NFE’s first FLNG 90 percent complete, next two units will work at onshore Altamira terminal

New Fortress Energy’s first floating LNG production unit is 90 percent complete and the firm still expects to start production off Mexico’s Altamira in July this year.

NFE is currently working on up to five floating LNG production units using its “Fast LNG” liquefaction design that incorporates modular, midsize liquefaction technology with jack up rigs or similar offshore infrastructure.

Last year, NFE signed separate deals with CFE and Pemex aimed at installing floating LNG production units off Mexico.

Under the deal with CFE, the firm agreed to create a new FLNG hub off the coast of Altamira, Tamaulipas.

Commissioning of first FLNG

Earlier this year, NFE said that it expects the first FLNG, which is under construction at the Kiewit Offshore Services shipyard near Corpus Christi, Texas, to start production off Altamira in July this year.

Chris Guinta, NFE’s finance chief said during the company’s first-quarter earnings call on Thursday that the firm has begun commissioning of the first FLNG worth about $1 billion and expects it to be fully deployed in August.

The 1.4 mtpa unit is 90 percent complete and it is expected to receive the first gas in July off Altamira.

NFE's first FLNG 90 percent complete, next two units will work at onshore Altamira terminal
Image: New Fortress Energy

FLNG units 2 and 3 to work at onshore Altamira LNG terminal

Guinta also announced that NFE signed a letter of intent with CFE to install units 2 and 3 onshore at the existing Altamira terminal.

The LNG import terminal built in 2006 is currently underutilized and transforming it into an export facility follows the legacy of Sabine Pass nearly 10 years ago, he said.

NFE expects that both of the 1.4 mtpa units, each worth about $900 million, will be complete in the second quarter of 2024.

First gas is expected from the first unit in August 2024 and from the second in September 2024.

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