SeaOne Granted 30-Year Port Concession In Buenaventura

(SeaOne Holdings, 10.Feb.2021) — SeaOne Holdings, LLC, which is developing various projects for the delivery of US produced natural gas and natural gas liquids (NGLs) to the Caribbean, Central and South America, today announced that Colombia’s National Infrastructure Agency (ANI) has granted and approved an initial 30-year port concession to SOCIEDAD PORTUARIA ENERGÉTICA MULTIPROPÓSITO Y CONTENEDORES PUERTO SOLO BUENAVENTURA S.A (Puerto Solo), a wholly owned subsidiary of SeaOne. The Puerto Solo multi-use energy hub port project is located in the inner bay of Buenaventura, Colombia and is the region’s largest permitted Pacific coast energy hub and multi-use port development.

Puerto Solo Energy Hub Port Complex will facilitate international trade and will receive, store and deliver low emissions fuel and critical energy supplies to the Pacific region of Colombia by providing natural gas, NGL’s, and pipeline infrastructure to store and deliver 1.8 million barrels of fuels to the country’s commodity-constrained market. In conjunction with the Puerto Solo port development, SeaOne affiliates are developing 228 megawatts of low emissions power generation (80 MW in Buenaventura and 148 MW in Pal Mira).

SeaOne Chairman and CEO Forrest Hoglund stated, “Colombia’s vast economic potential is constrained by the need to expand the energy infrastructure to avoid an overall lack of economic development and investment. We are honored and proud to be working seamlessly with the Colombian government to address this persistent impediment to growth and prosperity. The world-class energy hub we are developing at Buenaventura will allow for energy independence in the region and help ensure stability through the importation of clean, efficient, and sustainable fuels. SeaOne is providing a direct connection to the U.S. natural gas and NGLs markets, ensuring long-term lower cost fuels for industry and power generation.”

Commenting earlier on the project, Angela Maria Orozco, Colombia’s Minister of Transportation, stated, “After complying with the requirements of the environmental license, connectivity, and others – which a project of such magnitude requires – the national government, headed by the National Infrastructure Agency (ANI), grants this new port concession that will facilitate international trade and the supply of gas in the interest of public service for all Colombians.”

Mr. Hoglund concluded, “In the short term, our Puerto Solo Energy Hub Port Complex is also a compelling economic development driver in the Buenaventura region. SeaOne’s initial project investment of more than $225mn will help create a large number of construction and sustainable long-term jobs. We look forward to working with federal and local governments and local communities to develop important social programs for the region. We are particularly proud of the small environmental footprint associated with our port and pipeline developments – a benefit that will help the region meet its sustainability objectives.”

Key, defining characteristics of SeaOne’s Puerto Solo Energy Hub Port Complex include:

Phase 1

— Dock and Marine Infrastructure

— an NGL Receiving, Storage and Distribution Terminal

— a Refined Products Import/Export Terminal and Distribution Terminal

Phase 2

— an Integrated Natural Gas and NGL Receiving and Storage Terminal using SeaOne’s patented CGL™ system

— Natural Gas, LPG, and Refined Product Pipelines to Cali