Enbridge Inc. purchased an equity position in floating LNG infrastructure company Fairwood Peninsula Energy Corp. through an alliance with Delfin LNG LLC said July 1. Fairwood is the parent company and owner of Delfin, which is developing Port Delfin floating liquefaction and export facility in the U.S. Gulf of Mexico (GoM).
Enbridge made a 5% investment in Fairwood and also entered into a joint development agreement to support development of offshore LNG facilities in the GoM.
“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,” Frederick Jones, CEO of Fairwood and founder of Delfin, 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,” Dave Weathers, vice-president of development for Enbridge U.S. Midstream, said.
As a result of the equity position, Enbridge will hold one of the seven board of director seats.
Fairwood Peninsula Energy Corp. is based in Houston.
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