Cryopeak LNG Solutions Corporation Completes Crucial Delivery Of Liquefied Natural Gas To Northwest Territories

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Jul 07, 2020, 11:00 ET

Marks a commercial delivery of LNG with its new "Super B-Train" to Inuvik, NWT

RICHMOND, BC, July 7, 2020 /PRNewswire/ -- Cryopeak LNG Solutions Corporation, based in Richmond BC, has completed the largest ever delivery of liquefied natural gas ("LNG") by truck in the Northwest Territories ("NWT"), with the shipment being delivered to a power generation facility in Inuvik. The facility is owned by Northwest Territories Power Corporation ("NTPC"), where natural gas is the primary fuel to support this northern community. The delivery is in line with the continued focus of NTPC to make low carbon electricity available across NWT. Moreover, it extends the longstanding relationship between Cryopeak and NTPC, where Cryopeak has delivered LNG reliably to Inuvik for 3 years.

The shipment of LNG totaled approximately 18,000 gallons and was made possible by Cryopeak's proprietary "Super B-Train" transportation trailer. Cryopeak's mission is to provide LNG to remote locations in the most reliable, sustainable and economic manner possible. The Super B-Train and Cryopeak's LNG production facility in Fort Nelson, BC, are critical pieces towards realizing this mission. Cryopeak primarily focuses its fuel delivery efforts on the mining and industrial heating industries as well as in support of power generation in remote communities through commercial partnerships that help their customers reduce carbon footprint, lower energy costs and maximize operational efficiencies.

"It was an incredible journey, both manning the truck, and seeing how far Cryopeak has come in the ability to deliver clean, affordable and reliable natural gas to serve the region," said Blair Mease, who drove the B-Train the 3729 kilometers from point of loading to delivery.

The Super B-Train is designed with up to 70 percent greater load capacity than standard trailers operating in Canada today, improving LNG's competitiveness as a fuel source for remote mining locations and communities. Understanding that transportation often represents the largest cost of LNG for customers, NTPC was eager to work with Cryopeak on this initiative.

"The Government of the Northwest Territories is committed to finding ways to reduce the cost of living for its residents, and we continue to collaborate with the Northwest Territories Power Corporation to look for innovative solutions to do just that. This delivery – the largest delivery of liquefied natural gas this far north in Canada – marks an important step toward making lower carbon electricity available across the NWT," says Katrina Nokleby, Minister of Infrastructure and Industry, Tourism and Investment.

"We are incredibly proud of this achievement. It is the culmination of years of planning to deliver LNG in our Super B-Train to a community located 200 km north of the Arctic Circle and approximately 100 km from the Arctic Ocean. It's a testament to the hard work and dedication of everyone in our Cryopeak team as well as the continued support and shared vision of our financial sponsor, BP Energy Partners," said Aleksandar (Saša) Cook, SVP of Cryopeak.

About Cryopeak LNG Solutions: Cryopeak is the leading distributor of LNG in Canada and currently has a fleet of 16 tanks operating in Canada, as well as equipment and technologies for storage, regasification and fuel dispensing. Cryopeak is ISO 9001 certified and has emergency response plans approved by Transport Canada. Cryopeak was founded in 2012 and is a portfolio company of BP Energy Partners, LLC. More info: www.cryopeak.com

About BP Energy Partners: BP Energy Partners, LLC is a private equity firm focused primarily on middle-market control investments within the Natural Gas Value Chain. In addition to capital, BPEP is dedicated to bringing relationships, management expertise, and operating experience to partner with entrepreneurs, family run businesses and management teams. BPEP's investment strategy is to partner with organizations that provide a solution-oriented approach which increases productivity, decreases costs and provides environmental benefits. BPEP was founded in 2013 and currently manages over $500 million in committed capital. More info: www.bpenergypartners.com

SOURCE Cryopeak LNG Solutions Corporation