Crowley Enters LNG Market

MarineLink.com
Wednesday, May 08, 2013
Thomas B. Crowley, Jr., Crowley CEO, COO, COB, President (Photo: Crowley)

Crowley Maritime Corporation's petroleum services group is entering the Liquefied Natural Gas (LNG) market by acquiring Carib Energy LLC.  Florida-based Carib Energy, founded in 2011, was the first company to receive a small scale, 25-year, LNG export license from the U.S. Department of Energy (DOE) for LNG transportation from the U.S. into Free Trade Agreement (FTA) countries.

While Crowley’s overall strategic focus on the LNG market will span several of its diversified business lines and leverage its storied history and success in the marine, project management, energy and transportation fields, Carib Energy provides an induction into the emerging energy market from which the company can grow its concentration on LNG transportation.

A Crowley LNG services group has been formed within Crowley’s petroleum services business unit. It is being headed up by Vice President of Business Development Matt Jackson, who reports to Rob Grune, senior vice president and general manager, petroleum services. This team will marshal Crowley’s extensive resources to serve the LNG market through LNG vessel design and construction; transportation; product sales and distribution, and full-scale, project management solutions.  

“Crowley has a myriad of business lines, each with overlapping expertise perfectly positioned to develop a strong footprint in the LNG market,” said Tom Crowley, company chairman and CEO. “Whether it’s designing the next LNG bulk transport vessel, transporting ISO tanks via Crowley’s regularly scheduled liner service, arranging special carriage via our global logistics network or providing project solutions for LNG discovery and extraction; Crowley has the service portfolio to provide turnkey solutions within the LNG space.”

The acquisition of Carib Energy, which becomes a wholly owned subsidiary of Crowley Petroleum Services, now provides Crowley an immediate book of business for the supply, transportation, and distribution of LNG via 10,000 gallon ISO tanks.  While Carib Energy has a pending DOE application to supply LNG transportation services into non-FTA countries, its current licensing allows them, and now Crowley, to supply cost-efficient, environmentally friendly LNG from the U.S. to both commercial and industrial customers within the Caribbean and Central and South America – all countries where LNG is an attractive commodity thanks to its low price point in the face of growing power supply costs.  Carib Energy is also cementing its involvement in future LNG fuel bunkering for ships transiting between the U.S. and Caribbean markets.

As part of the Carib Energy acquisition, Greg Buffington (shown), the company’s president, will join Crowley as vice president of Carib Energy, reporting to Jackson. Buffington will continue to develop and expand the company’s Caribbean and Central America opportunities for small-scale LNG applications.  His experience is deeply rooted within the international propane gas industry where he spent 31 years in varying capacities. He was the founder of EFG Industries, an international supplier of liquefied petroleum gas (LPG) equipment, engineering and plant construction.

www.crowley.com

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SUNY Maritime College Names ABS Chairs

The State University of New York (SUNY) Maritime College has selected Dr. Richard Burke and Dr. Christopher Clott as its inaugural ABS chairs following a comprehensive

Austal Starts Next US Littoral Combat Ship

Austal and the U.S. Navy held a keel-laying ceremony today for the future USS Manchester (LCS 14), marking the first significant milestone in its construction.

Conference to Delve into Hybrid Power & Propulsion

The first international Hybrid Marine Power & Propulsion Conference will be held at the RNLI Lifeboat College, Poole UK from October 6-8, 2015.   Shock Mitigation

LNG

Tanker Converted to LNG-electric Propulsion

Bergen Tankers’ 95-meter-long chemical and product tanker Bergen Viking has returned to service following its conversion from diesel-electric to liquefied natural gas (LNG)-electric propulsion.

Cheniere’s Maiden LNG Spot Deal At $7.20/MMBtu

Cheniere concluded its maiden LNG spot trade earlier this week at for late-July delivery to an Asian buyer, reports Platts quoting a source with direct knowledge of the deal.

Panama Canal Plans LNG Terminal

The Panama Canal Authority (ACP), which administers the canal, is looking at building a Liquefied Natural Gas (LNG) import terminal near the Canal.   The ACP

Mergers & Acquisitions

DPE is New Majority Shareholder in INTERSCHALT

Deutsche Private Equity GmbH (DPE) is set to become the new majority shareholder in INTERSCHALT maritime systems AG, the maritime software and services provider

TGS to Acquire Polarcus' Multi-Client Library

Polarcus Limited has signed a Letter of Intent (LOI) with TGS-NOPEC Geophysical Company for the sale of its multi-client projects in Northwest Europe and West

Northern Offshore acquired by Shandong Offshore

Offshore oil and gas drilling firm Northern Offshore Ltd. has reached agreement on the terms of a recommended $165m cash acquisition by Shandong Offshore International Company Limited.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1580 sec (6 req/sec)