Jacksonville, FL (GLOBE NEWSWIRE) - Eagle LNG Partners LLC (“Eagle LNG”), announced today that it has selected Matrix Service Inc. (“Matrix Service”), a subsidiary of Matrix Service Company (Nasdaq: MTRX), for the engineering, procurement, fabrication and construction of a liquefied natural gas (“LNG”) export facility, to be built in Jacksonville, Florida. Eagle LNG's Jacksonville LNG Export Facility, which will require an investment of ~$500 million based on final design, will also utilize Chart Industries’ (Nasdaq: GTLS) IPSMR® technology and liquefaction equipment technology. The facility will have a production capacity of approximately 1.65 million LNG-gallons per day with 12 million LNG-gallons of storage plus a marine terminal and truck-loading capabilities.
“Eagle LNG is experiencing a growing demand for LNG to serve small-scale export markets, while domestic demand for fuel-grade LNG continues to increase," said Dick Brown, CEO of Eagle LNG. "We continue to build out LNG infrastructure across the country to meet these needs. Partnering with Matrix Service and Chart Industries provides service from concept through completion."
LNG offers significant environmental and economic benefits for industries that include marine and power generation. The Jacksonville LNG Export Facility will serve as the Caribbean’s most cost-effective, proximal LNG source loading LNG onto small, ocean-going vessels for export to countries currently using heavy fuel oil or diesel for power generation. The Jacksonville LNG Export Facility has an economic advantage utilizing a regional supply chain better matching smaller-scale LNG supply, proximity and customer demand profile. Conventional LNG models are designed to serve large-scale, global supply needs and thus expose small-scale markets to costs associated with large-scale infrastructure or break-bulk. Eagle LNG will continue to serve domestic marine fueling and exporting LNG in ISO containers for Caribbean markets from Eagle LNG’s Maxville LNG Facility, also located in Jacksonville, Florida.
"We are extremely proud to have been selected by Eagle LNG to provide turnkey solutions for this project, which will expand their ability to provide clean, low-cost, domestically produced natural gas to both domestic and global markets,” said Matrix Service Company CEO John R. Hewitt. “Following the recent successful completion of our work at Eagle LNG’s Maxville LNG facility, we look forward to helping Eagle LNG achieve its objectives by providing our expertise in cryogenic storage and complete balance of plant, including marine structures, to deliver this next project safely, with the highest quality, on time and on budget."
Chart Industries’ CEO Jill Evanko said, “We are pleased to partner with Matrix Service on this important project for Eagle LNG, bringing our global experience in the design and manufacture of highly engineered cryogenic equipment as well as our patented IPSMR® process technology.”
With completion of the Jacksonville LNG Export Facility, Eagle LNG’s investment in Jacksonville, Florida, including its Maxville LNG Facility and the Talleyrand LNG Bunker Station on JAXPORT, will rival that of other major manufacturers who are moving to Jacksonville because of its skilled workforce and strong port presence. This facility will further support the almost 26,000 jobs in Northeast Florida that depend on the port and its activity.
Eagle LNG received both FERC authorization and Department of Energy LNG export approvals for the Jacksonville LNG Export Facility in late 2019.
About Eagle LNG Partners (Eagle LNG)
Eagle LNG is a privately held and operated portfolio company of The Energy & Minerals Group. Eagle LNG provides affordable, efficient and clean-burning energy. It develops small-scale LNG solutions providing fuel for marine industries as well as power generation in the Caribbean and Central America. Eagle LNG is based in Houston, Texas. For additional information, please visit www.eaglelng.com.
About The Energy & Minerals Group (EMG)
EMG is the management company for a series of specialized private equity funds. EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG has approximately $13 billion of regulatory assets under management and approximately $12 billion in commitments have been allocated across the energy sector since inception. For additional information, please visit www.emgtx.com.
About Matrix Service Company
Founded in 1984, Matrix Service Company (Nasdaq: MTRX) is parent to a family of companies that includes Matrix PDM Engineering, Matrix Service Inc., Matrix NAC, and Matrix Applied Technologies. Its companies design, build and maintain infrastructure critical to North America's energy and industrial markets. Matrix Service Company is headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.
The Company reports its financial results based on four key operating segments: Electrical Infrastructure, Storage Solutions, Oil Gas & Chemical and Industrial.
With a culture driven by its core values of safety, integrity, stewardship, positive relationships, community involvement and delivering the best, Matrix has twice been named to Forbes Top 100 Most Trustworthy Companies in America and is consistently recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit matrixservicecompany.com.
About Chart Industries, Inc.
Chart Industries, Inc. (Nasdaq: GTLS) is a leading independent global manufacturer of highly engineered equipment servicing multiple market applications in Energy and Industrial Gas. Our unique product portfolio is used throughout the liquid gas supply chain in the production, storage, distribution and end-use of atmospheric, hydrocarbon, and industrial gases. Chart has domestic operations located across the United States and an international presence in Asia, Australia, Europe and South America. To learn more, visit www.chartindustries.com.
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