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Earlier this month, NFE announced that the islandwide gas supply contract was to be extended for one year.
According to a statement by NFE on Monday, the revised 100-day extension provides a bridge period to facilitate an open request for proposals (RFP) for updated terms and duration of the gas supply contract.
“The 100-day extension allows an adequate period for an RFP for a new gas contract with appropriate duration and terms to best serve Puerto Rico’s energy security needs at the lowest possible cost,” said Wes Edens, chairman and CEO of NFE.
Last year, NFE sold two of its operating power plans to PREPA, while it also secured a new gas supply contract from the latter.
The company sold the emergency power plants it constructed on behalf of the US Army Corps of Engineers in San Juan and Palo Seco to PREPA for $373 million in cash.
In January this year, NFE also signed a long-term deal with Energiza to supply natural gas to the latter’s 478 MW combined-cycle power plant being developed in San Juan, Puerto Rico.
The power plant is located adjacent to NFE’s existing San Juan LNG import terminal, which was commissioned in April 2020.
NFE sent some of the shipments from its FLNG project off Mexico’s Altamira to Puerto Rico.
The compan saiy its FLNG 1 is the only liquefier in the Gulf Coast that is permitted to export LNG to Puerto Rico.
In total, the Fast LNG (FLNG) project, which is performing above nameplate capacity of 1.4 mtpa, shipped twelve LNG cargoes since its launch last year.