Cryopeak LNG Solutions Corp. and Ferus Natural Gas Fuels Inc. have merged to form a new liquefied natural gas (LNG) production and distribution entity named Cryopeak Energy Solutions Corp.
The new company also has acquired all LNG assets from Campus Energy Partners Infrastructure LP, including the regional LNG production facility in Dawson Creek, British Columbia, Canada.
Through the merger and acquisition, Cryopeak will be the largest private, vertically integrated LNG producer and service provider in Canada.
Cryopeak will manage three LNG production facilities in western Canada and operate the largest fleet of LNG transportation, mobile storage and regasification equipment. This will serve to support the growing market demand for LNG as a lower-carbon fuel. The company will significantly increase its market presence across Canada to support the adoption of LNG for off-grid industries and remote communities.
“We are very excited with the merger and acquisition, which supports Cryopeak in its goal of being a leader in the growing LNG market,” says Calum McClure, CEO of Cryopeak. “With increased production capacity and diverse equipment portfolio, Cryopeak is uniquely positioned to support our customers to integrate LNG safely and efficiently into their operations.”