New Fortress Energy is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy

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New Fortress Energy signs LNG supply agreement. (Credit: djedj from Pixabay.)

New Fortress Energy LLC (NASDAQ: NFE) (“New Fortress”) announced today that it has signed a long-term supply agreement for the purchase of 27.5 million MMBtu per annum of liquefied natural gas (LNG), or approximately 8 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.”

New Fortress Energy is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities. New Fortress Energy is majority-owned by a fund managed by an affiliate of Fortress Investment Group.

Source: Company Press Release