Siemens has acquired a large minority stake in a liquefied natural gas import terminal project in the US.
German electronics and engineering giant Siemens has acquired a large minority stake in a liquefied natural gas import terminal project in the US.
Siemens Financial Services, the group"s US financing unit, has taken a 30% interest in Torp Terminal, the limited partnership which houses the Bienville offshore energy terminal project.
The Bienville project will be located 63 miles south of Dauphin Island, Alabama, in 450 ft of water, and will utilise Torp Technology"s proprietary HiLoad regasification technology for discharging LNG carriers offshore.
John Fredriksen"s Golar LNG is a shareholder in Torp Technology.
Siemens Financial Services Johannes Schmidt, head of equity and project finance, said the company ?recognised in this project another opportunity to invest in an innovative technology.?
Torp Technology chief executive Lars Odeskaug said the HiLoad technology would enable the project ?to safely dock onto any LNG carrier, unload and regasify the LNG at very attractive rates.?