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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (176681)	3/3/2013 11:37:15 PM
From: t4texas	2 Recommendations Read Replies (1) \| Respond to of 206160

gtls, chart industries, conf call says the growth ramp in lng equipment is stronger in china than in north america -- a surprise to me. it says there are a lot of engine choices in china for ng. E&C is energy and chemical, and is a division of chart industries. once again i will add that this transcript blurb may have some buggy language due to very likely a non-native english speaker/listener doing the transcribing of the conf call. (clearly in tax below should be intact. also i believe phase below should be pace.) E&C is also benefiting from the LNG build out in China, supply immediate liquefaction equipment to drive LNG production there. With respect to distribution in storage, fourth quarter orders of $151 million represent 25% sequential growth and a new quarterly record for this group. Orders were especially strong in Asia, led by the $40 million of work from PetroChina to provide LNG transportable, sell contained fueling stations, storage tanks and vehicle tanks (in tax below clearly should be intact. i think phase below should be pace.). The LNG infrastructure build out in China continues to ramp as more engine choices on full production and LNG liquefactioncapacity comes online. We believe our success in capturing orders is due to our experience in delivering quality solutions with available capacity across the entire value chain. In North America investments in LNG related applications remained at historically high levels. However, they are not accelerating a phase many had predicted. We believe it’s due to a couple of factors, first, Cummins have delayed their 12 liter LNG power truck engine launch in mid 2013. This release was originally anticipated in 2012. Secondly, additional LNG liquefactioncapacity is coming online at a slower phase than we anticipated early in 2012. That said the pure economics of switching to LNG, a cleaner, cheaper, and domestic energy source will continue to encourage market development. Our recent capacity unit additions and our plans for further expansion in 2013 will ensure the Chart remains well-positioned to deliver all these opportunities. The build out is moving forward and Chart plans to be as the lead of delivering leaded infrastructure equipment. The LNG growth story has been led by China and to lesser extent North America. We just recently the European Union announced an ambitious package of measures to ensure the build out of natural gas fueling stations across European ports and highways with common standards for their designed use. We expect this to provide additional opportunities for Chart in the future both for on-road applications and marine fueling infrastructure for River and open see vessels. The long-term growth story for LNG has not diminished and the secular growth trend remains in tax. As we talked about in the past heavy-duty truck fueling is the near term opportunity for Chart in the next several years. But we also expect strong demand within the three to five year timeframe for LNG storage and use equipment in oil and gas, drilling, marine, rail and industrial applications.