Enbridge joins Marubeni, Teekay and Sea NG
Sea NG Corporation announced today that Enbridge Inc. has joined Marubeni Corporation and Teekay Corporation in the Sea NG strategic alliance for the worldwide deployment of Sea NG’s Coselle™ system for the transportation of compressed natural gas (CNG) by ship.
Enbridge is a leader in energy delivery in North America. The company operates the world’s longest oil and liquids pipeline system, and owns and operates Enbridge Gas Distribution, Canada’s largest natural gas distribution company. Enbridge is also actively involved in natural gas transmission and midstream businesses and green energy generation. It is recognized throughout the world for its technical expertise and track record for developing large energy projects, on-time, on-budget and to the highest safety and corporate social responsibility standards. “The addition of Enbridge to the already strong Sea NG Alliance solidifies our ability to execute on all fronts to complete CNG projects for the benefit of our customers,” said Barrie Wright, Chief Executive Officer of Sea NG.
In addition to joining the Sea NG Alliance, Enbridge has become a shareholder of Sea NG, and C.J. (Chuck) Szmurlo Jr., Enbridge Vice President, Alternative & Emerging Technology, has become a member of the board of directors. “Joining the Sea NG Alliance positions Enbridge to participate in an innovative and exciting energy delivery business,” said Mr. Szmurlo. “We see great potential for marine CNG to create significant value for suppliers and consumers of energy in the many markets that are not economically served with LNG or natural gas pipelines. We are pleased to be working with Marubeni and Teekay, both global leaders in their industries, and with Sea NG to develop the world’s first commercial marine CNG projects.”
“We welcome Enbridge into the global alliance” said Masaru Kawata, General Manager ofAsia & Offshore Project Investment Sec., Energy & Chemical Projects Dept., Marubeni Corporation in Tokyo. “We believe that Enbridge’s considerable experience in the operation of gas infrastructure is fully complementary to our abilities in international project development and finance, which will help expedite the final contracting of marine CNG projects that are now under development.”
David Glendinning, President of Teekay Gas Services in Vancouver, stated “With the world economic recovery gaining momentum, I believe that the Sea NG Alliance will be very well positioned to enter the expanding midstream market in 2011.”
The Sea NG Alliance has marine CNG projects in advanced stages of development in numerous countries, with leading producers and consumers that need to transport moderate volumes of natural gas (20 to 500 MMSCF/D--0.6 to 14 MMCM/D) over medium ocean distances (50 to 1100 NM --100 to 2000 KM).
Sea NG Corporationis a Canadian company focused on the implementation of international marine CNG projects using its proprietary Coselle™ system. Sea NG provides a reliable and economic transportation solution to connect natural gas reserves with regional energy markets. Sea NG’s patented Coselle™ system is the only CNG ship fully approved for construction and deployment by the American Bureau of Shipping (ABS). For more information, please visit www.sea-ng.com.
Marubeni Corporationis one of Japan’s leading international trading and investment companies, conducting its operations through a global business network of 9offices in Japan and 118 offices in 71 overseas countries. The company is actively engaged in the handling of products and provision of services in a broad range of sectors. The company's services include importing and exporting, offshore trading and transactions in the Japanese market, related to food, textiles, materials, pulp and paper, chemicals, energy, metals and mineral resources, iron and steel products, and transportation machinery. The company also provides these services to power projects and infrastructure, plants, ships and industrial machinery, real estate development and construction, and finance, logistics and information. Marubeni is well known for its successful record in the implementation of major capital projects worldwide. For more information, please visit www.marubeni.com.
Teekay Corporationis a global leader in energy shipping. Teekay transports approximately 10 percent of the world’s seaborne oil, has built a significant presence in the LNG shipping sector and is further growing its operations in the offshore oil production, storage and transportation sector. With a fleet of over 150 vessels, offices in 16 countries and over 6,100 employees, Teekay provides a comprehensive set of marine services to the world’s leading oil and gas companies, helping them seamlessly link their upstream energy production to their downstream processing operations. Teekay’s reputation for safety, quality and innovation has earned it a position with its customers as The Marine Midstream Company. Teekay’s common stock is listed on the New York Stock Exchange where it trades under the symbol “TK”. For more information, please visit www.teekay.com.
Enbridge Inc. is a Canadian company and one of the Global 100 Most Sustainable Corporations. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has a growing involvement in the natural gas transmission and midstream businesses, and is expanding its interests in green energy technologies, including wind and solar energy projects, hybrid fuel cells and carbon dioxide sequestration. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company and provides distribution services in Ontario, Quebec, New Brunswick and New York State. Enbridge employs almost 6,500 people, primarily in Canada and the U.S. Enbridge's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit www.enbridge.com.