IFM Global Infrastructure Fund (IFM GIF) has contributed its 57.6 per cent equity interest in Freeport LNG Development, L.P.’s (Freeport LNG) second liquefaction train (Train 2) into Buckeye.
On January 17, 2020, Freeport LNG announced that Train 2 had successfully begun commercial operations with the commencement of gas deliveries from BP under its 20 year tolling agreement.
“The contribution of IFM GIF’s equity interest in Train 2 is the first step in a broader diversification strategy for Buckeye and further demonstrates IFM’s support of and commitment to Buckeye,” said Clark C. Smith, President and Chief Executive Officer of Buckeye.
“The Train 2 equity interest will meaningfully increase our cashflows as well as decrease leverage. We also would like to congratulate the Freeport LNG team for the successful start-up of Train 2 and commencement of commercial operations.”
For more information visit www.buckeye.com