With acquisition of Carib Energy
Crowley Maritime Corporation is entering the Liquefied Natural Gas (LNG) market by acquiring Carib Energy LLC. Florida-based Carib Energy, founded in 2011, was the first company to receive a small scale, 25-year, LNG export license from the U.S. Department of Energy (DOE) for LNG transportation from the U.S. into Free Trade Agreement (FTA) countries. As part of the acquisition, Carib Energy President Greg Buffington, will join Crowley as vice president of Carib Energy.
The new team will marshal Crowley’s resources to serve the LNG market through LNG vessel design and construction; transportation; product sales and distribution, and full-scale, project management solutions.
“Crowley has a myriad of business lines, each with overlapping expertise perfectly positioned to develop a strong footprint in the LNG market,” said Tom Crowley, company chairman and CEO. “Whether it’s designing the next LNG bulk transport vessel, transporting ISO tanks via Crowley’s regularly scheduled liner service, arranging special carriage via our global logistics network or providing project solutions for LNG discovery and extraction; Crowley has the service portfolio to provide turnkey solutions within the LNG space.”
Carib Energy is also cementing its involvement in future LNG fuel bunkering for ships transiting between the U.S. and Caribbean markets.
Source: Crowley