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NEWS RELEASE CHART INDUSTRIES SELECTED BY OVERSEAS BECHTEL, INC TO SUPPLY HEAT EXCHANGERS Cleveland, OH – April 7, 2005 – Chart Industries, Inc. (OTC: CIDI.ODB) Energy and Chemicals Group received a significant order including Cold Boxes, Core-In-Kettle® and brazed aluminum plate fin heat exchangers (BAHX) from Bechtel Inc. The equipment will be used at E.G. Liquefied Natural Gas (LNG) Train 1 located on Bioko Island, Equatorial Guinea. Marathon and its partner in the E.G. LNG Train 1 Plant, GEPetrol, the National Oil Company of Equatorial Guinea, expect project construction to be complete in late 2007. When completed, the project is expected to be one of the lowest cost LNG operations in the Atlantic basin. The plant is committed to delivering 3.4 million metric tons of LNG per year, over the next 17 years, to BG Gas Marketing Ltd. Bechtel is the selected EPC with construction costs reported to be in the range of $1 billion. Chart's equipment is designed for use in the ConocoPhillips LNG Process (formerly referred to as the Phillips Optimized Cascade LNG Process). Chart's total scope of work for this project is on par with the four LNG liquefaction Trains in Point Fortin, Trinidad, also based on the ConocoPhillips LNG Process, which were successfully completed with Bechtel. These projects included the largest cold boxes ever shop-assembled and shipped. The magnitude, complexity and critical nature of the work scope dictated an exceptionally high degree of expertise in LNG processing applications. Chart has a long and successful track record in the world’s most demanding applications. Technology acquisitions over the last twenty years have provided depth and breadth to Chart’s LNG equipment manufacturing capabilities. Bechtel placed the order with Chart in January 2004 and the equipment is on schedule for delivery during the fourth quarter of 2005. The BAHX’s are being manufactured at Chart's heat exchanger facility in La Crosse, WI and will be transported to New Iberia, LA for installation into cold boxes also fabricated by Chart. The packaged units are designed to ship directly from Chart's New Iberia facility to the jobsite. About Bechtel Bechtel provides premier technical, management, and directly related services to develop, manage, engineer, build, and operate installations for customers worldwide. About Chart Contact:
For additional information regarding these or other Chart press releases, please contact our Corporate Executive Offices at 440-753-1490. |
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