Chart to Provide LNG Equipment for Project in China
Chart Industries Inc.’s Distribution & Storage (D&S) Asia business has entered into a strategic supply agreement to provide Shandong Hanas New Energy Co. Ltd. (Hanas) equipment for 50 permanent liquefied natural gas (LNG) fuel stations, including installation and commissioning of this equipment, over the next 30 months.
Chart will be the exclusive supplier of permanent LNG fuel stations to Hanas during the agreement period and expects one-third of the total number of stations will be ordered in 2014. Nanjing Xinye, a Chart company in China, will provide the fuel station dispensers, incorporating Chart’s latest proprietary flow metering technology.
According to Tom Carey, president of Chart’s D&S Group, the agreement could surpass $35 million.