New Fortress Energy says secures LNG supply for five terminals

Wes Edens-led New Fortress Energy said it has reached a deal for LNG supply that would cover the remaining volumes for its existing natural gas and electricity businesses through the end of 2027.

With this gas supply in place, NFE will have purchased LNG volumes equal to about 100% of its expected needs for its current portfolio of five terminals and assets across the Caribbean, Mexico but also Central America for the next six years, the firm said in a statement.

In addition, the company expects to secure additional LNG supply volumes later in 2021 to support its four terminals in Brazil, which are all expected to be operational in 2022.

NFE did not provide any additional information on the LNG supply. It had revealed two new long-term LNG supply deals in December to support its gas and power business in Puerto Rico, Mexico, and Nicaragua.

“This transaction secures our LNG supply for the next several years across our existing portfolio of terminals and customers,” said Wes Edens.

“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,” he said.

To remind, NFE has recently won approvals related to its LNG import terminal in the port of Pichilingue in Mexico’s Baja California Sur state.

Edens added NFE would look to secure additional volumes later this year ahead of commencing its Brazil operations and as the firm continues to grow its customer base across all the terminals.

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