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. reports developments across an integrated natural gas and LNG infrastructure business that owns and operates terminals, liquefaction and delivery assets, ships, and logistics capabilities. Recurring company news covers terminal commercialization and capacity arrangements, gas-supply contracts, LNG-to-power infrastructure, and power-generation support in markets such as Brazil and Puerto Rico.
Updates also address material agreements, capital-structure actions, debt and forbearance matters, shareholder voting items, governance disclosures, and operating and financial results. The company’s business is organized around Terminals and Infrastructure and Ships, with the infrastructure segment spanning natural gas procurement, liquefaction, logistics, shipping, facilities, and natural gas-fired power generation development.
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.
New Fortress Energy (NFE) has entered into a 5-year binding agreement to charter a floating storage and regasification unit (FSRU) for N.V. Nederlandse Gasunie. This agreement, starting in Q3 2022, aims to enhance LNG import capacity at the Eems Energy Terminal in the Netherlands, adding approximately 8 bcm/year of regasification capacity. This initiative supports energy security in the Netherlands and reduces reliance on Russian gas, coinciding with the U.S.-EU Task Force's efforts to bolster energy supplies.
New Fortress Energy reported Q1 2022 results with a net cash flow from operations of $114 million and a net income of $241 million, resulting in $1.13 EPS on a fully diluted basis. Adjusted EBITDA was approximately $258 million, maintaining a target of over $1 billion for full-year 2022. The company announced a $0.10 per share dividend, effective June 28, 2022. It has executed long-term LNG agreements and is advancing multiple strategic initiatives, including projects for Fast LNG and green hydrogen.
New Fortress Energy Inc. (NASDAQ: NFE) announced that the U.S. Coast Guard has confirmed the completeness of its deepwater port license application. This project, known as New Fortress Energy Louisiana FLNG, aims to construct an offshore natural gas export facility off Grand Isle, Louisiana, allowing for the export of approximately 145 billion cubic feet of natural gas annually. NFE plans to operate this facility by Q1 2023, supporting energy supply to Europe and addressing energy poverty.
New Fortress Energy Inc. (NASDAQ: NFE) has announced a cash distribution of $0.546875 per unit for its 8.75% Series A Cumulative Redeemable Preferred Units. This distribution covers the period from February 15, 2022 to May 15, 2022 and will be paid on May 16, 2022. The record date for unitholders is May 9, 2022. New Fortress Energy focuses on addressing energy poverty and enhancing global energy security through its natural gas infrastructure and logistics assets.
New Fortress Energy Inc. (NASDAQ: NFE) will release its first quarter 2022 financial results on May 5, 2022, before 8:00 A.M. Eastern Time. Following the announcement, a conference call will be held at the same time, accessible via phone or a public webcast. A replay of the call will be available until May 12, 2022. New Fortress Energy is focused on addressing energy poverty and facilitating the shift to clean energy through its global natural gas and LNG infrastructure.
New Fortress Energy (NASDAQ: NFE) announced plans for a new offshore LNG liquefaction terminal off the Louisiana coast, capable of exporting around 145 billion cubic feet of natural gas annually, equating to approximately 2.8 MTPA of LNG. The project aims to support U.S. commitments to increase LNG exports to the EU and enhance energy security. NFE targets operations by Q1 2023, pending regulatory approvals, and emphasizes its innovative Fast LNG technology for cost-effective deployment.
On March 16, 2022, Venture Global LNG announced two long-term Sales and Purchase Agreements (SPAs) with New Fortress Energy (NFE), each for 1 million tonnes per annum (MTPA). This marks the first SPA for the CP2 LNG facility, set to begin construction in 2023. Venture Global now has over 80% of long-term contracts signed by US LNG companies since 2017. The company is moving towards a formal Final Investment Decision (FID) for Plaquemines LNG, having already sold 14 million tonnes of its 20 MTPA capacity.