Alder Midstream Announces New Initiatives

Alder Midstream (Alder), owned and operated by Glenfarne Group, has announced several new initiatives focused on building, owning and operating midstream assets in the U.S.

Alder Midstream closed the acquisition of IACX Energy LLC (IACX), a natural gas gathering and processing business, from midstream private equity firm Haddington Ventures, LLC.

Headquartered in Dallas, Texas, IACX operates three gathering and processing systems focused on natural gas, natural gas liquids and helium across the Mid-Continent region and New Mexico. The business features six processing plants and over 4,000 miles of gathering pipelines, inclusive of a bolt-on acquisition that IACX completed concurrent with the purchase by Alder. The IACX business will continue to be led by CEO Rex Canon, who brings nearly three decades of senior executive experience in the energy industry, including deep expertise across natural gas gathering and processing in the Americas.

Alder Midstream is also the majority owner and Managing Member of Texas LNG Brownsville, LLC (Texas LNG), a $3.5 billion late-stage LNG export development project in Brownsville, Texas.

Texas LNG received authorization from the Federal Energy Regulatory Commission (FERC) on November 21, 2019 to site, construct and operate an LNG export facility along the Brownsville Ship Channel in Brownsville, Texas. Texas LNG has export permit capacity up to 4 MTA (million tons per annum) and has signed detailed non-binding term sheets with state-owned and private enterprise customers from Asia and Europe for cumulative total volumes exceeding 2 MTA.

Texas LNG leadership includes co-Founders Vivek Chandra and Langtry Meyer, who collectively bring over 50 years of experience in the international energy markets.

Midstream Infrastructure

According to the 2018 Interstate Natural Gas Association of America (INGAA) Foundation, Inc. report on “North America Midstream Infrastructure through 2035,” approximately $900 billion of greenfield infrastructure capital expenditures are required to capitalize on the U.S.’s growing natural gas production and meet global demand through 2035.

While new supply basins continue to emerge, the industry requires additional infrastructure across the supply chain to ensure demand is met.

“As global energy demand grows with emerging technologies, clean-burning natural gas is expected to represent nearly half of new energy consumption over the next several decades, and demand for natural gas liquids and helium is expected to remain high as well,” said Brendan Duval, Founder and Managing Partner of Glenfarne Group. “Alder Midstream is focused on improving existing gas infrastructure assets and constructing new projects to facilitate gas flow globally.”

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