New Fortress Energy Signs LNG Supply Deal
The company is taking advantage of the dislocation in global LNG markets and securing ten years of offtake.
New Fortress Energy LLC has signed a long-term supply agreement for the purchase of 27.5 million MMBtu per annum of liquefied natural gas, or about eight cargoes a year, at a price indexed to Henry Hub through January 2030.
This will support growth in New Fortress’ customer base in international markets as the company develops LNG terminals and natural gas infrastructure.
“This agreement supports our efforts to spur economic growth and reduce emissions as we deliver more affordable and cleaner energy to our customers,” said New Fortress Chairman and CEO Wes Edens in a statement.
“We evaluated a broad range of competitive offers to meet the expansion of our LNG terminals across international markets. We’re pleased to take advantage of the dislocation in global LNG markets and secure ten years of offtake for our growing business.”
New Fortress Energy is a global energy infrastructure company and it funds, builds and operates natural gas infrastructure and logistics to deliver fully integrated, turnkey energy solutions.
The company is majority-owned by a fund managed by an affiliate of Fortress Investment Group.
Source: Rigzone