Stolt-Nielsen Takes Stake in LNG Logistics Startup

By Michelle Howard
Wednesday, May 28, 2014

Stolt-Nielsen Limited has announced  that Stolt-Nielsen Gas Ltd. (SNG), SunLNG Holding Ltd. (SunLNG) and LNGaz Ltd. have agreed to form a new startup focused on the development of small-scale LNG liquefaction and logistics services in Becancour, Quebec, Canada. The new joint venture, to be named Stolt LNGaz Ltd., will have a Canadian operating subsidiary, Stolt LNGaz Inc. The transaction represents an initial investment of US$ 20 million with SNG owning 50% of the venture.

Stolt LNGaz intends to provide clean burning natural gas to remote mining operations and other industrial customers in northeast Canada at a substantially lower cost than diesel and residual fuel oil, which are the primary energy sources today. Under the current plan, gas delivered via existing pipelines terminating in southeast Canada will be liquefied at a small-scale plant to be constructed by Stolt LNGaz. The fuel will then be transported primarily via LNG carriers to a number of customers and hubs across northeast Canada. Cost advantages are expected to enable surplus production to be exported to northern Europe. Stolt LNGaz expects the total capital investment to be approximately US$ 570 million over the next four years in infrastructure and services development, partly funded with debt financing secured by long-term customer contracts.

Commenting on the transaction, Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, said, "This start-up investment leverages Stolt-Nielsen's expertise in marine logistics. We are pleased to be partnering with SunLNG, along with the experienced energy entrepreneurs, Bjorn Torkildsen and Rodney Semotiuk."

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Tanker Allision on the Piscataqua River

The U.S. Coast Guard says it is continuing to monitor the condition of the chemical tanker Chem Venus, after it allided with three unoccupied, moored sailboats

NAT Takes Delivery of Suezmax, Earnings Capacity Up

Nordic American Tankers Limited ("NAT" or "the Company") announced that it today took delivery of a Suezmax vessel, the Nordic Sirius, built at a shipyard in Japan.

BIMCO - Oil Product Tankers Earnings Decline as stockbuilding Slows Down

BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is still money to be made in the second half of 2016.

Finance

Baltic Index Rises on Increased Demand Across Segments

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday on higher demand across all vessel segments.

PALFINGER Finalizes Harding Acquisition

The PALFINGER Group closed the acquisition of 100 percent of the shares in Herkules Harding Holding AS, i.e. the globally operating Harding Group, supplier of lifesaving

Beijing Slams South China Sea Court Proceedings

Permanent Court of Arbitration ruling set for July 12. An international court said it would deliver a hotly anticipated ruling in the Philippines' case against

Energy

Construction Begins on Johan Sverdrup Riser platform

The riser platform construction start was marked today at the Samsung Heavy Industries yard in South Korea. Project director for Johan Sverdrup Kjetel Digre (from right),

NAT Takes Delivery of Suezmax, Earnings Capacity Up

Nordic American Tankers Limited ("NAT" or "the Company") announced that it today took delivery of a Suezmax vessel, the Nordic Sirius, built at a shipyard in Japan.

Boon, Non-executive Director of ST Engineering Resigns

Singapore Technologies Engineering Ltd (ST Engineering) today announced the resignation of Mr Quek Tong Boon as non-executive Director with effect from 1 July 2016.

News

US Provides $100 Mln in Port Security Grants

Homeland Security Secretary Jeh Johnson announced final allocations of $275 million for six fiscal year 2016 U.S. Department of Homeland Security (DHS) competitive preparedness grant programs,

Solstad CSV Gets Propulsion Overhaul at Gibdock

Gibraltar’s Gibdock shipyard has completed its scope of work on Solstad Shipping’s Normand Cutter, a 127-meter-long, 10,979grt construction support vessel (CSV)

Tanker Allision on the Piscataqua River

The U.S. Coast Guard says it is continuing to monitor the condition of the chemical tanker Chem Venus, after it allided with three unoccupied, moored sailboats

Logistics

Xeneta: No Silver Lining for Container Shipping in Brexit Storm

Xeneta, a  global benchmarking and market intelligence platform for containerized ocean freight, believes that the UK’s decision to leave the European Union will

Baltic Index Rises on Increased Demand Across Segments

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday on higher demand across all vessel segments.

MAST, AMSA Partner for Risk Management Services

Maritime security company Maritime Asset Security Training (MAST) has announced their partnership with Astbury Marine Services & Associates (AMSA), a specialist

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Simulators 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: 0.1413 sec (7 req/sec)