SEA\LNG, the multi-sector industry coalition accelerating the widespread adoption of liquified natural gas announced on Wednesday (Nov20) that Chart Industries (Chart; NASDAQ: GTLS) has joined the membership.
Peter Keller, SEA\LNG chairman, commented: “We are thrilled to welcome another member from North America. Chart is a highly respected equipment and solution provider working across the LNG value chain and we look forward to working together with a company that is at the heart of the energy revolution.”
Chart is a key equipment and systems provider to applications that utilise clean burning, economical natural gas. The liquefaction technology that is used includes specialised heat exchangers, cryogenic storage and delivery expertise to support global LNG infrastructure, including small-scale LNG for transportation, marine and power generation. Chart continues to help the marine sector meet the challenge of IMO 2020, building its first bunkering station in 2003 and more recently completing terminals in Klaipeda and Jacksonville, Florida. Their fuel systems are onboard multiple LNG powered vessels, including the Francisco high speed ferry and various fleets of barges.
Jill Evanko, President and Chief Executive Officer at Chart said: “Chart LNG systems not only offer innovative solutions for marine applications, they provide green energy to ships during port layovers, improving air quality in the local area. As members of SEA\LNG, we expect to further enhance LNG as a commercially viable and environmentally sound marine fuel for 2020 and beyond, while contributing to a cleaner future for the communities in which our equipment and solutions are used.”
SEA\LNG continues to bring together key players in the marine value chain, including shipping companies, classification societies, ports, major LNG suppliers, LNG bunkering companies, infrastructure providers and OEMs (original equipment manufacturers), to advance cooperation and communication on key areas. The recent appointment of Chart will bring the coalition a stronger perspective on infrastructure and emissions.
Through collaboration with its members, independent consultants and academic experts, SEA\LNG has produced verified studies detailing the significant economic and environmental benefits of LNG as a marine fuel, including the definitive Life Cycle GHG Emissions Study on the Use of LNG as Marine Fuel, commissioned in partnership with the Society for Gas as a Marine Fuel (SGMF) and conducted by independent consultancy thinkstep. The final study concluded that LNG provides carbon emissions reductions of up to 21% compared to current oil-based marine fuels across the entire life cycle from Well-to-Wake (WtW).
Further, SEA\LNG’s study comparing nine alternative fuels, undertaken by leading classification society DNV GL, reinforced the fact that LNG is the most mature, scalable, and commercially viable alternative fuel currently available for the maritime industry.
Since launching in July 2016, SEA\LNG’s membership has grown from 13 to 39 members. This reflects the industry’s growing recognition of LNG as the only safe, scalable, cost effective and pragmatic pathway to a zero-emissions shipping industry.