SeaOne Holdings, LLC Reports Key Development Milestones
HOUSTON, March 5, 2020 /PRNewswire/ -- SeaOne Holdings, LLC ("SeaOne"), a clean energy logistics provider and developer of its patented Compressed Gas Liquid ("CGL™") technology that combines the entire gas stream into one liquid product for delivery to markets, today announced several key developments that underscore the Company's accelerated progress delivering low-cost natural gas and Natural Gas Liquids ("NGLs") to underserved markets in the Caribbean, Central and South America.
Specific updates include the following:
- In January, SeaOne received its second U.S. Department of Energy order for long-term authorization to export U.S. natural gas. This export license includes authorization to export 1.5 billion cubic feet (bcf)/day of natural gas contained in CGL from Corpus Christi, TX, and is in addition to the Company's existing 1.5 bcf/day export authorization from its proposed Gulfport, MS export facility — bringing the Company's total export capacity from its potential facilities to 3.0 bcf/day of natural gas contained in CGL . These production and export terminals represent hundreds of millions in U.S. infrastructure investment and are tied to significant economic investment in key U.S. energy export markets as well.
- Second, SeaOne provided an update on its Puerto Solo Energy Port complex in Colombia that will serve Buenaventura and Colombia's Pacific Coast region with clean, affordable fuels and reliable power. This multi-use energy port development is permitted for the import of 1.8 million barrels of hydrocarbons. Additionally, the Colombian government has awarded SeaOne electricity supply contracts for 228 MWs of power generation under a 20-year guaranteed reliability charge. These generators are expected to provide Colombia affordable, reliable power by initially using propane and long term using natural gas from CGL deliveries. The resulting revenues will support construction of SeaOne's project infrastructure, which includes the U.S. CGL production and export terminal(s) and a Colombia CGL receiving terminal.
Forrest Hoglund, SeaOne's Chairman and CEO, stated, "SeaOne is closer than ever to fulfilling our mission of helping Caribbean, Central and South American countries reduce their dependency on oil-based fuels and securing access to more affordable, reliable, and cleaner fuel supplies. Our strategy to get there is clear: serve key markets with clean, affordable fuels and reliable power supply while, on a parallel path, develop and ultimately provide customers with a wide range of clean fuel options through the delivery of CGL. With export authorization now exceeding 3.0 bcf/day and agreements with power producers and fuel marketers in place, our attention is turning to execution. This includes the delivery of the propane needed for power generation in country and also for commercial markets."
SeaOne also announced two, highly valuable additions to its Advisory Board. These additions include Mr. David Dewhurst, an experienced energy executive who also served as Texas' Lieutenant Governor from 2003-2015; and Mr. Lance Terveen, who currently serves as Senior Vice President for Marketing at EOG Resources.
Mr. Hoglund added, "We are honored that Lt. Governor Dewhurst and Mr. Terveen have joined us in senior and key, strategic capacities. We are confident that their relationships, deep industry expertise, and strategic acumen will be highly beneficial as SeaOne earnestly begins a new phase of construction, delivery and measurable impact in the markets we serve."
About SeaOne Holdings, LLC
Houston-based SeaOne Holdings, LLC ("SeaOne") is a midstream infrastructure and logistics company that leverages its patented technology to reconstitute energy costs in various markets, catalyzing new opportunities for economic growth and environmental stewardship. Specifically, SeaOne's technology optimizes the blending of natural gas and NGLs into a single product cargo. By consolidating multiple distribution channels, the Company's business model requires significantly less investment and lower operating expenses than conventional natural gas and NGL's delivery technologies. The resulting cost savings allows the Company to provide a complete energy value chain, including power generation and bulk storage of fuels. For more information, please visit www.seaone.com.
Perry Street Communications
SOURCE SeaOne Holdings, LLC