NEW YORK—New Fortress Energy LLC announced Feb. 10 that it has signed a long-term supply agreement for the purchase of 27.5 million MMBtu per annum of LNG, or approximately eight cargoes a year, at a price indexed to Henry Hub through January 2030.
This agreement will support the continued growth of New Fortress’ customer base in international markets as the company develops LNG terminals and natural gas infrastructure.
“This agreement supports our efforts to spur economic growth and reduce emissions as we deliver more affordable and cleaner energy to our customers,” said New Fortress Chairman and CEO Wes Edens. “We evaluated a broad range of competitive offers to meet the expansion of our LNG terminals across international markets. We’re pleased to take advantage of the dislocation in global LNG markets and secure ten years of offtake for our growing business.”
Recommended Reading
E&P Highlights: July 29, 2024
2024-07-29 - Here’s a roundup of the latest E&P headlines including Energean taking FID on the Katlan development project and SLB developing an AI-based platform with Aker BP.
The EPC Market Keeps Its Head Above Water
2024-08-06 - While offshore investments are rising, particularly in deepwater fields, challenges persist due to project delays and inflation, according to Westwood analysis.
E&P Highlights: July 15, 2024
2024-07-15 - Here’s a roundup of the latest E&P headlines, including Freeport LNG’s restart after Hurricane Beryl and ADNOC’s deployment of AI-powered tech at its offshore fields.
E&P Highlights: July 10, 2024
2024-07-10 - Here’s a roundup of the latest E&P headlines including TotalEnergies exiting South Africa to focus on opportunities in Namibia.
E&P Highlights: July 1, 2024
2024-07-01 - Here’s a roundup of the latest E&P headlines, including the Israeli government approving increased gas export at the Leviathan Field and Equinor winning a FEED contract for the all-electric Fram Sør Field.