New Fortress Energy inks LNG supply deals

US-based New Fortress Energy on Monday revealed two new long-term LNG supply deals to support its gas and power business in Puerto Rico, Mexico, and Nicaragua.

NFE said in a statement it has now purchased volumes equal to about 80% of its expected needs across its current portfolio of terminals and assets.

Additionally, this includes previous purchases of LNG for the company’s Jamaican operations.

NFE did not provide any additional information regarding the LNG supply deals.

“As a company, our goal is to match our LNG purchases as much as possible with our customer volumes, thus reducing our exposure to changes in the market price for LNG across our portfolio,” chief executive Wes Edens said.

Edens said that with the new contracts, the firm would match most of those volumes with these commitments.

Furthermore, NFE mainly uses the US Henry Hub as the price benchmark for the firm’s contracts with customers.

According to Edens, about 70% of NFE’s contracts include Henry Hub pricing and the new deals also entail this benchmark.

Most Popular

Yang Ming books LNG-powered containerships in South Korea

Taiwan’s Yang Ming Marine Transport has decided to order LNG dual-fuel container vessels from South Korea's Hanwha Ocean as part of its ongoing fleet optimization plan.

Sabah to take stake in Petronas’ third FLNG

SMJ Energy, owned by the Sabah government, has signed a heads of agreement with Malaysian energy giant Petronas to take a 25 percent stake in the latter's third floating LNG production unit.

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

More News Like This

NFE inks second FSRU charter deal with Egypt’s EGAS

Egypt’s EGAS has signed a second deal with US LNG player New Fortress Energy to charter a floating storage and regasification unit (FSRU).

Another FSRU arrives in Egypt

The 160,000-cbm FSRU Energos Eskimo has arrived in Egypt from Jordan, according to shipping data. The unit is one of four FSRUs that will serve a charter deal with Egypt's EGAS as the country seeks to meet its growing demand for natural gas.

Avenir LNG seals charter deal with Excelerate

UK-based small-scale firm Avenir LNG has secured a multi-year extension for its 7,500-cbm vessel Avenir Accolade with US FSRU player Excelerate Energy.

NFE gets non-compliance notice from Nasdaq

US LNG player New Fortress Energy said it had received an expected notice from Nasdaq on non-compliance with the latter’s listing rule for not submitting its quarterly report with the US SEC.