An energy and commodities leader with a global asset portfolio
Hartree focuses on making global investments in energy infrastructure assets where our trading expertise provides superior market insight and the ability to mitigate or quantify downside risk. This provides Hartree with a clear competitive advantage in its ability to identify, evaluate, optimize and commercialize assets. The asset investment strategy is supported by a dedicated principal investment team that is structured to move with speed and certainty. We make investments in assets directly through Hartree and via our relationship with Oaktree.
Our asset investments include
- Storage and terminals
- Power generation
- Renewable and biofuel assets
- Shipping, logistics and distribution
- Downstream and refining
Selected asset investments
Cardinal Gas Storage
In 2019, Hartree Bulk Storage, a Hartree affiliate, acquired Cardinal Gas Storage. Cardinal Gas Storage is comprised of four natural gas storage facilities in the US Gulf Coast, with a combined 50 billion cubic feet of underground working storage capacity. These assets are strategically located at the junction between the growing natural gas production regions in the US and the LNG facilities in coastal Louisiana and Texas, and will accommodate increasing needs for standby power plant fuel as intermittency of renewable power plays a larger role in the electricity grid.
Hartree Maritime, a Hartree affiliate, owns a portfolio of recently constructed crude oil tankers. These vessels, which are among the most fuel efficient VLCCs in operation, were designed with technology to significantly reduce the amount of sulfur emitted when under operation. These vessels provide scale transportation of refinery feedstock from key supply regions to large consuming markets.
In 2020, Hartree completed the purchase of a petroleum refinery located in the Houston Ship Channel. The facility includes storage, truck and dock infrastructure, as well as the ability to process up to 50,000 barrels per day of crude oil into marketable and intermediate products.
In 2020, Hartree completed the acquisition of 3 million barrels of crude oil storage in Cushing, Oklahoma. This storage facility is located within the world’s largest crude oil storage complex, with significant pipeline interconnectivity, allowing for the ability to source and deliver crude oil throughout the US.
UK Power Peaking Assets
Since 2016, Hartree has been involved in the development and operation of small-scale power generation in the UK. These assets are strategically located to capitalize on locational mismatches between supply and demand in the regional UK power markets, a trend that continues with the growing reliance on intermittent renewable energy.