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 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.
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.