Chart Industries (GTLS) offers investors exposure to the growth of natural gas fuel stations in China, currently with a contract to fulfill orders for PetroChina (PTR) and expecting more business to come from international markets, says Pavel Molchanov, Analyst at Raymond James & Associates, Inc.
“Chart as a whole has a wide range of products for a wide range of different gas-related end markets, not all of which are specifically focused on energy. But there is no question that the natural gas fuels arena is one of the principal growth drivers for Chart. In China alone this year, they have received $85 million of contracts from PetroChina, one of China’s top energy companies, and I think there is plenty more where that came from,” Molchanov said.
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Molchanov says China plans to build more natural gas fuel stations in one year than the United States has built in its entire history, and PTR is building most of them.
“Even though the price of natural gas is more expensive in China, in India and certainly in Europe than it is in North America, governments have been much more supportive of developing the natural gas fuels market, and industry adoption has generally been more rapid,” Molchanov said.
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