Welcome to our dedicated page for New Fortress Energy news (Ticker: NFE), a resource for investors and traders seeking the latest updates and insights on New Fortress Energy stock.
New Fortress Energy Inc. (NASDAQ: NFE) generates frequent news as a global energy infrastructure company focused on natural gas and liquefied natural gas (LNG). Its disclosures highlight an integrated business that spans LNG production, shipping, terminals and gas-to-power projects, making corporate developments, project milestones and financing decisions important for investors and stakeholders following NFE news.
News about New Fortress Energy often centers on long-term gas supply agreements, LNG and power project milestones, and capital structure actions. For example, the company has reported multi-year gas supply agreements with Puerto Rican authorities to support the island’s energy transition and grid stability. It has also announced progress at its CELBA 2 and PortoCem power plants in Brazil, as well as performance and optimization of its Fast LNG facility offshore Altamira, Mexico.
Another recurring theme in NFE news is financing and restructuring activity. The company has disclosed a forbearance agreement with holders of its 12.000% Senior Secured Notes due 2029 after a missed interest payment, along with multiple amendments to letter of credit facilities to adjust covenants and maturities. NFE has also announced a process to evaluate strategic alternatives, including asset sales, capital raising, debt amendments and refinancing transactions aimed at improving liquidity and its capital structure.
Operational and portfolio updates also feature prominently. New Fortress Energy has reported the sale of its Jamaican LNG and power assets to Excelerate Energy, Inc., long-term FSRU charters with the Egyptian Natural Gas Holding Company (EGAS), and commissioning milestones at its Brazilian power plants. Regulatory and listing updates, such as Nasdaq notices related to delayed Form 10-Q filings, provide additional context for NFE’s reporting and compliance status.
Investors and observers can use the NFE news page on Stock Titan to follow these developments, track project and contract announcements, and monitor disclosures related to the company’s debt, liquidity and strategic initiatives over time.
New Fortress Energy (NASDAQ: NFE) will host an FLNG Investor Day at Kiewit Offshore Services shipyard in Corpus Christi, Texas, on November 2, 2022, at 10:00 A.M. Central Time. The event aims to showcase NFE's Fast LNG program and ongoing marine infrastructure conversions. NFE anticipates mechanical completion of its first FLNG unit by March 2023, with operations expected by mid-year. Space is limited, requiring interested parties to register by September 30, 2022. NFE focuses on global energy infrastructure to support energy security and economic growth.
New Fortress Energy (NASDAQ: NFE) and Apollo (NYSE: APO) have finalized a Joint Venture named Energos Infrastructure, which operates 11 liquefied natural gas (LNG) vessels, including Floating Storage and Regasification Units. The partnership aims to enhance energy security while facilitating a transition towards cleaner energy. Energos is primarily owned by Apollo-managed funds (80%) and NFE (20%). The total implied enterprise value of Energos is around $2 billion. NFE is set to charter ten vessels for up to 20 years to support its global projects.
New Fortress Energy (NFE) has partnered with Plug Power (PLUG) to establish a 120 MW green hydrogen plant in Beaumont, Texas. This facility, expected to be among the largest in North America, aims to produce over 50 tons of green hydrogen daily, with scalability up to 500 MW. The project aligns with favorable U.S. policies for hydrogen and is strategically located near industrial users, enhancing logistics and infrastructure. Executives from both companies emphasize the project's vital role in decarbonization and the growing green hydrogen market.
New Fortress Energy reported Q2 2022 Adjusted EBITDA of $283 million, with a trailing twelve months total of $1.05 billion. Net loss for Q2 2022 was $(178) million, while trailing twelve months net income stood at $197 million. Adjusted EPS was $0.69 per share, offset by a $315 million non-cash impairment charge. The company is on track for an illustrative Adjusted EBITDA goal of $1 billion for 2022 and $1.5 billion for 2023. NFE's FLNG deployment expanded from one to three Gulf of Mexico locations, contributing approximately 8 MTPA capacity.
New Fortress Energy (NASDAQ: NFE) has declared a cash distribution of $0.546875 per unit of its 8.75% Series A Cumulative Redeemable Preferred Units for the period from May 16, 2022 to August 14, 2022. The payment will be made on August 15, 2022 to unitholders of record as of August 8, 2022. This distribution reflects the company's commitment to providing returns to its preferred unitholders while it continues to address energy needs globally.
New Fortress Energy Inc. (NASDAQ: NFE) will release its financial results for Q2 2022 on August 4, 2022, at 8:00 A.M. Eastern Time. Interested parties can access the earnings release on the company's website. A conference call will follow the announcement, providing insights into the results. Investors can dial in using specific numbers depending on their location, and a webcast will also be available for public listening. New Fortress Energy focuses on addressing energy poverty by providing reliable and clean energy solutions globally.
New Fortress Energy (NFE) has announced a strategic agreement with Comisión Federal de Electricidad (CFE) aimed at enhancing energy security in Mexico. Key components include expanding natural gas supply to CFE plants, selling NFE's 135 MW La Paz power plant to CFE, and establishing a new LNG hub off Altamira's coast. These developments are expected to improve system reliability and lower energy costs. The partnership is supported by Mexican President Andrés Manuel López Obrador and aims to promote cleaner energy solutions.
New Fortress Energy (NASDAQ: NFE) has entered a strategic partnership with Pemex to jointly develop the Lakach deepwater natural gas field. This partnership, supported by Mexican President López Obrador, aims to supply natural gas to Mexico's onshore market while NFE will liquefy gas for global export. Over two years, NFE plans to invest in developing seven offshore wells and deploying a 1.4 MTPA FLNG unit. The Lakach field holds 1.1 Tcf of gas and, along with nearby fields, has a total resource potential of 3.3 Tcf, guaranteeing about ten years of production.
New Fortress Energy (NASDAQ: NFE) and Apollo (NYSE: APO) announced a definitive agreement to sell 11 LNG infrastructure vessels for approximately $2 billion, with the joint venture owning 80% by Apollo and 20% by NFE. This deal aims to establish a global marine infrastructure platform supporting LNG delivery, enhancing energy security, and reducing carbon emissions. NFE expects to receive around $1.1 billion after the transaction. The deal is projected to close in Q3 2022, subject to regulatory approvals.
New Fortress Energy (NASDAQ: NFE) has entered into a definitive Share Purchase Agreement with Eneva S.A. for the sale of the Porto de Sergipe Power Plant for R$6.1 billion (approximately $1.29 billion USD). This acquisition includes 100% of the equity interests of the plant and its expansion rights, with an implied enterprise value of roughly R$10.2 billion ($2.16 billion USD). The transaction is expected to close in the second half of 2022, pending approvals, and will generate approximately $550 million in proceeds for NFE.