AG&P makes investment in Kanfer Shipping
Global downstream gas and LNG logistics company Atlantic Gulf & Pacific (AG&P) has made a strategic equity investment in Kanfer Shipping, a developer of small-scale LNG sea transportation, floating storage facilities as well as LNG bunkering.
Kanfer and AG&P will make LNG more accessible and commercially viable for downstream customers in new and growing natural gas markets.
Kanfer has captured the attention of the global LNG maritime infrastructure industry with a unique barge design that makes breaking bulk cargoes of LNG easier, faster, and more efficient.
Its detachable stern vessel (DSV) is used to transport LNG to and from an FSU, FSRU or land-based LNG terminals via a small and maneuverable barge that brings LNG to drop-points up rivers and along coasts.
Karthik Sathyamoorthy, president of LNG terminals and logistics at AG&P, said: “AG&P’s goal is to bring LNG to new markets. One of the missing links has been the capability to break-bulk LNG affordably. Kanfer’s designs unlock these new markets and solve a critical gap in the LNG supply chain for nascent and growing markets.”
Stig Anders Hagen, managing partner at Kanfer, added: “We have worked long and hard at Kanfer to find a real solution to the LNG virtual pipeline – one that stands on its commercial and technical merits. Now, we are honored to be partnered with AG&P […].
“Kanfer will benefit from AG&P’s strong heritage in engineering and infrastructure construction, its deep technical experience and end-to-end execution capabilities in serving customers anywhere in the world.”
Jose P. Ibazeta, director of AG&P, stated: “AG&P has recognized the rapid and accelerating market shift to LNG as a primary fuel for land and marine applications. Three years ago, we invested in Gas Entec, the leading LNG terminal, bunkering and fuel system engineering company, and today in Kanfer Shipping to create a unique and compelling ecosystem for the development of LNG and gas delivery systems.”
According to AG&P, the two companies will offer project owners and customers a fully integrated solution comprising LNG supply, large-scale LNG transportation, large-scale FSU, small-scale LNG shipping for downstream distribution, small-scale FSU, onshore logistics, and a delivered cost to the customers’ doorstep.
Kanfer announced earlier this year that it started a cooperation with ADNOC Shipping & Logistics in the small-scale LNG segment. Later, Japan’s Inpex also joined the cooperation.