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Eqt News

19 Feb 2024

Gulf LNG Tugs to Provide Towage at Texas LNG Terminal in Brownsville

(Image: Texas LNG)

Gulf LNG Tugs of Texas has been selected to provide towage services for the Texas LNG export terminal to be constructed in the Port of Brownsville.Gulf LNG Tugs, a consortium of Suderman & Young Towing Company, Bay-Houston Towing, and Moran Towing Corporation, will build, deliver and operate tugboats under a long term agreement to assist LNG carriers arriving at the facility.Texas LNG will be a 4 million tonnes per annum (MTPA) liquefied natural gas (LNG) export terminal owned and managed by Glenfarne Energy Transition.

15 Feb 2024

Scanunit Helps Ferry Aurora in first PFAS/PFOS Conversion

Tank Inspection after decontamination. Image courtesy Scanunit

Battery-powered Öresundslinjen ferry notches up an environmental first with turnkey conversion and decontamination of soon to be outlawed PFAS/PFOS fire-fighting foam to an environmentally friendly alternative.Scanunit has carried out what it believes is the world’s first replacement and decontamination of a PFAS/PFOS1 foam firefighting system on a commercial vessel. Aurora, a 1992-built ferry operated by EQT-owned Öresundslinjen (a subsidiary of Molslinjen), was the vessel concerned…

03 Nov 2021

CMA CGM to Buy Los Angeles' FMS Container Terminal

(Photo: Fenix Marine Services)

Shipping group CMA CGM has agreed to acquire the Fenix Marine Services (FMS) container terminal at the port of Los Angeles in a deal worth around $2 billion that will extend its presence in a crucial hub for transpacific trade.CMA CGM currently has a 10% stake in FMS and it is to buy the remaining 90% from investment fund EQT Infrastructure III on the basis of an enterprise value of $2.3 billion, CMA CGM and EQT said on Wednesday.France-based CMA CGM, one of the world's largest container shipping lines, expects to pay out around $1.8 billion for the 90% stake and will finance the deal from its

10 Jun 2021

Top U.S. LNG Exporter Launches Effort to Measure Emissions

© dzm1try/AdobeStock

Cheniere Energy Inc, said on Thursday it would quantify carbon emissions from its suppliers and production sites and supply the information to customers.LNG buyers have begun asking suppliers for natural gas sourcing data and greenhouse gas emissions to reduce their own carbon footprints. Several LNG producers are proposing adding carbon capture and storage alongside their LNG projects.Cheniere said it signed agreements with five natural gas producers and several academic institutions to implement quantification…

01 Jun 2021

Alfa Laval Completes StormGeo Acquisition

© JHVEPhoto / Adobe Stock

Swedish-based equipment manufacturer Alfa Laval announced Tuesday it has completed its acquisition of Norwegian weather intelligence and decision support services provider StormGeo.Alfa Laval, which announced the deal in May, said the acquisition is part of a strategy to boost its digital services offering and support the maritime industry’s operational efficiency efforts. StormGeo will become a part of Alfa Laval's marine division.The purchase price is fully financed via cash and amounts to MNOK 3,630 (approximately MSEK 3,700) on a debt and cash free basis.

16 Aug 2019

Gazprom Lead Oil and Gas Growth Worldwide

Russian giant Gazprom saw the most production growth among world’s exploration and production (E&P) companies during the five-year span from 2014 through 2018.It’s followed by Chinese player PetroChina Company Limited and U.S. shale company EQT Corporation ranking second and third, respectively, said energy research firm Rystad Energy.Onshore resources – whether conventional or unconventional – are a major driver of growth, it said.“Gazprom, the clear leader in production growth, is the only company with a total growth of more than 1 million barrels of oil equivalent per day (boepd) over the last five years,” said Espen Erlingsen, Rystad’s head of upstream research.

28 May 2019

StormGeo Names Carsten Mortensen as Chairman

The weather forecasting services provider StormGeo AS has appointed Carsten Mortensen as new Non-executive Chairman to its Board of Directors.He brings more than 30 years of operational experience, having held leadership positions at global Nordic companies, such as A.P. Møller-Mærsk, D/S Norden and most recently as CEO of BW Group.Furthermore, Carsten Mortensen has been a strong advocate for the adoption of digital services and sustainable business practices through his Chairmanships of the Danish Shipowners Association and “Vækstteam”, an initiative to fuel growth in the maritime industry supported by the Danish Government.Rikke Kjær Nielsen, Partner at EQT Partners, comments, “We are proud to announce Carsten as StormGeo’s new Chairman.

29 Oct 2018

Eagle Marine Services Announces Rebrand to Fenix

Eagle Marine Services (EMS), an EQT Infrastructure III-owned container terminal which is one of the largest in the Twin Ports of Los Angeles and Long Beach, today announced the launch of a new corporate brand identity and name.Effective immediately, the organization will be known as Fenix Marine Services. The Fenix name represents the reinvention of what was once the most technologically advanced facility in North America.The rebranding also marks an important milestone in the company’s execution of its value creation plan, which includes over $70 million in investments in 2018 and nearly double that in the coming years.The company has fast tracked the plan and…

01 Mar 2018

Trump's Steel Import Tariffs May Hurt US LNG Exports

© Wojciech Wrzesień / Adobe Stock

U.S. natural gas trade groups said on Thursday they are concerned that new U.S. steel import tariffs could delay or reduce new pipeline projects as well as dent exports of liquefied natural gas. U.S. President Donald Trump said on Thursday the United States will impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum next week. The type of pipe and the steel used to make large diameter, thick-walled pipe used for interstate natural gas pipeline projects are niche products that are not available off the shelf or even from a wide variety of manufacturers…

01 Dec 2017

CMA CGM Completes Sale of Los Angeles Terminal

The CMA CGM Group completed today the sale of a 90% equity interest in Global Gateway South terminal (GSS) in Los Angeles (United States) to EQT Infrastructure III (EQT Infrastructure) and its partner P5 Infrastructure (P5), for an Enterprise Value of USD 875 million. Consequently, CMA CGM received a cash consideration of about USD 820 million that may be completed according to the terms announced last July. CMA CGM will remain a minority shareholder with 10% of the GGS terminal and will continue to be a major user of the facility. The disposal of GGS enables CMA CGM to strengthen its financial structure in line with the plan communicated at the time of NOL’s acquisition in June 2016.

03 Jul 2017

CMA CGM Sells L.A. Box Terminal Stake

French container shipping firm CMA CGM said on Monday it had agreed to sell a 90 percent stake in a Los Angeles terminal to infrastructure funds for $817 million in cash. CMA CGM will retain a 10 percent interest in the Global Gateway South terminal after the deal with funds EQT Infrastructure and its partner P5 Infrastructure, the company said in a statement. The terminal came under CMA CGM's ownership through its 2015 takeover of Singapore's Neptune Orient Lines (NOL), a $2.4 billion deal that marked the Marseille-based group's biggest-ever acquisition. CMA CGM said the sale would help it pay down debts following the NOL takeover and that it was part of its strategy of focusing on shipping.

12 Apr 2017

New US Pipelines to Drive Natural Gas Boom as Exports Surge

© Yauheni Chazlou / Adobe Stock

U.S. energy firms are scrambling to finish a slew of pipelines that will unleash rich reserves of shale gas in Pennsylvania, West Virginia and Ohio as the nation prepares to become one of the world’s top natural gas exporters. The pipelines are expected to boost output from shale fields in the three states by giving producers access to new domestic and international markets. Those states could supply about a third of all U.S. natural gas once the pipeline expansion is complete, up from about 25 percent now, according to projections from the U.S. Energy Information Administration (EIA).

18 Oct 2014

U.S. Natgas Engine Sales Lagging Fuel's Steep Price Plunge

Natural gas-fueled engines, touted as a clean, low-cost alternative to diesel, continue to struggle for acceptance in the U.S. transportation sector despite a surge in gas production that has sent the alternative fuel's domestic price plunging. U.S. natural gas prices closed on Friday at $3.766 per million British thermal units, down 42 percent since February. At its current levels, natgas is about $1.50 a gallon cheaper than diesel fuel, according to the U.S. Energy Information Administration. For U.S. railroads alone, which consumed 3.6 billion gallons of diesel in 2012, the potential savings are huge. Yet more than a year after Warren Buffett's BNSF Railways Corp generated big headlines with a plan to test a handful of natgas locomotives…

10 Jan 2014

Aker Completes Well-intervention Services Business Sale

Image courtesy of Aker Solutions

Aker Solutions says it has completed the sale of its well-intervention services business area to EQT, a Swedish private equity fund. The unit was sold for an enterprise value of NOK 4 billion and the agreement includes an earn-out provision where Aker Solutions will receive 25 percent of any internal rate of return exceeding 12 percent a year on EQT's equity investment. Aker explain that the business provides services that optimise flows from oil reservoirs. It is strongly positioned within wireline tractor services…

06 Jul 2012

Pilot Program to Convert Drill Rigs' Power Plants to LNG

EQT Corporation has announced the launch of a pilot program to begin converting drilling rigs to liquefied natural gas (LNG), displacing the diesel used to power equipment at the well site. This program marks the first LNG rig conversion in the Marcellus Shale and will provide a cleaner burning alternative fuel for the region’s drilling operations. “Along with safety, protection of the environment is top-of-mind for our employees, contractors, and of course communities. We continually look for opportunities to improve our operations and displacing diesel, by introducing the use of alternatives such as LNG and field gas, is one way of…

30 Apr 2008

Tognum Has a New Major Shareholder

approximately 22% stake in Tognum AG – which it held through the company Seeker Rekees S.à r.l. – to Daimler AG. Daimler’s Supervisory Board approved the acquisition of this shareholding. Tognum AG. The entire transaction is subject to the approval of antitrust and other authorities. Tognum’s Board of Management welcomes this decision of Daimler and EQT. CEO Volker Heuer stated: “We are delighted that Daimler AG fully supports Tognum’s growth strategy – as a reliable business associate and now also as a strategic investor. corporate strategy focused on profitable growth and today’s independence. Less than one year after the initial public offering, the previously open question of what would happen to EQT’s remaining stake has been successfully resolved.