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

LNG Canada to send third cargo

Shell-led LNG Canada is expected to soon ship the third cargo of liquefied natural gas from the Kitimat facility, according to shipping data.

Hyundai LNG Shipping sells another carrier for scrap

South Korea's Hyundai LNG Shipping has sold another steam liquefied natural gas (LNG) carrier for scrap, according to brokers.

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).

More News Like This

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.

NFE working on two more FSRU charter deals

US LNG player New Fortress Energy is in advanced talks to charter two more floating and regasification units, according to its management.