Atlantic, Gulf and Pacific Co. (AG&P), a global infrastructure solutions provider for energy, natural resources and other industrial companies, has announced a major investment in GAS Entec, a pioneering, Korea-based engineering and design firm dedicated to small- and mid-scale liquefied natural gas (LNG) applications.
Together, AG&P and GAS Entec provide a suite of onshore and floating products for the distribution and use of LNG, such as LNG-fueled power solutions, LNG storage, regasification, LNG fuel bunkering, next-generation mooring structures and cold storage applications.
GAS Entec engineered critical systems in the first LNG bunker vessel ever built in North America that will serve the port of Jacksonville, Fla.
“The dramatically lower cost of LNG, coupled with the advent of new, affordable technologies such as those developed by GAS Entec have fostered a revolution in LNG applications,” says AG&P’s chairman, Jose P Leviste Jr. “No longer is LNG-fueled power the exclusive domain of the largest utilities. It is also avaliqueilable to a generation of innovative developers, power companies, ship owners, fishing fleets and others in a way that LNG has not been before.”
“We are seeing the democratization of LNG,” he adds. “Therefore, this equity partnership between AG&P and GAS Entec will contribute strongly to pushing the boundaries of this new, revolutionary industry.”
“Together, we will deliver the full design, engineering, construction and assembly, including the integration of sub-components, such as cargo handling and control systems for various small- and-mid scale LNG vessels,” says Kwak Chong-Ho, CEO of GAS Entec. “Operating as an integrated, one-stop-shop, we will bridge the critical gap in LNG distribution and its applications globally. We remain an engineering company that can work with any customer, but the partnership with AG&P allows certainty, speed and commercially reasonable terms for our customers.”