CLEVELAND, July 30, 2013 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (Nasdaq:GTLS) , a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases, today announced that Noble Energy, Inc. ("Noble Energy") has awarded Chart's wholly-owned subsidiary, Chart Energy & Chemicals, Inc. ("Chart E&C"), a contract to provide a processing facility to produce approximately 100,000 gallons of liquefied natural gas ("LNG") per day. The facility will be fully integrated with a new gas processing plant to be located in northern Weld County, Colorado. The plant, which is expected to be fully operational by the end of 2014, will service Noble Energy's northern Colorado operations in the DJ Basin.
Chart E&C's range of standard LNG plants are complete package solutions for the liquefaction of natural gas and feature Chart E&C's proprietary liquefaction technology. Key equipment packages, comprised of brazed aluminum heat exchangers, cold boxes, storage tanks and load-out facilities, are designed in-house, and manufactured and fabricated in Chart's facilities. These standard plants allow for a fast-track schedule and earlier commencement of LNG production. The C100N plant selected by Noble Energy will provide a robust, flexible LNG plant using a wide range of feed gas compositions.
"We are delighted that a world-class company like Noble Energy has selected our plant solution. We share a commitment to delivering a cost-efficient, safe alternative to diesel and other distillate fuels" commented Mike Durkin, President of Chart E&C.Certain statements made in this news release are, or imply forward-looking statements, such as statements concerning business plans, objectives, market trends, future revenue, performance, and other information that is not historical in nature. These statements are made based on Chart's expectations concerning future events and are subject to factors and uncertainties that could cause actual results to differ materially, such as cyclicality of product markets and vulnerability of markets to economic downturns, a delay or reduction in customer purchases, competition, fluctuations in energy prices or changes in government energy policy, management of fixed-price contract exposure, reliance on the availability of key supplies and services, pricing and availability of raw materials, and modification or cancellation of customer contracts. For a discussion of these and additional factors that could cause actual results to differ from forward-looking statements, see Chart's filings with the Securities and Exchange Commission, including Item 1A - Risk Factors, of Chart's most recent Annual Report on Form 10-K. Chart undertakes no obligation to update or revise any forward-looking statement.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts