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.

- Advertisements -

Most Popular

US to increase LNG supplies to UK under new deal

The US will boost supplies of liquefied natural gas (LNG) to UK terminals under a new deal revealed on...

Adani, TotalEnergies nearing completion of Dhamra LNG terminal in India

India's Adani and France's TotalEnergies have almost completed their Dhamra LNG import facility located in Odisha, on India’s east...

Austria, Germany’s Bavaria interested to receive gas from Croatia’s Krk LNG terminal

Austria and the German state of Bavaria have shown interest to receive natural gas supplies in the future from...

More News Like This

NFE finalizes Lakach FLNG deal with Mexico’s Pemex

US LNG player New Fortress Energy has finalized its previously announced deals with Mexico’s Pemex to develop and operate...

Golar orders equipment worth $300 million for third FLNG project

Tor Olav Troim-led Golar LNG said it had ordered long-lead items worth about $300 million for its third FLNG...

CoolCo inks charter deal for another LNG carrier

LNG carrier operator CoolCo, formed by Idan Ofer’s Eastern Pacific Shipping and Tor Olav Troim’s Golar LNG, has signed...

CoolCo wraps up purchase of LNG carrier quartet

LNG carrier operator CoolCo, formed by Idan Ofer’s Eastern Pacific Shipping and Tor Olav Troim’s Golar LNG, has completed...