Universal Bioenergy is reportedly in talks with a major manufacturing company in Japan to sell large supplies of liquefied natural gas (LNG).
Universal Bioenergy plans to sell large supplies of LNG to an unnamed Japanese company for future use in power generation and in their manufacturing processes. The Company will be procuring the LNG from producers and refiners in the global energy market to supply the product to the companies in Japan and other countries in Asia.
LNG provides a cost-effective means for transporting natural gas overseas by super-cooling it to a liquid form. The global demand for LNG is expected to increase by more than 50 percent by 2030.
Universal’s Senior Vice President Solomon Ali said, “We have been working for several months to develop strong relationships with several companies in Japan to supply them with LNG, coal and other refined petroleum based energy products, as we expand internationally.”
Universal Bioenergy reported sales of over $60.22 million in its Annual Report for 2013. NDR Energy Group, a subsidiary of Universal Bioenergy, has contracts to supply natural gas to 32 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers in the United States.