INTL FCStone Inc. Advises LNG Group Panama, S.A. in Selection of Contractors
NEW YORK, Sept. 9, 2013 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL)
announced today that the investment banking division of its wholly owned
subsidiary, INTL FCStone Securities, Inc., advised LNG Group Panama, S.A. (the
"Company") and its project-level vehicle, Panama NG Power S.A., on the
selection of Duro Felguera, S.A. ("Duro Felguera") as the project engineering
firm for the construction of a combined cycle gas turbine ("CCGT") power plant
and LNG storage and regasification terminal. The Company has also selected
General Electric [Energy] ("GE") as the exclusive equipment supplier for the
CCGT power plant. GE will provide its 7FA.05 latest technology gas turbine.
Duro Felguera is a Spanish engineering, procurement and construction
contractor, with extensive experience in power plants, industrial plants,
ports and fuel storage facilities. Duro Felguera has extensive energy
expertise working in projects with some of the biggest technology firms in the
power industry.Through Felguera-IHI, a joint venture with IHI Corporation, a
Japanese industrial and technology conglomerate, Duro Felguera is also one of
the leading turnkey LNG infrastructure developers in the world. Through the
selection of GE and its 7FA.05 gas turbines, the project has secured one of
the most reliable turbines in the world, delivering increased output and
efficiency while ensuring consistency and availability.GE's technologies will
support the project in providing a clean energy source and competitively
priced power for Panama.GE's installed fleet of nearly 7,000 heavy-duty gas
turbines is the largest installed base of any gas turbine supplier.
Rounding out the consortium of companies assisting the Company on the project
will be Tractebel, a subsidiary of GDF Suez Group, acting as the owner's
engineer overseeing all aspects of project development and acting as an
extension of the Company's staff during construction, and Arthur J. Gallagher
International, dedicated solely to creating tailored risk management and
insurance solutions for the project.
Camilo Salomon, Managing Director of INTL FCStone Securities Inc., commented,
"LNG Group Panama has assembled a first class consortium of companies with an
impeccable track record, capable of delivering on time results. The project
recently entered into 20-year power purchase agreements for a total of 550
megawatts, intended to diversify and strengthen Panama's energy matrix as
demand forecasts significant growth."
About INTL FCStone Securities Inc.
INTL FCStone Securities Inc. provides trading, market making, investment
banking and corporate finance services to customers around the globe. The
investment banking division provides capital raising, mergers and acquisitions
advisory, trade finance and bank loan syndication as well as restructuring and
corporate advisory services to middle market firms in the natural resources,
agriculture, financial institutions, power generation and real estate sectors.
INTL FCStone Securities Inc. (member FINRA/SIPC) is a wholly owned subsidiary
of INTL FCStone Inc. (Nasdaq:INTL).
About INTL FCStone Inc.
INTL FCStone Inc. (INTL) provides execution and advisory services in
commodities, currencies and international securities. INTL's businesses, which
include the commodities advisory and transaction execution firm FCStone Group,
serve more than 20,000 customers in more than 100 countries through a network
of offices in twelve countries around the world.
Further information on INTL is available at www.intlfcstone.com.
CONTACT: INTL FCStone Inc.
Director of Public Relations
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