Enbridge buys stake in Fairwood LNG
Houston-based Fairwood Peninsula Energy (Fairwood LNG) said that Enbridge has purchased a five percent stake in the midstream LNG company.
Enbridge has also entered into a joint development agreement with Fairwood LNG to assist in the development of offshore LNG facilities in the Gulf of Mexico, the company said in a statement on Wednesday.
Fairwood LNG is the owner of Delfin LNG, which is developing the first floating liquefaction project in the United States to be located in the Gulf of Mexico.
As part of the development agreement, Enbridge will bring its expertise to the table regarding pipeline project management, pipeline operations and sourcing gas to facilities, according to the statement.
As a result of the equity position, Enbridge will hold one of the seven board of director seats.
Image: Delfin LNG