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Graham Corp. has been awarded new contracts on three projects totaling $5 million, the company announced Wednesday.

The Batavia-based company develops and builds industrial equipment for energy-based applications around the world. Its principal markets are oil and gas refining and nuclear power generation.

Two of the orders are for new petrochemical facilities in the Gulf Coast region, driven by the abundance of low-cost natural gas from hydrofracked shale formations.

“We have considerable presence in the U.S. petrochemical industry and continue to experience strong bidding activity for new or expanded production capacity, particularly for ethylene, methanol and ammonia,” said James Lines, president and CEO. “These feedstocks in turn drive many other downstream production facilities that can also present opportunities for our equipment.”

Two orders are for a Chinese petrochemical plant.

Lines said Graham’s products are currently strongest in North American chemical/petrochemical markets. The company’s bidding pipeline currently ranges between $800 million to $1 billion.

Graham (NYSE: GHM) shares have risen from $24 to $34.31 over the past year.