Raymond James & Associates, Inc. Analyst Pavel Molchanov says investors who are looking for a way to play the natural gas theme this year should consider Chart Industries, Inc. (GTLS). Whereas natural gas vehicles haven’t gained much traction in North America, Molchanov says opportunity is ripe in China.
“The problem is not the price of natural gas, which of course is quite low right now in the U.S.,” Molchanov says. “The issue is more on the policy front. The U.S. government just has not been particularly supportive of natural gas vehicles.”
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In contrast, Molchanov says the Chinese government is actively supporting the transition of trucks from petroleum to natural gas. Chart Industries makes equipment that turns natural gas into liquid, and Molchanov says the company is selling equipment that produces liquefied natural gas as a fuel for trucks and buses.
“Last year, the biggest source of orders for this company came from China, specifically from PetroChina, which is a state-controlled oil company,” Molchanov says. “I think that shows nicely that the Chinese government is pushing very hard for this — in contrast to Washington, which is doing very little.”
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