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BP Energy Partners buys controlling stake in small-scale LNG company

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BP Energy Partners buys controlling stake in small-scale LNG company

Private equity firm BP Energy Partners LLC acquired a controlling interest in and made an additional capital commitment to Cryopeak LNG Solutions Corp. in an effort to support the regional LNG provider's growth plans.

Under the deal, Cryopeak will be a portfolio company of BP Energy Partners' second private equity fund, BP Natural Gas Opportunity Partners II LP, according to a Jan. 8 news release.

Vancouver, British Columbia-based Cryopeak provides small-scale LNG "virtual pipeline" services, delivering gas to locations in North America that lack reliable natural gas pipeline connections. The services include LNG procurement, LNG transportation, and on-site equipment and support.