| CHICAGO, Sept 17
CHICAGO, Sept 17 A company backed by Texas oil
man T. Boone Pickens that provides natural gas as transportation
fuel is partnering with Canada's Ferus Natural Gas Fuels, GE
Ventures and GE Energy Financial Services to jointly deliver
liquefied natural gas in the United States.
The consortium, called Eagle LNG Partners, will develop
regional LNG projects to meet industry demand for long-haul
trucking, rail, mining, marine, and oil and gas services, a
spokeswoman for Ferus Natural Gas Fuels told Reuters.
Clean Energy Fuels Corp is the Pickens-backed part
of the venture, which is expected to be unveiled Wednesday at
the High Horsepower Summit in Chicago.
Natural gas, which roughly translates into cost savings of
about 20-40 percent for companies as an alternative to diesel
fuel, is being adopted by many industries in the United States
as they look to cut costs and reduce carbon emissions.
But critics say the extraction of natural gas releases
methane, a greenhouse gas that can be more harmful in the long
run than the carbon released by burning other fuels.
Clean Energy Fuels, based in Seal Beach, California, builds
and operates compressed natural gas and liquefied natural gas
fueling stations. It also makes compressed natural gas and
liquefied natural gas equipment and converts vehicles to natural
The companies declined to say how much they would invest in
the project. They said that, depending on production volumes,
LNG liquefaction plants cost between $40 million and $100
million to build.
Eagle LNG Partners currently is considering projects in
Florida, Washington, Colorado, North Dakota, Ohio and Texas, the