Stolt-Nielsen Gas Takes Major Stake in LNG Logistics Start-Up

By Joseph R. Fonseca
Thursday, May 29, 2014
Courtesy Stolt-Nielsen Limited

 

Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that Stolt-Nielsen Gas Ltd. (SNG), SunLNG Holding Ltd. (SunLNG) and LNGaz Ltd. have agreed to form a new start-up focused on the development of small-scale LNG liquefaction and logistics services in Bécancour, Québec, 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, Bjørn Torkildsen and Rodney 
Semotiuk."
 
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Aussie Tug Engineers take Deal, Cancel Strike

Tug engineers withdrew plans to strike at Port Hedland, Australia's biggest iron ore port, tug operator Teekay Shipping said on Thursday, removing a threat to exports

MoA for APM Terminals in Ghana Port Deal

Port operator APM Terminals, a unit of shipping and oil conglomerate A.P. Moller-Maersk , said on Thursday it had signed a memorandum of understanding with the

Lynden to Provide Barge Service for Tulsequah Mine Project

Lynden Logistics, LLC signed a letter of intent with Chieftain Metals Corp. to provide barge services in support of the construction and production of the Tulsequah Mine in British Columbia.

Finance

OW Bunker Bankruptcy has ‘Limited Impact’ on Monjasa

Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds

Sustainability Report: Carnival Ahead of Emissions Goal

Carnival Corporation & plc released a report today detailing its sustainability efforts, including initiatives which enabled the company to meet its corporate goal

EU Funds Study into New Aberdeen Harbor

The EU's TEN-T Program will invest over $940,000 for development studies for a new harbor at Nigg Bay in Aberdeen, Scotland. The harbor is to support the existing

Energy

Panama Canal Delegates Meet with Japanese Customers

A Panama Canal delegation headed by Administrator Jorge L. Quijano visited Japan to hold discussions with the Japan Shipowners’ Association (JSA) and the major Japanese shipping lines,

Russian Firms Face Huge Insurance Costs as Foreign Providers Flee

Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business

NAT CEO: Low Oil Prices Benefit the Tanker Market

Nordic American Tankers Limited Chairman & CEO Herbjørn Hansson addressed the impacts of low oil prices on the tanker business in a letter to shareholders, citing

Fuels & Lubes

OW Bunker Bankruptcy has ‘Limited Impact’ on Monjasa

Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds

Shell Launches Naturelle Stern Tube Fluid

Shell has launched its new range of Environmentally Acceptable Lubricants (EALs), including Shell Naturelle S4 Stern Tube Fluid 100.   The Shell Naturelle range

Energy Storage System Ordered for LNG Battery Hybrid Ferry

Norwegian hybrid to be the first LNG battery ferry to operate on commercial routes Corvus Energy, Siemens AS and Fjord1 have announced the award of the contract for the Fannefjord LNG hybrid ferry.

LNG

Shipowner Exmar Shelves IPO ... for Now

EXMAR (Euronext: EXM) said that due to unfavorable current capital market conditions, it is delaying the launch of the contemplated initial public offering (IPO)

Energy Storage System Ordered for LNG Battery Hybrid Ferry

Norwegian hybrid to be the first LNG battery ferry to operate on commercial routes Corvus Energy, Siemens AS and Fjord1 have announced the award of the contract for the Fannefjord LNG hybrid ferry.

DNV GL, N-KOM to Partner on LNG Initiatives

A memorandum of understanding (MOU) was signed today between DNV GL and Qatar’s premier shipyard Nakilat-Keppel Offshore & Marine (N-KOM) to promote liquefied natural

News

OW Bunker Bankruptcy has ‘Limited Impact’ on Monjasa

Though OW Bunker’s collapse has varyingly affected many companies around the globe, Danish bunker fuel provider Monjasa A/S said in a statement that the news holds

New Portable Power System from SWE

Southwest Electronic Energy announced the launch of POW-R Tote, a rugged, lightweight, 12V/117Ah portable power system which provides compact-convenient energy

Australia: Maritime SAR in Asia Pacific a Priority

Defense force personnel from Australia are in China for Exercise Cooperation Spirit 2014 which begins today. The exercise aims to enhance coordination and cooperation between Australia,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1505 sec (7 req/sec)