a mid-scale LNG liquefaction technology and equipment supply agreement with Toyo Engineering Corporation.

Chart Industries, Inc. has announced that its wholly-owned subsidiary, Chart Energy & Chemicals, Inc. (Chart E&C), has signed a cooperation agreement with Toyo Engineering Corporation (TOYO) of Japan to jointly pursue certain mid-scale liquefied natural gas (LNG) opportunities.

For those opportunities that Chart E&C and TOYO agree to pursue, Chart E&C will provide the LNG liquefaction process technology, including integrated natural gas liquids (NGL) and nitrogen rejection technology as appropriate, together with equipment including brazed aluminum heat exchangers, cold boxes and air cooled heat exchangers. TOYO will provide overall Engineering, Procurement and Construction (EPC) services as well as project management.

$quot;This Agreement with Toyo Engineering Corporation broadens Chart E&C's value proposition as a leader in mid-scale LNG technology and supplier of highly engineered cryogenic equipment, such as brazed aluminum heat exchangers, modular LNG units and other gas processing equipment to the emerging mid-scale LNG market,” commented Michael Bright, President of Chart Energy & Chemicals, Inc.

“It also complements our long-standing critical liquefaction equipment supply relationships for base-load LNG plants. I am excited by the opportunities this cooperation promises to bring to Chart E&C and look forward to a long-term, mutually beneficial relationship with TOYO and to the delivery of many successful projects to our mid-scale LNG customers.$quot;

Yutaka Yamada, President and CEO of TOYO, was excited about the collaboration, he said, $quot;Mid-scale LNG is one of the important options available for developing small- to medium-size gas fields and coal bed methane (CBM), which has recently been highlighted as a recoverable energy resource. Chart's LNG technology, employing the single mixed refrigerant (SMR), is a very simple process solution requiring less capital and hence lower business risk, less equipment and hence a smaller footprint, leading to a shorter EPC schedule, all of which are economically attractive for the smaller gas fields.”

“TOYO and Chart E&C also agreed to jointly explore opportunities in the field of Floating-LNG.$quot;