Canadian company Inter to sell European assets to raise money for its petrochemical unit in Alberta
Canada's Inter Pipeline Ltd said that it will sell a major portion of its European bulk liquid storage business to Spain-based CLH Group for 420 million pounds ($537.73 million). Proceeds from the sale will be used to cut debt, improve the balance sheet and help with Inter's spending plans, including on its Heartland Petrochemical Complex in Alberta, the company said.
The pipeline operator had halted the sale in March, stating potential buyers of the business had been significantly affected by the COVID-19 pandemic and that it was not the right time to pursue a major pan-European transaction.
The sale includes all of Inter's bulk liquid storage and handling assets in the UK, Ireland, the Netherlands and Germany, totaling 15 storage terminals and about 18 million barrels of storage capacity.
After the close of the deal, expected in fourth quarter, Inter will retain its 8 terminals in Sweden and Denmark comprising about 19 million barrels of aggregate storage capacity.
Between mid-2019 and mid-2020, the amount of LNG terminal capacity in construction around the world more than doubled.
Executive Viewpoint: Excelerate Energy sees huge new-market potential for FSRUs
Excelerate Energy is a pioneer and market leader in floating LNG regasification solutions.
Executive Viewpoint: Midstream seeks cost-effective, “fit-for-purpose” solutions amid downturn
-Gregory L. Hall
BCCK Holding encompasses BCCK Engineering Inc., an international natural gas engineering company specializing in nitrogen rejection, nitrogen rejection for landfill gas, NGL recovery, CO2 removal, helium recovery, skidded LNG plants and oxygen removal.
Regional Focus: The role of small-scale LNG in Russia’s energy agenda
-Lorenzo Micucci, John Motta
A number of factors are challenging Russia’s position in the energy markets: the change in the global natural gas landscape, the abundance of gas, expanding LNG trade, and the increased interconnectivity among pipeline systems that makes possible reverse flows.
GasPro 2.0: A Webcast Symposium
Following the successful GasPro Webcast Symposium in October 2019, the third GasPro Webcast Symposium will take place on October 21, 2020.
The 2019 webcast drew attendees from around the world, with more than 80% of the audience working in company management or engineering divisions.
The 2020 web event will gather experts in the fields of LNG, gas processing and process safety to share market, operations and engineering technology and trends with our audience.
Attendees of the 2020 webcast will learn about market solutions and technology deployments in a number of areas: LNG delivery infrastructure, small-scale desulfurization for NGL, H2S removal for gas treating, process safety for safety instrumented systems, small-scale LNG project design, and advances in freeze component removal for LNG.
October 21, 2020 08:30 AM CDT