Chart Energy & Chemicals, Inc. (Chart E&C), a wholly-owned subsidiary of Chart Industries, Inc., has entered into a cooperation agreement with Toyo Engineering Corporation (Toyo Engineering) to jointly study certain mid-scale liquefied natural gas (LNG) opportunities.
For those opportunities that Chart E&C and Toyo Engineering 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.
“This Agreement with Toyo Engineering 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. It also complements our long-standing critical liquefaction equipment supply relationships for base-load LNG plants,” said Michael Bright, president of Chart E&C. “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 Engineering and to the delivery of many successful projects to our mid-scale LNG customers.”
Yutaka Yamada, president and chief executive officer of Toyo Engineering, was understandably excited with the collaboration, stating “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 Engineering and Chart E&C also agreed to jointly explore opportunities in the field of Floating-LNG. In addition to Toyo Engineering’s existing business lines that include ammonia, methanol, DME (Dimethyl-ether) and the micro-GTL (gas to liquids) process that is currently under development, Toyo Engineering can offer a range of solutions for the utilization of stranded natural gas resources by adding this mid-scale LNG option to the company’s business line.”