Chart and Flowserve see chance in LNG and nuclear

Alongside conventional industrial gas synergies and opportunities, a key reason behind the $19bn merger of Chart Industries and Flowserve is that it provides potential growth in diverse end-markets.

These include a raft of LNG and nuclear openings, encompassing the ‘full lifecycle’ of design, engineering, construction and installation, performance, and aftermarket services.

Essentially, as with most mergers, the union allows both companies to fill in important portfolio gaps.

In terms of LNG system configurations, while Chart offers a range of compressors, vaporisers and LNG condensers, Flowserve’s portfolio includes sea water pumps and high-pressure pumps.

And with nuclear, Flowserve’s circulation, feed water and recirculation pumps are now complemented by Chart’s steam turbines, air-cooled steam condensers and reactor pressure vessels.

Source: Chart Industries

When you look at the combined portfolio – Flowserve’s pumps, valves, actuation, flow systems and seals, complemented by Chart’s thermal portfolio comprising compressors, turboexpanders, fans, air cooled heat exchangers, cold boxes, mobile equipment and cryogenic bulk storage tanks – it does look a comprehensive offering.

Chart signed a global master goods and services agreement in January to supply oil and gas major ExxonMobil with LNG equipment, technology, and services.

Chart and Exxon are developing an initial LNG project design and will build several follow-up concepts to optimise global facilities.

One notable LNG contract secured by Chart in 2024 was the Rovuma LNG Project in Mozambique, operated by a joint venture between ExxonMobil, Eni, and China National Petroleum Corporation (CNPC), in which Chart is building 12 liquefaction modules.

Another highlight was the opening of its Teddy 2 facility, Chart’s second manufacturing facility in Theodore, Alabama, in March 2024.

The plant manufactures the world’s largest shop-built cryogenic tanks, with capacities up to 1,700 cbm, serving industries such as energy, aerospace, marine, and power.

Last year Flowserve bought the intellectual property and in-process R&D related to cryogenic LNG submerged pump technology, systems and packaging from NexGen Cryogenic Solutions, a privately held, Arizona-based company specialising in the engineering, design and testing of LNG pumps and turbines.

Scott Rowe, Flowserve’s President and CEO, said, “LNG provides a resilient pathway to energy transition. As we continue advancing our 3D growth strategy to diversify, decarbonise and digitise, this technology acquisition will strengthen our decarbonisation offerings across the LNG value chain.”