New Fortress Energy is selling a small-scale liquefaction and storage facility in Miami, Florida. (Source: Shutterstock.com)
New Fortress Energy Inc. agreed to sell a small-scale liquefaction and storage facility in Miami, Florida.
The transaction, expected to close in the third quarter, was signed with an unnamed U.S. middle-market infrastructure fund, New Fortress Energy (NFE) announced July 1.
The Miami facility includes a single liquefaction train capable of producing 8,300 MMBtu of LNG per day.
The transaction includes three LNG storage tanks with a total capacity of around 1,000 cubic meters. The deal also includes two LNG transfer areas serving truck and rail transport.
NFE’s Miami facility is authorized to export up to 60,000 tonnes per annum of LNG under a 20-year term beginning on February 5, 2016.
“The Miami facility is the inaugural asset of NFE and we are proud to have built this best-in-class infrastructure,” said NFE Chairman and CEO Wes Edens. “Today’s sale highlights our commitment and execution of our asset sale program, allowing us to reduce debt and recycle proceeds into high return downstream projects.”
RELATED
New Fortress Expects First LNG from Unit Offshore Mexico in a Matter of Days
Recommended Reading
Wilson: NGLs are America’s Other Energy Export Boom
2024-08-12 - Robust outlook, interested buyers, willing investors—what’s not to like as NGLs have become America's hottest export product?
Enterprise Products Partners to Grow NGL Export Capacity in Houston
2024-07-30 - Enterprise Products Partners will expand new refrigeration facilities on the ship channel that are slated for operation in 2026.
Enbridge to Renew Application for Line 5 NGL, Oil Pipeline Project
2024-09-13 - Opponents of Enbridge’s Line 5 project say the move is positive and will allow more time for the project to meet environmental and legal concerns.
ONEOK to Build New Pipeline, Expand Capacity from Kansas to Denver
2024-07-18 - ONEOK plans to build a 230-mile refined products line from western Kansas to the Denver International Airport as part of a $480 million network upgrade.
Electricity and LNG Drive Midstream Growth as M&A Looms
2024-09-26 - The midstream sector sees surging global and domestic demand with fewer players left to offer ‘wellhead to water’ services.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.