Eagle LNG Selects Matrix Service As Epc Contractor to Build Jacksonville LNG Export Facility

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.

Source: Eagle LNG Partners LLC
Date: Jan 13, 2020