New Fortress Energy, a Fortress Investment Group’s company will reportedly invest $200 million into the construction of an LNG terminal in Jamaica.
The estimated production capacity of the proposed facility is at 200,000 metric tons of LNG per year, according to the Jamaica Information Service.
Total capacity will be initially supplied to the domestic market, but there are plans for output expansion in order to supply other countries in the Caribbean.
New Fortress closed an LNG supply deal with Jamaica Public Service for the delivery of LNG to the 120-megawatt power plant at Bogue, in St. James.
JIS cited the chairman of the Electricity Sector Enterprise Team (ESET), Vincent Lawrence as saying that New Fortress will own and operate the terminal and expects the terminal to be ready for commissioning in 2017 or 2018.
ESET also authorized JPS to start negotiations with New Fortress for a new LNG supply deal for its Old Harbour 190-megawatt gas-fired power plant.
The company was selected among six bidders for the supply of liquefied natural gas as well as the installation of facilities to receive, store and re-gasify LNG for the use at the power plant.
LNG World News Staff; Image: JPS