Enbridge Joins Marubeni, Teekay and Sea NG in Global Alliance for Marine CNG
By Sea Ng Corporation, PRNETuesday, August 31, 2010
CALGARY, Canada, September 1, 2010 - To view the Social Media Release, click here:
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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(TM) 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 of Asia & 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 Corporation is a Canadian company focused on the implementation of
international marine CNG projects using its proprietary Coselle(TM) system.
Sea NG provides a reliable and economic transportation solution to connect
natural gas reserves with regional energy markets. Sea NG's patented
Coselle(TM) 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 Corporation is one of Japan's leading international trading and
investment companies, conducting its operations through a global business
network of 9 offices 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 Corporation is a global leader is 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.
NOTE TO PHOTO EDITORS: A photo accompanying this release is available at
photos.newswire.ca. Images are free to accredited members of the
media
For further information: For further information: Sea NG Corporation -
Canada, Mark D. Behrman, Chief Financial Officer, Tel: +1-403-444-7443, Email:
mbehrman@sea-ng.com; Enbridge Inc. - Canada, Media, Jennifer Varey, Tel:
+1-403-508-6563 or Toll Free: 1-888-992-0997, Email:
jennifer.varey@enbridge.com; Investment Community, Vern Yu,
Tel: +1-403-231-3946, Email: vern.yu@enbridge.com
For further information: For further information: Sea NG Corporation -
Canada, Mark D. Behrman, Chief Financial Officer, Tel: +1-403-444-7443, Email:
mbehrman at sea-ng.com; Enbridge Inc. - Canada, Media, Jennifer Varey, Tel:
+1-403-508-6563 or Toll Free: 1-888-992-0997, Email:
jennifer.varey at enbridge.com; Investment Community, Vern Yu,
Tel: +1-403-231-3946, Email: vern.yu at enbridge.com
Tags: Calgary, canada, Sea Ng Corporation, September 1