Buckeye Partners receives IFM GIF’s interest in Freeport LNG Train 2
Published by Tom Mostyn,
Editorial Assistant
Hydrocarbon Engineering,
Buckeye Partners, LP has announced that the IFM Global Infrastructure Fund (IFM GIF) has contributed its 57.6% equity interest in Freeport LNG Development, LP’s second liquefaction train (Train 2) into Buckeye. On 17 January 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 CEO 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.”
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/22012020/buckeye-partners-receives-ifm-gifs-interest-in-freeport-lng-train-2/
You might also like
The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process
In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.