Daily Archives: December 30, 2011

USA: SAC Capital Buys 5.7 Percent Stake in Cheniere

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SAC Capital Advisors, a hedge fund run by US investor Steven Cohen, purchased a 5.7 percent stake  in Cheniere Energy, according to a filing with SEC.

Cheniere is a Houston-based energy company primarily engaged in LNG related businesses, and owns and operates the Sabine Pass LNG terminal and Creole Trail pipeline in Louisiana.

The company has initiated a project to add liquefaction services that would transform the Sabine Pass LNG terminal into a bi-directional facility capable of exporting LNG.

Cheniere recently also announced that it is developing a LNG export terminal at one of the company’s existing sites that was previously permitted for a regasification terminal, located in Corpus Christi, Texas.

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USA: Eastern Shipbuilding Hands Over OSV HARVEY SUPPORTER

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Eastern Shipbuilding Group has delivered the HARVEY SUPPORTER, the first of three (3) 292 ft. Tiger Shark Class Offshore Support Vessels for Harvey Gulf International Marine, LLC.

The HARVEY SUPPORTER is an STX Marine design featuring a DP II SOLAS-classed AC diesel-electric, twin Z-drive Offshore Support Vessel measuring 292’ X 64’ X 24’-6”. Power and propulsion systems, controls, automation, etc. are provided by the system integrator, Converteam, Inc. This high-tech vessel features four Cummins QSK60-DM 16-cylinder turbo-charged Tier II diesel generator engines that are rated 1825 Kw at 1,800 rpm. Main propulsion is provided by two Schottel SRP 2020 FP Z-drives with nozzles rated at 2,500 Kw at 1,025 rpm each for a total of 6,704 hp. Schottel also provided two STT 4 fixed pitch tunnel thrusters rated at 1,180 Kw at 1,170 rpm each with direct coupled electric motors. The vessel is capable of top speeds in access of 12 knots.

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USA: Clean Energy Gets USD 150 Million in Investments

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Focused on supporting natural gas fueling in North America, investors, including Boone Pickens, have invested a total of $150 million in Clean Energy Fuels Corp., North America’s leading provider of natural gas fuel for transportation.

The investments resulted from the exercise of Mr. Pickens’ warrants to purchase 15 million shares of the company’s common stock at $10 per share. Mr. Pickens purchased 1.5 million shares and transferred the balance to existing investors RRJ Capital, Seatown Holdings and Chesapeake Energy Corporation, as well as Chief Capital LP, an investment vehicle wholly owned by energy investor Trevor Rees-Jones.

These investments bring the total invested or committed to Clean Energy to $450 million during 2011,” said Andrew J. Littlefair, President and CEO of Clean Energy. “We see this as a tremendous affirmation of both Clean Energy as the leader in natural gas vehicle fueling in America and our America’s Natural Gas Highway initiative that is expanding natural gas fueling infrastructure in cities throughout the country.”

We have a significant program underway to develop CNG and LNG fueling stations serving fleets in the long-haul, regional and port trucking markets, as well as for solid waste, transit, airport and municipal transportation nationwide,” noted Littlefair.

Currently priced up to $1.50 or more per gallon lower than diesel or gasoline (depending upon local markets), the use of natural gas fuel reduces costs significantly for vehicle and fleet owners, and reduces greenhouse gas emissions up to 30% in light-duty vehicles and 23% in medium to heavy-duty vehicles. Additionally, natural gas is a secure North American energy source with 98% of the natural gas consumed produced in the U.S. and Canada.

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