Pennybacker Completes Acquisition of Miami LNG Business, Appoints Daniel McLaughlin President and Chief Commercial Officer
Pennybacker Completes Acquisition of Miami LNG Business, Appoints Daniel McLaughlin President and Chief Commercial Officer
11/21/24, 7:03 PM
Pennybacker Capital Management, LLC has successfully completed the acquisition of the small-scale Florida-based liquefied natural gas production and distribution business (Miami LNG business) from New Fortress Energy Inc. In addition, Daniel McLaughlin has been appointed as President and Chief Commercial Officer to lead the Miami LNG business, which is strategically positioned to support the energy transition in underserved markets and poised for significant growth.
Company Info
Company info
The Miami LNG business is a strategically located small-scale liquefaction operation, equipped with one liquefaction train that produces up to approximately 8,300 MMBtu per day of LNG, optimized for truck and rail logistics to enable efficient and flexible distribution for its customers. It serves the hospitality, industrial, transportation, aerospace, and marine bunkering sectors principally in Florida and the Caribbean islands, providing on average an estimated 15-40% cost advantage over traditional fuels like diesel, making it a cost-effective, reliable, and cleaner energy source.