Lightfoot, GE investing in liquefied natural gas market
by MBJ Staff
Published: November 3,2011
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Chris McDaniel gets a thank you note from Travis Childers
- Senate passes teacher pay raise legislation
- Pickering collects more money from failed beef plant project
- Lawmakers debating alternative to Medicaid expansion
- The First acquiring Alabama bank in cash/stock deal
- Todd Smith's Spin Cycle — Not milk! It’s end of era for milk industry’s iconic ‘Got Milk?’ campaign
- States settle with manufacturers in DRAM price-fixing case
- District at Eastover takes shape with financing in place, tenant signings under way
- MBJ's Businesswoman of the Year never expected her career to take this path
- Mississippi ag aviation plays a critical role in production and profitability