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.