HOUSTON and CORAL GABLES, Fla., Oct. 20, 2015 /PRNewswire/ -- Pentagon Energy LLC, "Pentagon Energy," announced today that it has entered into its first Compressed Natural Gas ("CNG") contract with a leading global Natural Gas merchant. Under the terms of the transaction the buyer has agreed to purchase up to 90 BCF of CNG for a period of 5 years for distribution in the U.S. North East region. Pentagon Energy is planning to develop its first Compressed Natural Gas (CNG) Mother Station in the Marcellus shale region with the ability to compress up to 2.5 BCF per month.
"The buyer is one of the largest participants in the global gas markets and will be a strong foundation customer for our first CNG Mother Station in the US," said Alberto Chiesara, Principal. "Entering into this agreement is a significant milestone for our project and we look forward to working closely with this very important client to make this project a success."
Pentagon Energy is planning to use specially designed CNG Trailer trucks to transport the gas from the Mother Station to different locations in the U.S. North East market. The development of this disruptive technology and the manufacturing was undertaken by its sister company, Composites Advanced Technologies, "CAT CNG," in Houston, Texas.
As currently contemplated, Pentagon Energy is planning to develop several Mother stations in the US to supply CNG to locations that experience gas shortages or lack the infrastructure to receive gas. The Marcellus facility will be the largest of such stations in the U.S.
Pentagon Energy acquired Morgan Stanley CNG export business back in April 2015. "Our aim is to rapidly expand the CNG Mother/Daughter station concept into other local and international markets," expressed Ryan Comerford, Principal of Pentagon Energy.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pentagon-energy-enters-into-a-cng-supply-agreement-for-up-to-90-bcf-300163528.html
SOURCE Pentagon Energy LLC
Source: PR Newswire
(October 20, 2015 - 9:09 PM EDT)
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