NFE wraps up Energos stake sale

US LNG player New Fortress Energy has completed the sale of its 20 percent equity interest in Energos Infrastructure to funds managed by compatriot asset manager Apollo.

NFE said in statement it intends to use net proceeds from this transaction for general corporate purposes, including repaying debt and investing in accretive downstream projects.

The firm did not provide further details.

NFE and Apollo completed the formation of their $2 billion joint venture Energos in August 2022.

Following the completion of the sale, Apollo now owns 100 percent in Energos.

Energos owns and operates 13 LNG infrastructure vessels, consisting of 9 floating storage and regasification units, 2 floating storage units, and 2 LNG carriers.

The firm recently purchased two 2021-built FSRUs from affiliates of Greece’s Dynagas.

NFE said it currently charters six vessels from Energos and will maintain an “active relationship” with Energos to support NFE’s global operations through vessel charters for a period up to 20 years.

These charters have either commenced or will start upon expiration of each vessel’s existing third-party charter agreement.

“We are pleased to have established Energos with Apollo Funds, our joint venture partner, and to have built it into a premier LNG maritime infrastructure company today,” Wes Edens, chairman and CEO of NFE, said.

“Completing the sale of our interest to Apollo Funds allows us to recycle proceeds into high return downstream projects and to reduce debt,” he said.

Most Popular

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.

NextDecade, Jera seal 20-year LNG SPA

Japan's Jera has signed a 20-year deal to buy liquefied natural gas from the planned fifth train at NextDecade's Rio Grande LNG facility in Texas.

Australia’s Viva Energy gets OK for Geelong LNG import terminal

Australia’s Viva Energy has secured approval from the Victorian government for its proposed FSRU-based LNG import terminal in Geelong, Australia.

More News Like This

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.

Second FSRU arrives in Egypt

Egypt has welcomed the second chartered floating storage and regasification unit as it looks to satisfy growing demand for natural gas. The German government sub-chartered the 174,000-cbm FSRU Energos Power, owned by Energos Infrastructure, to state-owned EGAS.

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.