Ocean Point Terminals Announces Arrival of First LNG Carrier, Starts New Business Line

Ocean Point Terminals, St. Croix

Ocean Point Terminals (the Company or Ocean Point) along with New Fortress Energy, Inc. (NFE), which is a global energy infrastructure company, has announced the commencement of Liquefied Natural Gas (LNG) ship-to-ship transfer operations at Ocean Point’s dock facilities on St. Croix during a ribbon-cutting ceremony on Thursday.  The Company welcomed the first LNG carrier to its Dock 8 last week, where it will be moored for transfers on a temporary basis until a permanent operation is established on Dock 6 later this year.

The announcement of the Company’s new operation follows a three-year process to enable LNG carriers to be moored at Ocean Point’s facility for ship-to-ship transfers and creates a new line of business for the Company.  The Liquefied Natural Gas will be transferred from large “supply vessels” to smaller “shuttle ships” for redistribution across the Atlantic region.

“We are very pleased to start this new operation,” said Todd Dillabough, Ocean Point Terminals Chief Executive Officer.  “The start-up of this project will provide broad benefits to St. Croix and the wider region.  Importantly, this project significantly increases access to affordable, reliable, clean LNG fuel in the region to accelerate the regional energy transition.

It also expands Ocean Point’s business, offering to customers, enables additional follow-on business opportunities, builds on Ocean Point’s significant contributions to the U.S. Virgin Islands over the last 57 years, and positions the Company as a key energy logistics hub in the Atlantic Basin for LNG and both sustainable and green tech fuels of the future,” said Dillabough.