Canada’s Cryopeak merges with Ferus

Canada’s Cryopeak LNG Solutions, controlled by Texas-based private equity firm BP Energy Partners, has merged with compatriot Ferus Natural Gas Fuels, owned by Texas-based private equity fund Energy & Minerals Group.

The new LNG production and distribution entity is now named Cryopeak Energy Solutions Corporation, according to a statement.

In addition, Cryopeak also acquired all LNG assets from Campus Energy Partners Infrastructure, including the regional LNG production facility located in Dawson Creek, British Columbia.

“Through the merger and acquisition, Cryopeak will be the largest private, vertically integrated, LNG producer and service provider in Canada,” it said.

Cryopeak will manage three LNG production facilities in Western Canada and operate the largest fleet of LNG transportation, mobile storage, and regasification equipment, the firm said.

The firm said this will serve to support the growing market demand for LNG as a “lower carbon fuel”.

Cryopeak said it would “significantly increase its market presence across Canada to support the adoption of LNG for off-grid industries and remote communities.”

Back in 2021, Cryopeak launched its small LNG production facility with a capacity of 27,000 LNG gallons per day in Fort Nelson, British Columbia.

Prior to that, Cryopeak also joined forces with Japan’s Sumitomo Corp to develop an LNG bunkering supply chain in North America’s Pacific Northwest ports.

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