Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact firstname.lastname@example.org.
SOURCE ArcLight Capital Partners, LLC
HOUSTON, May 9, 2014 /PRNewswire/ -- Louisiana LNG Energy, LLC ("LLNGE") has secured funding from an affiliate of ArcLight Capital Partners, LLC ("ArcLight") for LLNGE's mid-scale LNG export terminal currently under development in Louisiana along the Mississippi River (the "Project"). The Project, expected on-line in late 2017, has export capacity of 2.0 million tonnes per annum ("MTPA"), possesses deep water access for very large gas carriers (VLGC) and utilizes modular construction for speed to market.
"The ArcLight funding agreement is a significant step in advancing the LLNGE Project. The addition of their team provides LLNGE additional experienced resources to continue moving the project forward with all phases of the project scheduled for completion in late 2017," said Jim Lindsay, Chief Executive Officer of LLNGE.
"ArcLight is pleased to be partnering with LLNGE's management team to facilitate the development of the premier mid-scale LNG facility in the Gulf Coast," said Carter Ward, Partner of ArcLight.
LLNGE has selected Chart Energy & Chemicals, Inc. ("Chart E&C") to perform advanced engineering for the Project. LLNGE has selected Chart's 0.5 MTPA standard LNG liquefaction plant design. The plants will feature Chart's proprietary liquefaction technology with in-house design and manufacture of all mission critical equipment. Advanced engineering will commence immediately. The Project also has procured four manufacturing space reservations with Chart, to ensure that the 2.0 MTPA LNG plant can be online in the 4th quarter of 2017. Tom Burgess, Vice-President of Marketing for LLNGE, commented, "By securing the slot reservations for the liquefaction trains, LLNGE has completed another important step in maintaining its timeline for production in 2017."
Sea Port Group Securities, LLC acted as lead financial advisor and Galway Capital L.P. acted as financial advisor to LLNGE. Separately, Galway Energy Advisors LLC has been retained to assist LLNGE in securing LNG off take arrangements and with other commercial operations.
About Louisiana LNG Energy
LLNGE is developing an LNG Natural Gas Liquefaction Facility south of New Orleans at Mile Marker 46 LDB, on the Mississippi River. The facility will be developed in Plaquemines Parish, Louisiana and designed to produce approximately 2.0 MPTA. The mid-scale LNG export facility will serve export markets with low cost power generation fuels, and domestic markets delivering emissions compliant fuels as an alternative to diesel fuel. Visit www.louisianaLNGenergy.com for more information.
About ArcLight Capital Partners, LLC
ArcLight is one of the leading private equity firms focused on North American energy infrastructure assets. Since its establishment in 2001, ArcLight has invested over $10 billion across multiple energy cycles in more than 100 power, midstream and production assets. Headquartered in Boston, Massachusetts with an additional office in Luxembourg, the firm's investment team brings extensive energy expertise, industry relationships, and specialized value creation capabilities to its portfolio. Visit www.arclightcapital.com for more information.
About Chart Energy & Chemicals, Inc.
Chart is a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases. The majority of Chart's products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, the largest portion of which are energy-related. Chart has domestic operations located across the United States and an international presence in Asia, Australia and Europe. For more information, visit www.chartenergyandchemicals.com
About Sea Port Group Securities, LLC
Sea Port Group Securities, LLC was founded in 2001 as a distressed debt broker and has grown to nearly 200 professionals operating in over a dozen separate business lines. The firm is a leader in global capital markets with multi-product expertise. Based in New York, the firm executes over $50 billion in annual average fixed income transactions and has one of the largest sales and trading operations of any boutique investment bank. In January, the firm came under common control and ownership with Global Hunter Securities, LLC, a full service investment bank focusing on natural resources-related sectors including Energy, Shipping and Industrials. It is anticipated the firms will be merged later this year leading to the creation of a full service global investment bank. For more information, please visit www.seaportglobal.com.
About Galway Group L.P.
Galway Group is an energy advisory and investment banking firm headquartered in Houston, Texas. Founded by several former senior energy industry executives, Galway has grown to a full-service energy advisory firm with offices in Houston and Singapore. Galway Group offers transactional, analytical and investment banking support to the energy sector, from concept development, through contract negotiations, financing, risk management, and commercialization. Our expertise is based on over four decades of industry experience in support of a wide array of clients, including global Fortune 500 companies, small and medium-size enterprises, and governments. With the opening of the Galway Singapore office, our work has expanded to accommodate a growing base of international clients in Asia, the Middle East and Africa.
For more information visit: www.louisianaLNGenergy.com
©2012 PR Newswire. All Rights Reserved.