Ocean Point Terminals Announces Arrival of First LNG Carrier and Start of New Business Line

ST. CROIX, U.S. Virgin Islands--(BUSINESS WIRE)-- Ocean Point Terminals (the “Company” or “Ocean Point”), along with New Fortress Energy Inc. (“NFE”), a global energy infrastructure company, announced the commencement of Liquefied Natural Gas (LNG) ship-to-ship transfer operations at Ocean Point’s dock facilities in St. Croix during a ribbon-cutting ceremony 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 in the year.

Ocean Point Terminals CEO Todd Dillabough and USVI Governor Albert A. Bryan, Jr. prepare to cut the ribbon commencing FSU LNG operations at one of the company's marine docks. From left to right: Jeffrey Jones, OPT LNG Project Manager, Capt. John Peacock, OPT Marine Manager, Jeffrey Charles, OPT COO, Todd Dillabough, OPT CEO, Gov. Albert A. Bryan, Jr., USVI Governor, Lt. Jean-Pierre Freeman, USCG Rio St. Croix, Sen. Diane Capehart (D), USVI (Photo: Business Wire)

The announcement of the Company’s new operation follows a 3-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 LNG 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,” added Mr. Dillabough.

About Ocean Point Terminals

Ocean Point Terminals is a world-class energy logistics hub centrally located in the Caribbean facilitating the storage, segregation, blending, and global movement of crude oils, fuel oils, LNG, bunker, gasolines, diesel, jet fuel, and liquid petroleum gases. Customers include integrated global oil majors, global infrastructure/distribution network operators, refiners, and global trading houses. The facility consists of 167 tanks, with a capacity of approximately 34 million barrels, and deep-water access to 11 docks including an offshore single point mooring (SPM) buoy capable of loading and discharging vessels up to VLCC size. Ocean Point Terminals is currently the 5^th largest active marine oil and products terminal in the world.

About New Fortress Energy

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230623582492/en/

Ocean Point Terminals Communications

Phone: (340) 692-3209

Email: communications@opterminals.com

Source: Ocean Point Terminals