WEB and Eagle LNG enter into landmark clean LNG supply agreement
Eagle LNG Partners LLC (Eagle LNG), a US company based in Houston, Texas and Jacksonville, Florida, has completed a long-term supply contract to establish a liquefied natural gas (‘LNG’) receiving and regasification terminal in Aruba with WEB Aruba, the local power and water utility, according to the company's release. The project confirms Aruba’s growing importance as a regional hub and creates new economic pillars. Today, the deal was confirmed in a signing ceremony attended by the Minister of Labour, Energy and Integration Glenbert Croes and WEB Aruba AI. CEO, Serapio (Laty) Wever.
The Aruba LNG Terminal will serve as WEB’s LNG receiving and regasification terminal for its Balashi power plant. The Terminal will be located at Refineria di Aruba, an existing industrial location, in San Nicolas, Aruba, where LNG from Eagle LNG, will be received, stored and re-gasified with natural gas delivered to the WEB power plant. Using LNG for power generation takes advantage of WEB’s existing investment in dual-fuel engines improving environmental performance and stabilizing fuel rates at historically low prices, while enabling the introduction of more intermittent renewable electricity generation on the island.
The infrastructure investment is approximately US$100 million in Aruba and will create up to 100 local jobs during construction as well as highly-skilled operating jobs with specialized training in critical capabilities required as the world transitions to a net-zero carbon future. The project will introduce low-cost, stable energy to the island and enhance its environmental credentials. By moving to LNG from heavy fuel oil or diesel, there will be a significant reduction in harmful emissions: 30 percent in CO2, 75 percent NOx, 90 percent particulates and 99 percent SOx.
The US Embassy Curacao provided early support for the Aruba project through the US Commerce Department’s advocacy program, which encourages US exports while offering counsel on doing business in a foreign country.
About Eagle LNG
Eagle LNG is a privately held and operated portfolio company of The Energy & Minerals Group. Eagle LNG provides affordable, efficient, and clean-burning energy. It develops small-scale LNG fuelling solutions for marine industries and power generation in the Caribbean and Latin America. Eagle LNG is based in Houston, Texas.
About Utilities Aruba/WEB Aruba
In 1990, the Government of Aruba, as sole shareholder, established Utilities Aruba NV, which became the holding company for both power and water production and distribution. Utilities Aruba acts as the liaison between the Government and working entities. In 2009, the Government of Aruba envisioned a new strategy for its utility companies. This vision, announced at the Rio+20 conference, became Aruba’s flagship policy aim and the primary role of Utilities Aruba NV, which is taking a leading role in supervising this energy transition.