General Electric’s new consortium, Eagle LNG Partners, plans to oversee these transition periods. The consortium is made up of four divisions. One is Clean Energy (NASDAQ: CLNE), experienced in developing, constructing and operating micro-LNG units. Another, Ferus Natural gas, has expertise in cryogenic and micro-LNG units. GE Ventures will oversee commerce and technology, and GE Energy Financial Services will impart capital for energy products.
Together, the four offshoots will coordinate to ensure a smooth transition to LNG.
CEO of Ferus Natural Gas, Dick Brown, said: "we have heard our customers say they want LNG delivered to their point of consumption at a predictable price, with certainty and redundancy of availability. They want someone who has been in the business of owning and operating these plants, with the experience to facilitate the switch to natural gas, and who can deliver and dispense LNG safely and reliably without any disruption to operations.”
The consortium will set these companies up for success and will also offer them LNG solutions including transportation, delivery, storage, gasification, and dispensing of product.
The four branches have not yet stated how much they are willing to invest in the project but construction of liquefaction LNG units typically costs in the region of US$ 40 – 100 million.
Edited from various sources by Ted Monroe
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