NorthStar HoldCo Energy LLC, which is a portfolio company of funds managed by Oaktree Capital Management LP, has reported the expansion of JAX LNG and the construction of the 5,400 cubic metre LNG articulated tug barge unit Clean Canaveral, continue as expected towards being in service by Q4 2021.
In addition, NorthStar recently closed on a $137 million debt financing facility to support these LNG expansions.
NorthStar and its partner at JAX LNG, Pivotal LNG, a subsidiary of BHE GT&S, are tripling the facility’s production capability to 360,000 gallons per day and doubling LNG storage capacity to four million gallons.
The JAX LNG facility has been in service since the fourth quarter of 2018 and, through its integrated LNG marine loading dock, JAX LNG has safely completed more than 150 deliveries of LNG to the Clean Jacksonville bunker barge. JAX LNG has also been servicing additional customers in the shipping, over-the-road trucking and aerospace segments.
“With the excellent support we have from our construction contractors, we are excited to commence our expanded operations, particularly for our new anchor customer beginning its LNG-powered voyages in 2022,” said Tim Casey, senior vice president LNG for NorthStar.
Last week, NorthStar, through a newly formed entity, Seaside LNG Holdings LLC, closed on a $137 million debt financing facility supporting its interest in JAX LNG and Polaris New Energy. Proceeds from the financing will be used to fund construction of the JAX LNG expansion and the ATB.
For more information visit www.jaxlng.com