TOP STORIES OF THE WEEK
EQT completes sale of Contanda
The EQT Infrastructure II fund (EQT) has completed the sale of Contanda to institutional investors advised by J.P. Morgan Asset Management.
Acquired in February 2013, Contanda is a premier provider of storage and customised storage related services to owners of bulk liquid products, with a strong market position in the petrochemical, renewable energy and agricultural commodity sectors. Headquartered in Houston, Texas, Contanda has 15 terminals in North America with over seven million barrels of total storage capacity and approximately 275 employees. Contanda's terminals are strategically located near deep water ports and transportation infrastructure, providing customers access to critical shipping lanes and distribution networks.
Together…
AIIB funds China’s Binhai LNG terminal development
The Beijing-Tianjin-Hebei Low Carbon Energy Transition and Air Quality Improvement Project, funded by a $500 million investment from The Asian Infrastructure Investment Bank (AIIB), aims to increase the availability of natural gas to help reduce coal consumption and related emissions in the region surrounding China’s capital.
The project is AIIB’s first sovereign-backed financing in China. It involves the construction of an LNG terminal in Binhai District, Tianjin Municipality, covering LNG receiving, storage and regasification facilities and an unloading wharf. AIIB financing will be used in the construction of LNG receiving, storage and regasification facilities. The project will be implemented by Beijing Gas Group Company Limited.
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HES Hartel Tank Terminal development reaches milestone
Construction works on HES International’s 1.3 million cbm HES Hartel Tank Terminal are in full swing.
Significant progress has been made on building the tanks and the related piping and Port of Rotterdam Authority has completed works on the maritime facilities. These facilities have been handed over to HES on December 17, an important milestone for the project.
Port of Rotterdam Authority started construction on the maritime facilities in January 2018. In addition to a 1,200 metre long deep-sea quay wall, a 1,000 metre-long quay wall has been built for inland barges, together with a 350 metre long jetty. At the same time, dredging and earthmoving work have been undertaken, as well as bank and harbour basin protection. Work on all these mar…
Kinder Morgan plans to invest $2.4 billion in expansion projects in 2020
Kinder Morgan (KMI) has announced plans to invest $2.4 billion in expansion projects and contributions to joint ventures in 2020. The company remains committed to maintaining a strong balance sheet it says, investing in attractive projects, and returning value to its shareholders.
Further, as was demonstrated with the sale of the TransMountain system in 2018 and the pending sale of Kinder Morgan Canada Limited in 2019, KMI continues to consider attractive divestitures when they strengthen the balance sheet and improve shareholder value.
“With the expected close of Pembina’s acquisition of the Cochin pipeline and all of KML’s outstanding shares prior to the end of 2019, we expect our year-end 2019 Net Debt-to-Adjusted EBITDA ratio to impro…
KBR wins Dongfang City BPA project contract
KBR has been awarded a contract by Hainan Huasheng New Material Technology to license Mitsubishi Chemical Corporation's (MCC) proprietary Bisphenol A (BPA) technology for a new plant in Dongfang City, Hainan Province, China.
Under the terms of the contract, KBR will provide a Licensing and Basic Engineering Design (LBED) package to Hainan Huasheng for building a grassroots 240,000 tons per annum BPA plant. KBR will also provide commissioning, startup support, and training services for the project.
The BPA technology, licensed by KBR and owned by MCC, provides superior product quality with a minimum long-term cost of production. To date there are more than 600,000 tons per year of BPA produced using this technology.
Doug Kelly, KBR Preside…
