Lockheed Martin To Produce Liquefied Natural Gas Tanks At Louisiana Facility
Building on 37-year History Manufacturing Space Shuttle External Tanks
NEW ORLEANS, March 12, 2013
NEW ORLEANS, March 12, 2013 /PRNewswire/ --Applying technologies originally
developed for high technology government programs to our national energy and
economic priorities, Lockheed Martin (NYSE: LMT) is leveraging its expertise
in the manufacture of Space Shuttle external tanks to meet the rapidly growing
demand for liquefied natural gas (LNG) tanks for storage and transportation.
Lockheed Martin has received initial orders to manufacture cryogenic tanks for
fueling LNG powered vessels.
"Louisiana is at the forefront of the natural gas boom, and we are proud that
Lockheed Martin has selected Louisiana to pursue new practical applications
and technologies that harness this growing energy source," said Louisiana
Governor Bobby Jindal. "Their investment in our state demonstrates the
confidence they have in our world-class infrastructure, our strong business
climate, and our incomparable workforce."
"Our entry into the LNG tank market is a prime example of how Lockheed Martin
is leveraging capabilities and technologies developed for government programs
to meet the needs of private sector customers who drive our nation's economy,"
said Gerry Fasano, president of Lockheed Martin Information Systems & Global
Solutions-Defense. "We look forward to a long term relationship with the State
of Louisiana and the greater New Orleans area and to bringing quality
employment opportunities to the community."
As part of its longer-range LNG business plan, Lockheed Martin will adapt
production equipment used to manufacture the external tank for the Space
Shuttle for a wide range of LNG supply chain applications. In addition to
applying its external tank manufacturing expertise, the Lockheed Martin LNG
tank manufacturing team will draw on a variety capabilities developed for a
wide range of other programs, spanning propellant handling; assembly, test and
integration; composites manufacturing; and production facility and tooling
design. Lockheed Martin can manufacture tanks in varying sizes and capacities
for multiple transportation applications; this includes distribution by land,
rail or waterway as well as for land-based LNG storage. All tanks are
manufactured to ASME standards for pressurized storage and transportation of
cryogenic materials using the quality and safety standards implemented for the
shuttle tank program.
"The LNG opportunity is a particularly compelling example of how we can
leverage defense- and space-related technology for applications in the private
sector," added Fasano. "Initiatives such as this help exploit the economic
advantages of natural gas, while simultaneously helping reduce greenhouse gas
Headquartered in Bethesda, Md., Lockheed Martin is a global security and
aerospace company that employs about 120,000 people worldwide and is
principally engaged in the research, design, development, manufacture,
integration and sustainment of advanced technology systems, products and
services. The corporation's net sales for 2012 were $47.2 billion.
For additional information, visit: www.lockheedmartin.com
SOURCE Lockheed Martin
Contact: John O'Sullivan, +1-202-664-9448, email@example.com
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