HOUSTON -- (Business Wire)
Fairwood Peninsula Energy Corp ("Fairwood LNG”), the parent company and
100%-owner of Delfin LNG LLC (“Delfin LNG”), today announced a strategic
alliance with Enbridge, Inc. (“Enbridge”) (TSX/NYSE:ENB), in which
Enbridge has purchased an equity position in Fairwood LNG. Enbridge has
made a five percent equity investment in Fairwood LNG. Enbridge has also
entered into a Joint Development Agreement with Fairwood LNG to assist
in the development of offshore LNG facilities in the Gulf of Mexico.
Frederick Jones, the Chief Executive Officer of Fairwood LNG and Founder
of Delfin LNG, said, “Enbridge is a world-class company with a long and
admirable history in the North American midstream energy sector. We are
thrilled to be establishing this alliance, which we believe provides a
strong platform for future growth. We look forward to a long-term
relationship with Enbridge.”
Dave Weathers, Vice-President of Development, Enbridge U.S. Midstream,
said, “We are pleased to make this investment. As part of the
development agreement, we will bring our expertise to the table
regarding pipeline project management, pipeline operations and sourcing
gas to facilities.” As a result of the equity position, Enbridge will
hold one of the seven board of director seats.
About Fairwood Peninsula Energy Corp:
Fairwood Peninsula Energy Corp (“Fairwood LNG”) is a midstream LNG
company focused on providing critical infrastructure for the floating
liquefaction industry. Fairwood LNG is the parent company and 100%-owner
of Delfin LNG LLC, which is developing the first floating liquefaction
project in the United States. Fairwood LNG is well-positioned to expand
its business beyond Delfin LNG over time to a variety of participants in
the growing midstream LNG industry. The company is led by Chief
Executive Officer Frederick Jones and has headquarters in Houston, Texas.
About Delfin LNG LLC:
Delfin LNG LLC (“Delfin”) is currently developing Port Delfin, a
floating liquefaction and export facility to be located in the Gulf of
Mexico. As planned, Port Delfin consists of onshore gas compression
facilities and a deepwater port that uses existing pipeline
infrastructure in the Gulf of Mexicoto transport natural gas
offshore to four moored floating liquefaction vessels. Delfin has
submitted an application to MARAD and the USCG for authorization to
construct, own and operate a deepwater port capable of exporting 443.3
Bscf/y of natural gas or 9.2 MMtpa of LNG. Delfin signed a Joint
Development Agreement with Höegh LNG Ltd (Oslo Børs: HLNG) in relation
to the Project. Further information is available at http://www.delfinlng.com/.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150701005765/en/
Contacts:
Media:
Sard Verbinnen & Co
Dan Gagnier,
212-687-8080
Source: Delfin LNG LLC
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