[[{“value”:”
Last month, NFE announced a series of financing transactions that upon closing are intended to increase the company’s liquidity and financial flexibility.
“In furtherance of these goals, the company has begun work to identify strategic partners for one or more of its primary businesses, including projects in Brazil, Puerto Rico, Jamaica, Mexico, Nicaragua, FLNG 1, and Klondike,” NFE said on Tuesday.
The company expects to explore financings, commercial ventures, or asset sales with potential strategic partners.
NFE said it “cannot provide assurance that its exploration will result in pursuing a transaction or that any transaction, if pursued, will be completed on attractive terms.”
The company recently shipped the third LNG cargo from its FLNG project off Mexico’s Altamira to its operation in Puerto Rico.
In September, NFE shipped the first full LNG cargo from its first FLNG project to Europe.
This shipment onboard the 138,000-cbm Energos Princess recently arrived at the Dutch Gate LNG terminal in the port of Rotterdam.
Before this, NFE loaded the first Altamira LNG cargo in August.
This partial shipment was delivered to NFE’s La Paz, Mexico terminal.
The company previously said the FLNG project adds more than $2 billion of infrastructure to its asset base.
In addition to this project, NFE closed in July its previously announced $700 million loan for its second FLNG unit which it aims to install onshore in Altamira.
NFE reported a net loss of $87 million and an adjusted Ebitda of $120 million in the second quarter of 2024.
Adjusted Ebitda was well below NFE’s expectation of $275 million, largely due to delays in placing its FLNG 1 project into service.
The company plans to release third-quarter results on November 7.
We give you energy news and help invest in energy projects too, click here to learn more
Crude Oil, LNG, Jet Fuel price quote
ENB Top News
ENB
Energy Dashboard
ENB Podcast
ENB Substack
The post New Fortress seeking strategic partners appeared first on Energy News Beat.
“}]]
Energy News Beat