New Fortress wraps up $5.1 billion Golar units deal

Wes Edens-led New Fortress Energy has completed the previously announced deal to buy two Golar LNG units.

The US firm said on Thursday the combined transactions have a $5.1 billion enterprise value and a $2.43 billion equity value.

NFE purchased Hygo Energy Transition, a joint venture consisting of Tor Olav Troim-led Golar and Stonepeak Infrastructure Partners, but also Golar LNG Partners.

NFE now becomes a “leading” international gas-to-power company with an operational floating storage and regasification unit (FSRU) terminal and a 50% interest in a 1500MW power plant in Sergipe, Brazil, the US firm said on Thursday.

The deal also includes three other FSRU terminals with associated power opportunities that are advancing through development and construction.

In addition, NFE has become more integrated by adding a global shipping fleet of seven FSRUs and six LNG carriers as well as a 50% interest in Trains 1 and 2 of the Hilli, world’s first converted FLNG vessel working offshore Kribi, Cameroon.

“The addition of the Hygo team, together with a great portfolio of world-class LNG ships and operators, enhances our efforts to bring more clean and affordable energy around the world,” said Wes Edens, chairman and chief executive of NFE.

“With this acquisition, we are now a leading gas and power provider in a large and fast-growing market and have become one of the world’s premier energy transition companies,” he said.

Most Popular

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

Atlantic LNG shipping rates continue to decrease

Atlantic LNG freight shipping rates continued to decrease this week, while European prices also dropped compared to last week.

More News Like This

Golar chairman says FLNG industry set for ‘massive’ growth

Golar LNG will continue to expand its fleet of floating LNG production units in an industry set for "massive" growth, according to Golar LNG's chairman, Tor Olav Trøim.

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.

Golar plans new FLNG order in 2025

Floating LNG player Golar LNG is working with shipyards to order one or more floating LNG production units in 2025.