OMAHA, Neb. –
Leading independent energy company Tenaska is launching a marketing and
development company in response to the growing use of liquefied natural gas
(LNG) and compressed natural gas (CNG), together NG fuels, in the
transportation sector and among industries using high-horsepower engines.
Chairman of Natural Gas Vehicles for America (NGVAmerica) Doug Clark has signed
on to lead commercial activities for the new affiliate, Tenaska NG Fuels, LLC
(TNG Fuels).
TNG Fuels will
leverage Tenaska’s energy marketing expertise and its 26 years of project
development and commercial financing experience to assist utilities and
customers in the trucking, mining, railroad, vessel and other transportation
industries to realize cost savings and meet new and changing environmental
regulations. TNG Fuels also plans to help customers, manage commodity risk,
build commercial arrangements and strategically site, develop and finance production
and distribution facilities.
“Tenaska is
well-equipped to meet the needs of this expanding natural gas fuels market,”
said Jerry Crouse, Tenaska CEO and vice chairman. “We have customers that have
looked to us for these services. What the industry needs and what we have to
offer are a great match – natural gas pipeline and downstream logistics
expertise, a strong record of energy project siting and development, and a
commitment to customer service in a credit-worthy package.”
Clark is the
former president of the Metropolitan Utilities District (MUD) in Omaha, Neb.,
one of the first municipal utilities to contract with a third party to market
LNG to companies transitioning to the fuel for operations or transportation.
Clark also oversaw the fuel conversion of a fleet of 200 vehicles from gasoline
and diesel fuel to CNG and the development of the infrastructure required to
support it, including several public fueling stations. MUD sales of CNG are on
track to total the equivalent of 400,000 gallons in 2013.
“Doug’s reputation
and experience as an early mover in the NG fuels sector further enhances what
we can offer,” Crouse said.
“The recent
proliferation of shale gas production in the United States has made the use of
natural gas as a transportation fuel very attractive compared to the
traditional diesel fuel used in many types of engines,” Clark said. “MUD saw
this and set out to be the leading provider of NG fuels to the transportation
industry in the Midwest. I was pleased to lead MUD’s early entry into the
market and look forward to leveraging Tenaska’s international reach and strong
reputation in the energy industry to develop and expand NG fuels markets.”
Clark said
Tenaska’s ability to bring a “full solution” to customers in the NG fuels space
attracted him to the opportunity. Tenaska, based in Omaha, is one of the
leading independent power producers in the U.S., with regional offices in
Dallas, Denver, Pittsburgh and Calgary and Vancouver, Canada. Forbes magazine
ranks Tenaska 35th among the largest privately held U.S. companies,
based on 2011 revenues.
Affiliate Tenaska
Marketing Ventures (TMV) provides natural gas commodity, volume management,
hedging and asset management products and services and is consistently ranked
as one of the top 10 natural gas marketers in North America by Platt’s Gas
Daily. TMV sold or managed 2.2 trillion cubic feet of gas in 2012, a volume
equal to about 9 percent of total U.S. gas consumption. For four years, TMV has
been ranked first in gas pipeline trading capacity by Capacity Center, which
monitors and collects capacity and operational information on all interstate
pipelines.
Tenaska BioFuels,
LLC, the company’s renewable fuels and agricultural commodities marketing
affiliate, operates across the U.S. and in 17 countries, handling downstream
logistics (rail, truck and vessel) for a variety of biofuels producers and
agricultural commodity processors.
Tenaska and its affiliates have developed and
constructed approximately 9,000 megawatts (MW) of natural gas-fueled and
renewable power generation, and manage operations for approximately 11,000 MW
of power generation consisting of 14 power plants. The company has raised
approximately $12 billion for project and company-related debt through various
combinations of commercial banks, capital markets and company-partnership
equity.
“Tenaska’s message
to the NG fuels market is pretty simple: You have options. We are ready to be
one of them. And we have a record of delivering value in each of these
services,” Clark said.
About Tenaska
Tenaska,
based in Omaha, Neb., is one of the largest independent energy companies in
North America, with more than 26 years of success in developing electric
generating plants and expertise marketing natural gas, electricity and
biofuels. Affiliate Tenaska Marketing Ventures is ranked as one of the top 10
natural gas marketers in North America by Platt’s Gas Daily and provides
natural gas commodity, volume management, hedging and asset management products
and services. Tenaska BioFuels, LLC provides independent procurement,
marketing, supply chain management, transportation, storage and risk management
to ethanol, biodiesel and agricultural market participants. Tenaska Power
Services Co. specializes in physical power marketing and electric asset
management for utilities and non-utility generators in the U.S. from coast to
coast and in Canada.
The
privately held company also is involved in asset acquisition and management;
fuel supply; natural gas exploration, production and transportation systems;
and electric transmission development. Tenaska affiliates have developed and
constructed about 9,000 megawatts (MW) of natural gas-fueled and renewable
power generation, as well as natural gas gathering lines. Affiliates manage
approximately 37,000 MW of assets on behalf of itself, a variety of customers
and private equity investors. This includes more than 26,000 MW managed for
customers by energy marketing affiliates and approximately 11,000 MW of power
generation consisting of 14 power plants. Seven of those plants are owned by
Tenaska in partnership with other companies and seven are private equity
investments managed by Tenaska Capital Management, LLC. For more information about Tenaska and Tenaska NG Fuels, LLC, visit www.tenaska.com
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