Top Speed Energy Canada Holding Ltd. (“Top Speed” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of its two small-scale liquified natural gas (“LNG”) projects located in the Terrace and Prince Rupert areas of northern British Columbia and its fleet of ISO containers used for the transport of LNG (the “Assets”).
The Assets include the Skeena LNG project, which is a liquified natural gas plant under development in Terrace, BC with capacity of 150,000 tonnes per year and the Totem LNG project, which is a liquified natural gas plant under development in Prince Rupert, BC with capacity of 75,000 tonnes per year.
These plants are scheduled to come into service in the fourth quarter of 2023 (Skeena) and the fourth quarter of 2024 (Totem) respectively. Top Speed also owns and operates a fleet of 76 ISO containers in western Canada for the storage and transport of LNG to domestic markets and various market regions in southeast Asia.
In early 2021 the founder of Top Speed passed away unexpectedly. While the business case for Top Speed remains strong the majority shareholder felt it best to divest Top Speed of all works, permits and commercial arrangements developed for the Skeena LNG and Totem LNG projects. Top Speed will also be divesting its fleet of 76 ISO containers in the Vancouver area. These containers are fully approved for use in North America and are available for immediate use.
The Company’s projects are well positioned to gain market share in the LNG industry in domestic markets sectors including power generation, industrial applications and the transportation industry.
The Skeena and Totem small-scale LNG projects will provide a competitive cost structure for manufacturing LNG in close proximity to existing and emerging markets in northern British Columbia, the Yukon Territory and Alaska.
More specific information is available at www.sayeradvisors.com. A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement (copy attached).
Offers relating to this divestiture will be accepted until 12:00 pm on Thursday, October 7, 2021.
For further information please feel free to contact: Ben Rye, Grazina Palmer or Tom Pavic at 403.266.6133.