Arroyo invests in LNG liquefaction, bunkering program
08 February 2023
Houston-based Arroyo Investors has closed an investment in Seaside LNG and its affiliated entities, including an integrated shore-side liquefied natural gas (LNG) liquefaction and bunkering platform in the US.
Seaside LNG and its affiliated entities own interests in two separate operating businesses included in the Arroyo deal. The first interest is a 50% ownership stake in JAX LNG, LLC, which is a small-scale LNG liquefaction facility in Jacksonville, Fla. The site produces 360,000 gallons of LNG per day. The second interest is a 100% ownership stake in an LNG bunkering barge operation through Polaris Energy.
Arroyo, an independent investment manager in the energy industry, said the investment will expand its portfolio of transportation and storage infrastructure assets.
“We believe this investment represents a differentiated opportunity for Arroyo to own and operate infrastructure assets that are strategically positioned to help facilitate the global marine industry’s transition from traditional heavy fuel to cleaner LNG,” said Brandon Wax, managing director at Arroyo. “As an economic and environmentally-friendly fuel supply alternative, we believe LNG is a key component in the transformation of the energy landscape, and Seaside LNG is well-positioned to lead the way by supplying LNG to its customers.”
Arroyo employed Credit Suisse Securities (USA) LLC as exclusive financial advisor.
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