New Fortress Energy inks long-term LNG supply deal

Illustration purposes only (Image courtesy of New Fortress Energy)

New York City-based New Fortress Energy has signed a long-term deal for the supply of liquefied natural gas through to January 2030. 

Under the agreement, the company would purchase 27.5 million MMBtu per annum of LNG, or approximately 8 cargoes a year, at a price indexed to Henry Hub, the company said in its statement.

This agreement will support the growth of New Fortress’ customer base in international markets as the company develops LNG terminals and natural gas infrastructure, the statement reads.

“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,” Edens said.

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