Fairwood Peninsula Energy Corp. has announced that it has signed a strategic alliance with Enbridge Inc.
Under the deal, Enbridge has made a 5% equity investment in Fairwood LNG, as well as entered into a Joint Development Agreement with Fairwood LNG to assist in the development of offshore LNG facilities in the Gulf of Mexico.
Fairwood Peninsula Energy Corp. is the parent company and 100%-owner of Delfin LNG LLC.
Frederick Jones, the Chief Executive Officer of Fairwood LNG and Founder of Delfin LNG, said: “Enbridge is a world-class company with a long and admirable history in the North American midstream energy sector. We are thrilled to be establishing this alliance, which we believe provides a strong platform for future growth. We look forward to a long-term relationship with Enbridge.”
Dave Weathers, Vice President of Development, Enbridge US Midstream, said: “We are pleased to make this investment. As part of the development agreement, we will bring our expertise to the table regarding pipeline project management, pipeline operations and sourcing gas to facilities.”
As a result of the equity position, Enbridge will hold one of the seven board of director seats.
Edited from press release by Callum O'Reilly
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