Oil Patch Bits: Crowley enters liquefied natural gas market

Crowley Maritime Corp.’s petroleum services group said May 8 that it is entering the liquefied natural gas market by acquiring Carib Energy LLC. Florida-based Carib Energy, founded in 2011, was the first company to receive a small scale, 25-year, LNG export license from the U.S. Department of Energy for LNG transportation from the U.S. into Free Trade Agreement countries.

While Crowley’s overall strategic focus on the LNG market will span several of its diversified business lines and leverage its storied history and success in the marine, project management, energy and transportation fields, Carib Energy provides an induction into the emerging energy market from which the company can grow its concentration on LNG transportation.

A Crowley LNG services group has been formed within Crowley’s petroleum services business unit. It is being headed up by Vice President of Business Development Matt Jackson, who reports to Rob Grune, senior vice president and general manager, petroleum services. This team will marshal Crowley’s extensive resources to serve the LNG market through LNG vessel design and construction; transportation; product sales and distribution, and full-scale, project management solutions.

The acquisition of Carib Energy, which becomes a wholly owned subsidiary of Crowley Petroleum Services, now provides Crowley an immediate book of business for the supply, transportation, and distribution of LNG via 10,000 gallon ISO tanks.