NFE closes $700mn loan for second FLNG unit in Mexico

US energy infrastructure firm New Fortress Energy (NFE) has closed a $700mn loan for its second floating LNG (FLNG) unit in Mexico, the company announced on July 23. This announcement follows the recent production of LNG at NFE’s first FLNG unit, which is now operational and expects to deliver its first cargo in August before entering full production.

The new loan will fully fund the construction of the second FLNG unit, which will be developed in partnership with Mexican utility Comision Federal de Electricidad, utilising its existing terminal infrastructure onshore in Altamira, Mexico. This new liquefaction unit will employ NFE’s proprietary technology and is expected to complete construction in the first half of 2026.

NFE’s proprietary Fast LNG technology is the first of its kind, combining modular liquefaction technology with jack-up rigs or similar offshore infrastructure to enable faster deployment compared to traditional liquefaction facilities.

In April this year, NFE signed an engineering, procurement, and construction (EPC) contract for a 1.6 GW gas-fired power plant adjacent to the Barcarena LNG terminal in Brazil. Barcarena LNG is the second import terminal commissioned by NFE this year. Commercial operations also began in March at Terminal Gas Sul near Santa Catarina, southwest of Sao Paulo.