Red Stripe signs LNG agreement with New Fortress Energy


Red Stripe signs LNG agreement with New Fortress Energy

Sunday, June 11, 2017

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Red Stripe is set to become the first commercial company in Jamaica to be powered by liquefied natural gas (LNG).

The brewery, which is a part of the Heineken group, on Friday announced a landmark long-term deal including a turnkey supply agreement with New Fortress Energy.

Red Stripe's use of LNG will provide savings of more than US$336,000 per annum and will help the brewer meet its sustainability goals, according to a news release. The project will reduce greenhouse gas emissions by approximately 6,000 tonnes per annum.

LNG will be utilised to power Red Stripe's combined heat and power plant, boosting output by more than 50 per cent. There will also be a conversion of Red Stripe's main steam boilers, which currently use heavy fuel oil, to natural gas, which is proven to be cleaner and more environmentally friendly.

As a result of these conversions, the plant's steam output will also increase by 50 per cent, reducing fuel usage overall on-site.

“The sustainability and operational capabilities that are made possible by LNG make our partnership with New Fortress Energy a win for the environment and our business. Red Stripe continues to focus on changing the way we operate throughout the entire supply chain so that we can deliver on our commitment to making a positive environmental impact,” Ricardo Nuncio, Red Stripe's managing director, stated via the release.

“We are very pleased to ink this unprecedented partnership with Red Stripe, an iconic Jamaican brand,” said Wes Edens, founder and chairman of New Fortress Energy. “Our mission is to be a catalyst for economic growth and environmental gains as Jamaica quickly develops into the premier clean-energy economy in the Caribbean. This partnership with a legendary company like Red Stripe puts us closer to this goal.”

With an expected completion date of September 2017, Red Stripe and New Fortress Energy are making a significant investment in the LNG multimillion-dollar project, which is configured to accommodate twice the plant's current capacity with allowances for Red Stripe's plans for expansion.

New Fortress Energy will supply all the necessary equipment, logistics and employee training to meet both today's and future needs.

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