PE-backed Ferus Natural Gas Fuels buys Encana's LNG plant stake

Ferus Natural Gas Fuels Inc, a portfolio company of U.S. private equity firm The Energy & Minerals Group, has bought Encana Corp's 50% interest in the Elmworth, Alberta, 190,000-litre per day liquefied natural gas (LNG) facility. The acquisition price was not disclosed. As a result of the deal, Ferus has become the owner-operator of the largest merchant LNG plant in Canada and has plans to expand beyond that, the company said. The Elmworth LNG facility, which began as a joint venture between the company and Canadian energy producer Encana, will be operational in May. Based in Calgary, Ferus provides end-to-end LNG and compressed natural gas fueling services.

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