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WESPAC MIDSTREAM AND CLEAN MARINE ENERGY PARTNER TO FUND LNG ENGINE UPGRADES AND SUPPLY LNG FUEL

— Irvine, CA – October 6, 2014 – WesPac Midstream LLC (WesPac), a leading provider of energy infrastructure and LNG solutions

 
 
 

WESPAC MIDSTREAM AND CLEAN MARINE ENERGY PARTNER TO FUND
LNG ENGINE UPGRADES AND SUPPLY LNG FUEL

 

Unique partnership offers the first fully integrated LNG solution to ship owners

 

Irvine, CA – October 6, 2014 – WesPac Midstream LLC (WesPac), a leading provider of energy
infrastructure and LNG solutions, is pleased to announce a partnership agreement with Clean
Marine Energy LLC (CME), the global facilitator of finance mechanisms for LNG conversion and
Emission Control Area (ECA) compliance. This strategic partnership will ensure the supply and
delivery of LNG to ship owners utilizing CME’s Emissions Compliance Service Agreement
(ECSA) to convert to cleaner fueling.

 

The WesPac/CME integrated solution represents a significant step in the evolution of LNG as a
marine fuel. The partnership is able to provide both the funding required for LNG conversion as
well as the infrastructure for LNG supply and delivery. Conversion to LNG while financing the upfront
investment provides the economic benefit of LNG fueling to ship owners without capital
deployment, and ensures compliance with ECA regulations taking effect on January 1, 2015.

 

Pace Ralli, CEO and Co-Founder of CME, explained: “The first question every ship owner asks is
‘Where will I get the LNG?’ because if they cannot ensure the future delivery of LNG then they will
not see the investment payback. CME’s partnership with WesPac provides the answer to this
question and greatly simplifies the decision to convert to clean, lower-cost LNG fuel.”

 

Ship owners have a window of opportunity to act as early movers and lead the U.S. domestic
shipping industry into the next era of low-emissions shipping. As partners in the emerging LNG
fueling market, WesPac and CME aim to help reduce the barriers to LNG adoption and assist the
early movers in the marine industry and other high horsepower industries such as rail, mining and
E&P. Funds managed by Oaktree Capital Management, L.P. (Oaktree), a leading global
investment manager, are supporting both WesPac’s LNG infrastructure projects and CME’s ship
upgrade projects.

 

About WesPac Midstream LLC
WesPac Midstream LLC is a private energy infrastructure company founded in 1998 to develop,
build, own and operate midstream assets in North America. WesPac’s primary focus is on
infrastructure for the emerging transportation sector for marine vessels, trains and vehicles
switching to liquefied natural gas (LNG) from diesel or other oil-based fuels. WesPac provides
turnkey solutions that are designed and engineered by WesPac for the specific needs of its
customers. Please visit the WesPac’s website at http://wespac.com/.

 

About Clean Marine Energy LLC
CME offers ship owners tailored solutions for emissions compliance, utilizing a proprietary
financing mechanism to retrofit their vessels with LNG fueling technology or scrubbers, without a
large upfront capital requirement. CME’s comprehensive offering is built on strategic partnerships
between industry leaders that combine technology, engineering expertise, capabilities and track
record. Please visit CME’s website at http://www.cleanmarineenergy.com/.

 

About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments,
with $91.1 billion in assets under management as of June 30, 2014. The firm emphasizes an
opportunistic, value-oriented and risk-controlled approach to investments in distressed debt,
corporate debt (including high yield debt and senior loans), control investing, convertible
securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 850
employees and offices in 17 cities worldwide. For additional information, please visit Oaktree’s
website at http://www.oaktreecapital.com/.