InfraStrata plc, the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, has announced that it has entered into a term sheet with West Face Long Term Opportunities Global Master L.P. (the Vendor), conditional on final investment decision (FID), for the acquisition of Meridian Holdings Co., under which sits the proposed Floating Storage and Regasification Unit Project (FSRU Project), located in Barrow-in-Furness, northwest England.
The proposed FSRU Project will be the UK's first to be developed and commercialised. Given that more than 30% of the UK's natural gas supplies arrive via LNG cargoes, the FSRU Project is ideally positioned to take advantage of LNG arriving in the UK and seeking storage and regasification.
