(BRK.A), (BRK.B)
Berkshire Hathaway’s JAX LNG is expanding its natural gas production and storage facility at the Jacksonville Port Authority (JAXPORT) in Jacksonville, Florida.
JAX LNG, a joint-venture between Berkshire Hathaway’s Pivotal LNG and its partner NorthStar HoldCo Energy, LLC, are expanding JAX LNG and building a 5,400 cubic meter LNG articulated tug barge unit, the Clean Canaveral.
Pivotal LNG, a subsidiary of BHE GT&S, and NorthStar, are tripling the facility’s production capability to 360,000 gallons per day and doubling LNG storage capacity to four million gallons.
“With the excellent support we have from our construction contractors, we are excited to commence our expanded operations, particularly for our new anchor customer beginning its LNG-powered voyages in 2022,” said Tim Casey Senior Vice President – LNG for NorthStar. “The expansion of JAX LNG and the construction of the Clean Canaveral will allow us to supply our existing customers, take on new customers and deliver LNG to points anywhere from Savannah, Georgia to Miami, Florida. The market for LNG as a bunker fuel is accelerating as more LNG powered ships are put into service. JAX LNG and Polaris New Energy are prepared to support the shipping industry’s important effort to reduce its carbon footprint by using LNG, an environmentally friendly fuel that can reduce greenhouse gas emissions by over 20 percent.”
The JAX LNG facility has been in service since the fourth quarter of 2018 and, through its integrated LNG marine loading dock, JAX LNG has safely completed more than 150 deliveries of LNG to the Clean Jacksonville bunker barge.
JAX LNG has also been servicing additional customers in the shipping, over-the-road trucking and aerospace segments.
About JAX LNG
JAX LNG, LLC is a joint venture between Berkshire Hathaway’s Pivotal LNG, a subsidiary of BHE GT&S, and NorthStar Midstream, operating a 120,000 gallon per day LNG plant with 2 million gallons of storage in Jacksonville, FL. The LNG facility was constructed to bring liquefied natural gas to the southeast U.S. and Puerto Rico.
Berkshire Hathaway acquired its stake in the facility as part of its $9.7 billion acquisition of Dominion Energy’s natural gas transmission and storage business in 2020.
© 2021 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.