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GE, Clean Energy, Ferus to jointly develop LNG fueling projects in US

09.19.2013  | 

The consortium, named Eagle LNG Partners, will develop regional LNG projects to meet the growing demand for the cleaner-burning, less expensive fuel in industries such as long-haul trucking, rail, mining, marine, and oil and gas services. Investment terms were not disclosed by the companies.

Keywords:

Clean Energy Fuels Corp., Ferus Natural Gas Fuels and GE will form a consortium to jointly deliver liquefied natural gas (LNG) in the US, the companies said on Thursday. 

The consortium, named Eagle LNG Partners, will develop regional LNG projects to meet the growing demand for the cleaner-burning, less expensive fuel in industries such as long-haul trucking, rail, mining, marine, and oil and gas services.

“Natural gas is revolutionizing the fueling of long-haul trucking and other high-horsepower applications," said John Shepherd, managing director at GE Energy Financial Services. "With massive amounts of domestic reserves, America is facing a generational opportunity to move to a more secure, less expensive and cleaner-burning fuel. Eagle LNG Partners’ mission is to provide customers with technology and know-how to confidently make the switch.”

Through experience, technical capability and commercial expertise, Eagle LNG Partners says it will identify strategic US locations to develop, own and operate LNG production projects.

Additionally, when required in certain markets such as oil and gas and marine, the consortium says it will be capable of providing its customers with complete LNG solutions including transportation and delivery, on-site storage, gasification and dispensing. The group says it aims to provide proximal and uninterrupted LNG supply.

The roles of the companies involved are as follows:

  • Clean Energy brings experience in developing, constructing and operating micro-LNG plants
  • Ferus Natural Gas Fuels offers tailored expertise in cryogenic and micro-LNG plants, along with understanding of cryogenic logistics that ensures uninterrupted fuel supply
  • GE Ventures plans to drive commercial and technical innovation
  • GE Energy Financial Services will provide capital for energy projects

“Major companies in the long-haul trucking business have made significant announcements over the last few months about their intentions to convert their own fleets, or the third-party trucks that move their products to natural gas," said Andrew J. Littlefair, president and CEO of Clean Energy. 

"Along with recent announcements by rail and marine companies, it’s easy to understand the need for a significant increase in LNG supply in the United States," he added. "We are now joining with our partners to help meet that demand.” 

The consortium says it is currently considering projects in Florida, Washington, Colorado, North Dakota, Ohio and Texas. These projects would build upon existing Clean Energy and Ferus Natural Gas Fuels plants and operations, as well as previously announced Clean Energy-GE LNG projects in the Northeast and Midwest, which are expected to be operational in late 2015.

"We have heard our customers say they want LNG delivered to their point of consumption at a predictable price, with certainty and redundancy of availability," said  Dick Brown, CEO of Ferus Natural Gas Fuels. "They want someone who has been in the business of owning and operating these plants, with the experience to facilitate the switch to natural gas, and who can deliver and dispense LNG safely and reliably without any disruption to operations.”

Customers of Eagle LNG Partners will be operators of high-horsepower equipment in trucking, oil and gas, rail, marine, remote power and mining who now burn diesel or fuel oil and are interested in converting to natural gas.



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