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WEB and Eagle LNG energy trading are catalysts for Aruba's growth, prosperity and environmental improvement

Oranjestad, Aruba, December 9, 2021/PRNewswire/ - Eagle LNG Partners LLC (Eagle LNG), an American company headquartered in Houston, Texas and Jacksonville, Florida, has been established The long-term supply contract for liquefied natural gas ('LNG') receiving and regasification terminals are in Aruba and WEB Aruba, local power and water utility companies. The project confirmed the increasing importance of Aruba as a regional hub and created a new economic pillar. Today, the transaction was confirmed at a signing ceremony attended by the Ministers of Labor, Energy and Integration Glenbert Croes and WEB Aruba AI. Chief Executive Officer of Serapio (Laty) Wever.

The Aruba LNG terminal will serve as the LNG receiving and regasification terminal for WEB's Balashi Power Plant. The terminal will be located in the existing industrial area of ​​Refineria di Aruba in San Nicolas, Aruba, where the liquefied natural gas from Eagle LNG will be received, stored and regasified, and the natural gas will be delivered to the WEB power plant. The use of LNG for power generation takes advantage of WEB’s existing investment in dual-fuel engines to improve environmental performance and stabilize fuel rates at the lowest price in history, while introducing more intermittent renewable energy power generation on the island.

"Liquefied natural gas is in line with WEB Aruba's vision of cleaner, more environmentally friendly and fuel-free oil production. We are working hard to achieve sustainable desalination and energy production and supply. We welcome LNG as a transition fuel and should eventually be 50% renewable Energy mix and 50% alternative fuels," WEB Aruba AI said. Chief Executive Officer of Serapio (Laty) Wever.

The infrastructure investment in Aruba is approximately US$100 million, which will create up to 100 local jobs during the construction period, as well as high skills in professional training in key capabilities required as the world transitions to a net-zero carbon future Operational jobs. The project will introduce low-cost, stable energy to the island and improve its environmental reputation. By switching from heavy oil or diesel to LNG, harmful emissions will be significantly reduced: 30% carbon dioxide, 75% nitrogen oxide, 90% particulate matter, and 99% sulfur oxide.

Sean Lalani, President of Eagle LNG, said: “We are committed to investing in the Caribbean Basin and are honored to have signed another large-scale LNG project agreement, this time on Aruba. Together with the recent Agreements reached elsewhere in the Caribbean Basin, including the new terminal in Antigua, further confirm that Eagle LNG is a reliable partner of choice for natural gas in the region. The LNG import terminal will generate more environmentally friendly energy and support the addition of more energy. Renewable energy, lower operating and maintenance costs, and stable, historically low-cost fuel supply. In addition to economic and environmental benefits, the transition to LNG power generation will become a catalyst for Aruba’s new economic pillar. We look forward to becoming Aruba for many years a part of."

"For Aruba, who loves the environment, this is an extremely important project. It will produce energy based on clean energy, thereby reducing the cost of hydropower and benefiting Aruba as a whole," Aruba Labor and Energy Minister Glenbert Croes said and integrated.

The U.S. Embassy in Curaçao provided early support for the Aruba project through the U.S. Department of Commerce’s advocacy program, which encourages U.S. exports and provides consulting for business in foreign countries.

About Eagle LNG Eagle LNG is a privately held and operated portfolio company of The Energy & Minerals Group. Eagle LNG provides affordable, efficient and clean energy. It develops small-scale LNG fuel solutions for marine industry and power generation in the Caribbean and Latin America. Eagle LNG is headquartered in Houston, Texas. For more information, please visit www.eaglelng.com/aruba.

About Utilities Aruba/WEB Aruba In 1990, the Aruba government as the sole shareholder established Utilities Aruba NV, which became a holding company for the production and distribution of electricity and water. The Aruba utility company acts as a liaison between the government and the working entity. In 2009, the Aruba government envisioned a new strategy for its utility company. This vision announced at Rio+20 became Aruba’s flagship policy goal and Utilities Aruba NV’s main role, which plays a leading role in overseeing the energy transition. https://www.facebook.com/webaruba/

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