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

Shell ships first LNG Canada cargo

LNG giant Shell and its partners have shipped the first cargo produced at the LNG Canada facility in Kitimat, on the west coast of Canada.

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.

BP seals LNG SPA with Italy’s A2A

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with Italian electricity and gas distributor A2A.

More News Like This

Golar LNG wraps up $575 million senior notes offering

Last week, Golar revealed that it intends to offer, subject to market and other conditions, $500 million aggregate principal...

Golar LNG in $500 million senior notes offering

Floating LNG player Golar LNG aims to raise about $500 million via an offering of convertible senior notes due 2030.

Golar progresses FLNG growth plans

Golar LNG said it had signed a final engineering study to confirm EPC price and delivery for a 5 mtpa MKIII FLNG.

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.