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Crowley Maritime Corp. has entered the business of transporting liquefied natural gas with the acquisition of Carib Energy LLC.
Founded in 2011, Carib Energy, based in Florida, was the first company to receive a small-scale, 25-year LNG export license from the U.S. Department of Energy to transport LNG from the U.S. into countries covered by free trade agreements. Carib Energy now becomes a wholly owned subsidiary of Crowley Petroleum Services.
The acquisition of Carib Energy launches Crowley into the business of supplying, transporting and distributing LNG using 10,000-gallon ISO tanks, which are tanks built to an international standard for intermodal shipping.
Under Carib Energy’s current licensing it also allows Crowley to supply LNG from the U.S. to commercial and industrial customers within the Caribbean and Central and South America.
Crowley’s overall strategy is to expand into the LNG market in a way that spans several of its current business lines, company Chairman and CEO Tom Crowley said in a news release.
Areas being pursued include designing LNG bulk transport vessels, transporting ISO tanks via Crowley’s regularly scheduled liner service, arranging special carriage via its global logistics network, and providing project solutions for LNG discovery and extraction.
Crowley has formed a new LNG services group, led by Vice President of Business Development Matt Jackson, which will operate within the company’s petroleum services business unit.
Carib Energy President Greg Buffington will join Crowley as vice president of Carib Energy, reporting to Jackson. Buffington has spent 31 years in the international propane gas industry. He was the founder of EFG Industries, an international supplier of liquefied petroleum gas.
Post found at:
http://www.bizjournals.com/jacksonville/news/2013/05/08/crowley-enters-natural-gas-shipping.html
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