Chart Industries Inc. expects more LNG terminal customers to sanction large-scale and modular projects in the near term, increasing its already sizable list of orders, as exporters rush to meet skyrocketing demand for natural gas.

Ball Ground, GA-based Chart reported to investors last week it broke records across the board during the second quarter, recording its largest total of orders, the largest backlog and the most sales in a quarter. The company saw $888 million in new equipment orders, a $1.9 billion backlog of orders and $405 million in sales during 2Q2022.

The lion’s share of those gains came from liquefied natural gas export projects, which Chart management expects to see “additional progress” on through the “next six to 12 months.” That includes financial investment decisions on both large U.S. terminals and floating storage regasification units (FSRU).

“We continue to see broad-based demand across our end markets, with expectations for additional LNG projects and retrofits as well as a global focus on the energy transition,” CEO Jill Evanko said.

The first quarter of the year had previously been Chart’s record quarter, especially for large-scale LNG terminal orders. It received $228 million in orders for large-scale LNG equipment in 1Q2022. That total jumped to $300 million in 2Q2022.

Cheniere Energy Inc.’s Corpus Christi Stage 3 expansion contributed to a significant portion of the order boost. The complete $350 million order for the project was added to Chart’s backlog at the end of June. 

It also booked its third “Fast LNG” project for New Fortress Energy to create another retrofitted floating LNG terminal with modular trains. Combined, the company booked $73.1 million of small-scale and floating LNG work in the second quarter.

Chart has been expanding its capacity to handle large-scale LNG orders with acquisitions in the United States and Europe. It completed its acquisition of Fronti Fabrications Inc. at the end of May. It also completed an acquisition in 2Q2022 of Sweden’s CSC Cryogenic Service Center AB for $4 million.

Chart is also considering an investment in a carbon capture, utilization and storage (CCUS) facility in Canada that would use its proprietary technology. In a memorandum of understanding disclosed Friday, Chart agreed to explore the project with Calgary-based Wolf Midstream.

Dubbed the Mount Simon Hub, the proposed series of CCUS projects could run from Cedar Rapids, IA to central Illinois. Chart’s cooperation would also focus on future expansions north toward Chicago and east into Indiana and the Ohio River Valley to capture carbon from refineries and cement, steel, petrochemical and other industrial sites.

Chart reported second quarter net income of $13.4 million (36 cents/share), compared with $6.8 million (18 cents) in the year-ago period.