NorthStar Midstream has announced the formation of Polaris New Energy, a company focused on transporting and distributing liquefied natural gas (LNG) along the nation’s coastal and inland waterways.
NorthStar has made an agreement with Fincantieri Bay Shipbuilding to build a 5,400-cubic-meter barge – and potentially two sister barges – for coastwise LNG transportation. Using a suitable tugboat, the barge will operate as an articulated tug-and-barge unit that will initially run along the East Coast.
Todd Thayse, VP and general manager of Fincantieri Bay Shipbuilding, said, “Entry into the U.S. LNG transportation vessel market has been a strategic interest of our organization. Partnering with NorthStar and its affiliate companies on this project gives us the opportunity to be part of this exciting emerging industry and related market growth. … The hardworking women and men of Fincantieri Bay Shipbuilding are well prepared and eager to begin, providing the eventual on-time delivery and quality the maritime industry has come to know and expect from our shipyards.”