PASCAGOULA — Lightfoot Capital Partners, LP, has teamed up with GE Energy Financial Services to make a strategic investment in the liquefied natural gas market.
Lightfoot Capital will make a direct investment and own a 48 percent interest in Arc LNG Holdings, LLC, which will own a 20 percent interest in Gulf LNG Energy’s terminal in Pascagoula. GE Energy Financial Services, directly and indirectly, controls its 50 percent stake in Gulf LNG while a subsidiary of El Paso Corporation controls the other 50 percent and is the operator.
In a related transaction, GE Energy Financial Services acquired a general partnership interest and a 58 percent limited partnership interest in Lightfoot Capital from certain of its existing investors. Lightfoot Capital is the general partner and majority owner of Arc Terminals, LP, a leading independent operator of petroleum and refined product terminals. Arc Terminals operates petroleum product terminals in eight states, with an aggregate storage capacity of 3.6 million barrels.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info