‘A Self-Sustaining Natural Gas Fuels Supply Chain’
Southern California’s Boreas Natural Gas says its has commenced operations as a provider of products, services and customized turnkey solutions for the natural gas fuels market. Boreas was founded by Cem Hacioglu, the former head of Applied LNG.
His goal, states a release, is “a self-sustaining natural gas fuels supply chain which will make natural gas a permanent fixture in America’s energy infrastructure.”
“We will initially focus on the operational and service aspects of the value chain and opportunistically move into the production and distribution segments,” he says in the announcement.
‘Tremendous Buying Opportunities’
Hacioglu pledges to provide both compressed natural gas and liquefied natural gas at competitive prices, and offer customers “a wide variety of service and development options, including the design, build-out, and operation of LNG plants and LNG/CNG fueling stations, as well as fuel storage and dispensing infrastructure for permanent use and temporary special projects.”
“This is the perfect time to invest in this industry where asset valuations are significantly reduced in response to low oil prices, creating tremendous buying opportunities for players with patient capital and longer term strategic vision,” he says.
‘Potential Entrants Are Clamoring’
“Despite the narrowing of the spread between oil and natural gas prices, both the installed customer base and potential entrants are clamoring for customized, turnkey solutions to help them switch to clean burning natural gas in order to create economically sound and environmentally sustainable organizations…
“With our best-in-business technical talent, diversified and balanced revenue model, and highly scalable cost structure,” Hacioglu says, “Boreas Natural Gas is poised to take advantage of these opportunities and become a significant player in the natural gas fuels and services market.
Acquisitions to Come?
“We intend to achieve this goal through organic growth as well as by consolidating sub-optimally managed companies and underutilized assets on a single platform,” Hacioglu concluded.
According to the Theoi Project on Greek mythology, “Boreas was the purple-winged god of the north wind.”
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Source: Boreas Natural Gas with Fleets & Fuels follow-up