New Fortress Energy Inc. has signed a gas supply agreement (the GSA) with CFEnergia SA de CV, a subsidiary of Mexico’s Federal Electricity Commission (CFE), on March 29. Under the agreement, NFE will provide the equivalent of an estimated 250,000- to 500,000- gallons of LNG (20,000-40,000 MMBtu) per day to CFE’s CTG La Paz and CTG Baja California Sur power plants in Baja California Sur, Mexico.
“We are pleased to support CFE’s transition to cleaner, more affordable and reliable energy,” Wes Edens, chairman and CEO of New Fortress Energy, said. “This contract will help create significant fuel savings and emissions reductions for the benefit of the people of Baja California Sur.”
NFE will supply natural gas to the plant via the company’s LNG receiving and regasification terminal in the port of Pichilingue, Baja California Sur, Mexico. The terminal is anticipated to be complete and begin the supply of natural gas to CFE in May.
If dealmakers can get over the past year, with its misery as treacherous and deep as a river of mud, they may find a promising market in the months ahead.
Analysts at Cowen & Co. boosted their earnings estimates for Apache due to better-realized pricing, notably in gas that “reflect greater exposure to daily pricing versus bid week.”
The appointment of Tiffany “TJ” Thom Cepak as board chairman replaces Mark A. “Mac” McFarland, who was named as permanent president and CEO of California Resources last month.