New Fortress Energy secures LNG through 2027
US-based LNG company New Fortress Energy announced June 6 that it secured enough LNG to cover all of its expected needs for its Latin American terminals through 2027.
New Fortress Energy (NFE) said that it purchased LNG volumes from undisclosed distributors that will satisfy “approximately 100%” of its needs for five terminals across the Caribbean, Mexico and Central America for the next six years.
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“With commercial operations expected to begin within days in Mexico and next month in Nicaragua, this will ensure we provide our customers a reliable and affordable supply of cleaner energy,” said chairman Wes Edens. “We will look to secure additional volumes later this year ahead of commencing our Brazil operations and as we continue to grow our customer base across all our terminals.”
New Fortress Energy in January acquired Golar LNG in a multilateral deal valued at around $5bn. Among the assets obtained through the deal were a floating storage and regasification terminal in Brazil, a small fleet of LNG carriers and a stake in a floating liquefaction vessel, Hilli.
That same day, New Fortress said it had entered into a definitive agreement to acquire CH4 Energia, a Brazilian company with the necessary permits to develop an LNG terminal at the port of Suape, which could go into service as early as next year.
NFE commissioned an LNG import facility in Puerto Rico in 2018 that supplies gas to a combined-cycle power plant, while its regasification projects in Mexico and Nicaragua are still under development.