Out-Law News | 07 Aug 2014 | 10:53 am |
Houston-based Zenith, which is a developer and operator of terminals that store and distribute petroleum, natural gas liquids and petrochemicals, said expansion opportunities include the storage and logistics for crude oil, refined products, and petrochemicals.
The company said it is also looking for opportunities in logistics and distribution assets that support terminals.
Zenith chief executive officer Jeffrey Armstrong said the company looked forward to developing into a leading international terminaling company (2-page / 96 KB PDF). Armstrong said: “The firm’s deep energy experience and large, global footprint will provide us with the support needed to take advantage of opportunities in the marketplace.”
New York-based Warburg Pincus has more than $39 billion in assets under management. The firm has invested or committed more than $9.5bn across more than 50 energy investments worldwide including oil and gas exploration and production and mining and alternative energy development.
EU energy commissioner Günther Oettinger said earlier this year that “a key element for increasing energy security is of course the completion of the internal energy market and upgrading the gas and electricity infrastructure in the EU".
Lloyd’s Register’s LNG Bunkering Infrastructural Survey 2014 (33-page / 815 KB PDF) indicated that LNG bunkering is likely to “develop fast as global ports get ready for shipping’s gas fuelled future”.