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Canada’s Pieridae Energy Ltd has hired Japanese lender MUFG Bank to help raise US$10 billion for its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia, it told Reuters on Thursday.
The decision to hire a new banker came after Societe Generale SA, its previous financial advisor, committed to phasing out of new shale financing on environmental grounds.
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Societe Generale confirmed it had stopped providing support to both Goldboro and a separate project, Quebec LNG, to limit exposure to shale oil and gas production in North America by 2023.
Canada's Pieridae Energy Ltd has hired Japanese lender MUFG Bank to help raise $10 billion for its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia, it told Reuters on Thursday.
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14 Jan, 2021 Author Corey Paul
New Fortress Energy Inc. s move to acquire Golar LNG Partners LP and Hygo Energy Transition Ltd. represented a bet by the private company on increasing natural gas demand in Brazil and a play for what analysts see as a growing market for investments in infrastructure to supply developing economies with lower-carbon fuels.
The combined $5 billion deal, one of the first big M&A announcements in 2021, netted New Fortress four new LNG import terminals. One of those terminals is active, with the other three in various stages of development. But that will nearly double the LNG import terminals in New Fortress portfolio. The company has five others two in Jamaica, one in Puerto Rico, and two in development in Mexico and in Nicaragua. By buying Golar LNG Partners, New Fortress also acquired interests in other LNG projects around the world, such as the Hilli Episeyo project in Cameroo
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RIO DE JANEIRO (Reuters) - U.S.-based New Fortress Energy Inc said on Wednesday it would buy natural gas company Hygo Energy Transition Ltd for $2.18 billion to expand its presence in Brazil, a frontier for growth in the burgeoning liquefied natural gas market.
New Fortress, an energy infrastructure company, is among the private industry players setting their sights on Brazil, where demand for super-cooled LNG is rising, though the market is smaller than in India and China, where power generators are shifting from dirtier coal to natural gas.
With Brazil opening its natural gas industry to private investors, other companies including oil major BP PLC and U.S.-based EIG Global Partners also plan multibillion-dollar investments in the country.