T. Boone Pickens joined Citizens Energy Group and the company’s unit Kinetrex Energy recently for the grand opening of Kinetrex’s second liquefied natural gas facility located in Beech Grove.
“Today’s grand opening is the second LNG facility Kinetrex Energy has opened in just eight months,” said Carey Lykins, President and CEO of Citizens Energy Group. “The business is off to a great start. Kinetrex is becoming a Midwest leader in LNG manufacturing,” said Lykins.
Alongside representatives from Citizens and Kinetrex, Lt. Governor Sue Ellspermann, State Representative Randy Frye, Mayor Greg Ballard, Beech Grove City Council President Ed Bell, and Pickens took part in the grand opening ceremony. Pickens, a legendary energy entrepreneur and advocate for alternative energy, calls for natural gas to power the country’s heavy duty truck and fleet transportation system. His 2008 energy policy titled “The Pickens Plan” promotes enhanced U.S. energy security through a reduction in OPEC oil dependence and an expanded use of domestic resources.
“Washington today is focusing on exporting our expanding reserves of natural gas. There’s a market for that, but we’d be better off as a county if we used this cleaner, cheaper energy resource to rebuild our economy, not another country’s,” said Pickens. “The private sector is leading where Washington isn’t, and Kinetrex should be applauded for that, and for its efforts to reduce America’s costly and dangerous dependence on OPEC oil,” said Pickens.
As many large corporations launch their sustainability initiatives, LNG is a perfect solution to “green” their supply chain. LNG burns cleaner and costs less than other fuel sources, and reduces greenhouse gases by more than 20 percent. It also costs about 35-45 percent less than diesel fuel. That combination makes LNG a natural fit for trucking, mining drilling, marine, rail and industrial applications. Based on market research, Kinetrex expects LNG demand in the Midwest to exceed 500,000 gallons/day by 2020.
Between its two facilities, Kinetrex is capable of supplying in excess of 200,000 gallons of LNG per day to the transportation, off-highway high horsepower and industrial markets. Kinetrex customers see LNG as a competitive alternative to diesel fuel for use in heavy-duty vehicles and off-highway applications.
Press Release, June 16, 2014