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Visionary Energy Expert T. Boone Pickens Cuts Ribbon with Citizens and Kinetrex Energy

6/11/2014
 

Indianapolis- T. Boone Pickens joined Citizens Energy Group and Kinetrex Energy today for the grand opening of Kinetrex’s second liquefied natural gas facility located in Beech Grove. With two liquefied natural gas (LNG) facilities now open for business, Kinetrex Energy, a subsidiary of Citizens Energy Group, is becoming a leader in the LNG market.

“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.”

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. 

Additional Quotes

“The citizens of Indiana will benefit when we have a variety of energy sources, including LNG that can be produced domestically in ample supply for many uses. The investment by Citizens Energy Group through Kinetrex Energy makes this source readily available to many different customers.” –Lt. Governor Sue Ellspermann

“In 2013, I spearheaded a new state law which allows truck fleet owners and operators to use a tax credit to purchase clean fuel vehicles for their fleets. I felt this was a worthy investment for the state of Indiana, because when you purchase natural gas, you are receiving the best of both worlds; it is inexpensive, and it is produced domestically, so more money stays right here in the United States. It has been my hope all along to see more and more businesses switching their fleets over to this clean, cost-effective alternative fuel, and the opening of this new station is a step in that direction. I am thrilled to see yet another LNG station opening up in Indiana.” –State Representative Randy Frye

“America is on the verge of an energy crisis that is directly tied to our dependence on oil. I want to thank Carey Lykins and his team at Citizens Energy Group and Kinetrex for their work to move our nation’s transportation sector away from foreign oil.” –Indianapolis Mayor Greg Ballard

“Beech Grove is now home to one of the two Kinetrex Energy distribution centers in Central Indiana for liquefied natural gas. What is even more exciting is that Kinetrex is bringing more jobs to our city and the assessed valuation of our city will increase as approximately 25 million dollars could be invested in the property by the end of 2014.” –Beech Grove Mayor Dennis Buckley

About Kinetrex

Kinetrex Energy has a vision to become the LNG transport and industrial fuel supply leader in the Midwest. Kinetrex is a wholly-owned subsidiary of Citizens Energy Group, a provider of safe and reliable utility services to about 400,000 residential, commercial and industrial customers in the Indianapolis area. Additional information about Kinetrex is available at www.KinetrexEnergy.com


About Citizens Energy Group

Citizens Energy Group provides safe and reliable utility services to about 800,000 people in the Indianapolis area. Citizens operates its utilities only for the benefit of customers and the community. Additional information is available online at Facebook - Twitter - LinkedIn - YouTube

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