| New South Wales small-scale LNG processing plant plan 8/16/10 gasworld.com Following on from last month’s news of the LNG Gladstone project in Australia, the country has announced further investment in LNG. The news came when the Sydney based company, Eastern Star Gas, announced plans to raise A$100m (U.S. $92m) through selling shares to fund a LNG project in the New South Wales state of Australia. The Sydney-based company announced plans yesterday at the Australian stock exchange. During the statement, Eastern Star elucidated its intentions to invest some A$48m of the funds in gas export, gas fields and drilling research. A$59m of the funds raised will enable the construction of a small-scale LNG processing plant in New South Wales. The project is a joint undertaking by Eastern Star Gas and its partners, Hitachi and Toyo Engineering. Their collaborative plans hope to cater for a sudden hike in regional energy demand and, in particular, the small-scale gas needs of South-east Asia. Managing Director of ESG, David Casey, commented, “This announcement represents another important step toward full-scale development of the Narrabi CSG Project. A key advantage of the Kooragang Island site is that it is large enough to accommodate the envisaged initial 1 million tonnes per annum (Mtpa) NLNG project, as well as potential expansion to at least 4 Mtpa.” ESG anticipate that the plant will be on-stream from 2014. The announcement follows-on from a Memorandum of Understanding issued across the partner companies back in May. The initial MoU, released on 24th May 2010, committed the collaboration to investigating the potential for LNG in the Newcastle region. Casey continued, “We identified this site some time ago as an ideal location for our NLNG development plans, and were delighted when an opportunity to acquire it became available. We will pay a non-refundable 10% deposit upfront with the remainder payable in February 2011. If ESG does not receive the necessary approvals for the purchase to proceed under the acquisition agreement, the Company has the option to terminate the agreement until 14th January 2011.” Although a fifth of ESG is owned by Santos, ESG has declined to confirm whether Santos intends to participate in the new project. Instead, Casey spoke of certainty; “The certainty that flows from having access to a dedicated parcel of land allows ESG to proceed confidently with project planning, approvals and commercial activities for the proposed NLNG project with greater confidence.” |
| Caterpillar buying EMD makes Cat a major locomotive OEM Caterpillar has signed a definitive agreement to purchase Electro-Motive Diesel (EMD) for its Progress Rail Services subsidiary from Berkshire Partners LLC and Greenbriar Equity Group LLC. Upon completion of the $820 million cash transaction, EMD will become a wholly
owned subsidiary of Progress Rail. The
acquisition is expected to close by the end of 2010, pending
final regulatory approvals. EMD, which had 2009
revenues of $1.8
billion, will remain headquartered in LaGrange, Ill. John Hamilton will
continue as president and CEO of EMD and will report to Billy
Ainsworth, Progress Rail CEO.Meanwhile, a little further south in Illinois, Caterpillar has come out of the recession with its coffers blazing. It followed up its March purchase of GE Transportation’s Inspection Products Business, and its May buy of FCM Rail, with the acquisition of EMD in June. Think Cat feels rail is a moneymaker in the future? EMD is huge on two levels. Remanufacturing is a big deal at Cat these days and EMD provides them with one of the largest installed bases of locomotives in the world. A lot of remanufactured, parts and service opportunities. Plus, buying EMD makes Cat a major locomotive OEM. And Cat likes to be The OEM in just about everything it does. How long before Cat engines show up in EMD locomotives? A lot of people were puzzled by Cat’s acquisition of Progress Rail. The strategy is now suddenly real clear. Cat is also a company that — especially these days — doesn’t like to lose at anything. It wanted to buy Terex Mining last year, but not at any price, only to see Bucyrus International grab it for $1.2 billion — a figure Cat thought was too high. So it turned around and is spending $700 million to re-enter the mining shovel market, not coincidently in sizes that almost directly compete with the Terex-Bucyrus shovels. Further, it is accelerating just about everything it does with mining trucks, also a big part of the Terex-Bucyrus deal. While Cat would never say officially that these things are linked, they are. Mining is real important in Peoria, and not a place where they take competition casually. Then the much-discussed work trucks being built with Navistar! Electro-Motive Diesel, Inc., also referred to as "EMD" privately held company that designs, manufactures and sells diesel-electric locomotives and diesel power engines worldwide under the Electro-Motive brand. EMD is the second-largest builder of diesel-electric locomotives after ceding sales superiority to General Electric in 1989. EMD traces its roots to the Electro-Motive Engineering Corporation, founded in 1922, and was formerly the EMD of General Motors Corporation. Greenbriar Equity Group LLC, Berkshire Partners LLC and certain related parties formed the current company, EMD, to facilitate the purchase of the EMD from General Motors in 2005. EMD, Inc. is incorporated in the state of Delaware as a general, domestic corporation. On June 1, 2010, Caterpillar Inc. announced that it planned to acquire EMD for $820 million. EMD will be merged into Caterpillar's Progress Rail Services division. EMD's headquarters, engineering facilities and parts manufacturing operations are located in La Grange, Illinois, United States. EMD's final assembly operations are located in London, Ontario, Canada. As of 2008, EMD employs approximately 3,260 people worldwide. Progress Rail Services division Progress Rail Services Corporation, based in Albertville, Alabama, is a supplier of products and services to the rail and transit industry. The company was founded in 1982 and is currently a subsidiary of Caterpillar Inc., being acquired in 2006. The company is made up of two divisions: Engineering & Track Services and Locomotive & Railcar Services. Progress Rail currently operates facilities throughout the Americas: some 110 facilities in the USA, 4 in Canada, 34 in 15 Mexican states, and 2 plants in Brazil. History Progress Rail was founded in 1982. The company became a division of Progress Energy in 2000 as a result of the merger of Carolina Power & Light Company and Florida Progress Corporation. In February 2005, Progress Energy announced that it was selling Progress Rail to One Equity Partners for $405 million. The sale closed on March 28, 2005, with Progress Rail becoming a separate private company. On May 17, 2006, Caterpillar announced that it would buy Progress Rail from One Equity Partners for $1.0 billion in cash, stock and debt. The acquisition by Caterpillar was announced as part of its long-term strategy known as Vision 2020. Brazil-based MGE In 2008, Caterpillar bought Brazil-based MGE Equipamentos & Serviços Ferroviários Ltda. and quickly repositioned MGE as a division of Progress Rail. The acquisition of the 17-year-old company marked Progress Rail's first entry into the South American market. Progress Rail Services has an exclusive distributor agreement with a major rail supplier in Australia. Progress Rail Services
to Acquire EMD, Creating Global Locomotive Manufacturing and Rail
Services Company
Albertville, Alabama, USA, (June 1, 2010) Progress Rail Services has signed a definitive agreement to purchase Electro-Motive Diesel (EMD) for $820 million in cash from Berkshire Partners LLC and Greenbriar Equity Group LLC. Upon completion of the transaction, EMD will become a wholly-owned subsidiary of Progress Rail. Progress Rail is a wholly-owned subsidiary of Caterpillar Inc. (NYSE: CAT). "This acquisition represents the latest step in our strategic plan to aggressively grow our presence in the global rail industry," said Caterpillar Vice Chairman and CEO-Elect Doug Oberhelman. "Including today’s announcement and our acquisition of Progress Rail, Caterpillar has invested about $2 billion since 2006 to grow our profitable rail and transit businesses. Rail has proven to be a highly efficient and sustainable method for moving freight and people, and we see a positive long-term future for the continued growth of the rail industry." Progress Rail Services is one of the largest providers of rail and transit products and services in North America, including: locomotive upgrade and repair, railcar remanufacturing, trackwork, rail welding, rail repair and replacement, signal design and installation, maintenance of way equipment, parts reclamation and recycling. "The acquisition of EMD will enable us to provide rail and transit customers an industry-leading range of locomotive, engine and emissions solutions, as well as unmatched aftermarket product and parts support and a full line of rail-related services and solutions," said Progress Rail CEO Billy Ainsworth. With 2009 revenues of $1.8 billion, EMD has the largest installed base of diesel-electric locomotives in the world and offers the most extensive range of locomotive products in the rail and transit industry. "We feel this is an ideal fit for EMD and our customers and we look forward to developing and providing an even greater portfolio of products and services for the rail and transit industry that we have proudly served for more than 85 years," said John S. Hamilton, president and CEO of Electro-Motive Diesel. "We are very proud to have had the opportunity to partner with EMD’s management in rebuilding this rail industry icon," said Regg Jones, managing partner of Greenbriar. "Having redirected the company’s strategy and restored EMD back to strong operating and financial footing, we are confident EMD will continue its growth and success with Progress Rail." Richard Lubin, managing director of Berkshire Partners, added, "Our objectives coming in were to transition EMD to a strong, independent company focused on its customers, invest in EMD's technology and capabilities and drive operational improvement. We are delighted Progress Rail will be the new owner of this business." The acquisition is expected to close by the end of 2010, pending final regulatory approvals. EMD will remain headquartered in LaGrange, Ill. John Hamilton will continue as president and CEO of EMD and will report to Billy Ainsworth. About Progress Rail:Progress Rail Services, a wholly-owned subsidiary of Caterpillar Inc., is a leading supplier of remanufactured locomotive and railcar products and services to the railroad industry, operating one of the most extensive rail service and supply networks in North America. We serve our customers through a network of more than 125 locations across the United States, Canada, Mexico, Brazil, Italy, Germany and the United Kingdom, with more than 4,300 employees. Progress Rail Services is headquartered in Albertville, Ala. For more information, visit www.progressrail.com. About Electro-Motive Diesel, Inc.:Founded in 1922, Electro-Motive (EMD) is one of two U.S. original equipment manufacturers of diesel-electric locomotives. Headquartered in LaGrange, Ill., with additional facilities in London, Ontario, and San Luis Potosi, Mexico. EMD designs, manufactures and sells diesel-electric locomotives for all commercial railroad applications and has sold its products in more than 70 countries worldwide. The company is the only diesel-electric locomotive manufacturer to have produced more than 70,000 engines and has the largest installed base in both North America and worldwide. In addition to its manufacturing activities, EMD has an extensive aftermarket business offering customers replacement parts, maintenance solutions, and a range of value-added services. The company is also a global provider of diesel engines for marine propulsion, offshore and land-based oil well drilling rigs, and stationary power generation. Additional information can be found at: www.EMDiesels.com. About Caterpillar:For more than 85 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent. With 2009 sales and revenues of $32.396 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. More information is available at: www.cat.com. About Berkshire Partners LLC:Berkshire Partners, the Boston-based private equity firm, has invested in leading mid-sized companies for over 25 years through seven investment funds with aggregate capital of $6.5 billion. Berkshire has developed specific industry experience in several areas including retailing, consumer products, manufacturing, transportation, energy, business services and communications. Representative investments include Amscan/Party City, Bare Escentuals, Carter's, Crown Castle International, NEW Asurion and TransDigm. Since the mid-1980s, Berkshire has invested in over 100 companies with approximately $20 billion of acquisition value and combined revenues of over $22 billion. Berkshire seeks to invest $50 to $500 million of equity capital in each portfolio company. For additional information, visit www.berkshirepartners.com. About Greenbriar Equity Group LLC:Greenbriar Equity Group LLC, a private equity firm with $1.5 billion of committed capital, focuses exclusively on the global transportation industry, including companies in freight and passenger transport, aerospace and defense, automotive, logistics, and related sectors. Greenbriar invests with superior management teams who are interested in being significant equity owners in their companies as well as with corporate partners who are interested in raising capital. Greenbriar’s managing partners bring many decades of experience at the highest levels within the transportation industry. Additional information may be found at www.greenbriarequity.com. |
|
The presidents of Azerbaijan,
Georgia, and Romania are
going to meet in Baku in September as part of the three countries’
joint natural gas supply project AGRI, Sofia News Agency’s Novinite
website reported Friday. The three heads of state will come
together in Baku on Sept. 14, to discuss the progress of gas
transportation project Azerbaijan-Georgia-Romania Interconnector,
AGRI.According
to the Ministry of Industry and Energy of Azerbaijan, the purpose of
the meeting is to support the project, reported the Azerbaijan Business
Center. During the summit the three countries’ leaders are expected to
sign a so called “Baku Declaration,” throwing their full weight behind
AGRI. The Baku Declaration will be drafted at an experts’ meeting
on
Sept. 6, and will be finalized on Sept. 13 by the relevant ministers of
Romania, Azerbaijan, and Georgia. The high-profile nature of the Baku
summit will be reinforced by the expected attendance of European
Commission President Jose Manuel Barroso and EU Commissioner for Energy
Guenter Oettinger.
The Memorandum on Understanding between the governments of Azerbaijan, Georgia and Romania on cooperation for the supply and transit of liquefied natural gas from Azerbaijan to Romania was signed in Bucharest on April 13. Terminals for liquefied natural gas will be set up in Romania’s Constanta and Georgia’s Kulevi on the Black Sea within the framework of AGRI Project. Natural gas from Azerbaijan will be transported to the Black Sea coast for compression at special terminals, and will then be shipped by tankers to the Constanta port terminal. From there, it will be consumed in Romania or transported to other European countries. The Azerbaijan Business Center reports that two pipelines from Constanta – one to Bulgaria, and another one to Hungary – are expected to be built in order to provide for the further transit of the natural gas delivered to Romania. The launch of the AGRI project has demonstrated how the Bulgarian government is lagging behind Romania, as Bulgaria has also been involved in talks with Azerbaijan and Georgia for the transit of compressed or liquefied natural gas.The Director of Bulgartransgaz, a subsidiary of the Bulgarian state company Bulgargaz, Ivan Drenchovski, has announced after a meeting of a Bulgarian-Azerbaijani government working group that Bulgaria is going to develop two gas supply routes from the energy-rich Caucasus nation to its territory – a land route via Turkey, and a Black Sea route similar to the AGRI project. Romania, however, has already taken the lead in the latter, and it is unclear whether Bulgaria might still go ahead with deal with Georgia and Azerbaijan for liquefied natural gas terminals in the Black Sea if the AGRI project becomes operational and can supply it with Azerbaijani gas via Romania. |
 India
Cutting-edge
technology for Maruti new CNG models8/14/10 NGVJournal India's largest OEM launched today its Intelligent-Gas Port Injection (i-GPI) system in five of its popular compressed natural gas models. "We are confident that customers would value our system, which is safe, reliable, clean, responsive and environment friendly. Adapting CNG technology in our vehicles is another step to keep low cost of ownership for our clients," said Maruti Suzuki chairman RC Bhargava. According to the company’s press release, the i-GPI bi-fuel technology ensures more power vis-à-vis retro-fitted CNG vehicles and offers a similar ride experience to a petrol-fuelled engine while achieving high fuel efficiency. In addition, as the CNG technology is factory fitted, customers will enjoy the full warranty benefits including extended warranty. The compressed natural gas vehicles, which include SX4, Eeco, WagonR, Estilo and Alto, were unveiled by Minister of State for Environment & Forests Jairam Ramesh and are being launched in Delhi National Capital Region, Mumbai and Gujarat. The vehicles were tested with all the quality checks, processes and systems similar to a regular car manufactured at Maruti Suzuki plants. “This is the first instance when an OEM develops and launches factory-fitted technologically superior CNG engines in India. This fuel is environment friendly and also reduces the country’s dependence on imported fuels. Maruti Suzuki’s big ticket entry into CNG fuel segment augurs well for the environment,” said managing director and CEO Shinzo Nakanishi. 2010-08-13 |
| Florida's district
introduces 10 New CNG school buses/year 2010-08-13 NGVJournal Leon County has received the first 8 new buses running on compressed natural gas for its school district. By replacing the old diesel-powered fleet with these units, the district aims to reduce its carbon footprint and use a domestic source of energy. “There are no emissions into the atmosphere. This is a CNG bus, you can walk behind and never smell a fume. Additionally, we are going to save about 5 thousand dollars a year per bus on the fuel, this is a cheaper fuel, so we are very excited about this,” said director of the Leon County School's Energy Dept Manny Joanos, during the traditional ribbon cutting. Not only they are energy efficient, but also the new buses were built with safety in mind, equipped with seat belts, for teens, down to small children. It is worth mentioning that the district expects 6 more CNG-powered school buses for the next month, while they will be adding 10 more each year. In addition, by 2012 another compressed natural gas dispenser will be opened in Tallahassee, the county’s main city. Leon County is the first Southeast district to use natural gas to power its school bus fleet. Two months ago, Los Angeles Unified School District (LAUSD), in the southwest coast, had made a significant purchase of 130 CNG buses. |
 Italy; Atac Roma
introduces 24 new CNG buses8/13/10 NGVJournal The Italian public transport company has recently presented these methane-powered units for its line 80 Express. These are 12-metres "Citelis CNG" buses, properly equipped to transport people with reduced mobility. The vehicles, which meet the EEV (Enhanced Environmental-Friendly Vehicles) standards and whose performance exceeds the current rules regarding polluting emissions, will replace the 18-metres “jumbo” buses, more polluting and less suitable to operate through Rome streets. It is worth mentioning that last year and after an agreement with the Capitol, Atac Roma had already begun replacing its “jumbo” buses in routes 40 and 60 Express and in the 170. “Making Rome a friendlier and less polluted city, especially in the public transport sector, is a priority for this administration, which is working hard to improve service,” said mobility commissioner of Rome city council Sergio Marchi. The official also stated that the new buses of line 80 Express, which connects piazzas San Silvestre and piazza Ottaviano Vimercati, will deliver a better response to real demand of passengers during rush hours, in areas where traffic required should be less invasive than 18-metre units service. |