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 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.
New Fortress Energy (NASDAQ: NFE) has entered into two 20-year Sale and Purchase Agreements with Venture Global LNG to supply 2 million tonnes per annum (MTPA) of LNG. The first agreement covers 1 MTPA from the Plaquemines LNG facility in Louisiana, while the second involves another 1 MTPA from the CP2 LNG facility. These agreements aim to enhance NFE's natural gas supply portfolio to meet increasing global demand. The partnerships align with both companies' goals of advancing clean energy and ensuring energy market stability.
New Fortress Energy Inc. (NASDAQ: NFE) announced a favorable ruling on March 4, 2023, from the Supreme Court of Sri Lanka, dismissing petitions against its natural gas power development in the country. Following a definitive agreement with the Sri Lankan government in September 2021, NFE plans to invest in energy infrastructure, including a new LNG terminal off Colombo's coast. The agreement allows NFE to supply approximately 1.2 million gallons per day of LNG to support existing and upcoming power plants, including the Sobadanavi Power Plant, expected to begin operations in 2023.
New Fortress Energy reported record financial results for Q4 and FY 2021, achieving net income of $151 million ($0.72 EPS) for Q4 and $92 million ($0.47 EPS) for the full year. Adjusted EBITDA surged nearly 100% to $334 million in Q4, contributing to an annual total of over $604 million. The company signed significant LNG contracts, advanced key projects in Nicaragua and Brazil, and made strides in clean hydrogen initiatives. A dividend of $0.10 per share has been declared, with a record date of March 18, 2022, and payment on March 29, 2022.
New Fortress Energy (NASDAQ: NFE) has signed a Heads of Agreement (HoA) with Eni S.p.A.'s subsidiary for deploying its Fast LNG liquefaction technology off the coast of the Republic of the Congo for 20 years. This facility aims to produce up to 1.4 million metric tons of LNG annually, with production expected to begin in Q2 2023. The agreement sets the groundwork for a long-term tolling agreement and a purchase agreement for approximately 1.2 million gallons of LNG per day. NFE's Fast LNG technology promises cost-effective and rapid deployment of offshore infrastructure.
New Fortress Energy Inc. (NASDAQ: NFE) will announce its financial results for Q4 and full-year 2021 before 8:00 A.M. ET on March 1, 2022. An earnings supplement will be available on the company's website. Management will host a conference call on the same day at 8:00 A.M. ET, accessible via phone or webcast. A replay will be available starting at 11:00 A.M. ET on March 1 through March 8, 2022. New Fortress Energy is dedicated to accelerating the transition to clean energy by developing natural gas infrastructure and solutions.
New Fortress Energy (NASDAQ: NFE) announces a cash distribution of $0.546875 per unit for its 8.75% Series A Cumulative Redeemable Preferred Units for the period from November 13, 2021 to February 14, 2022. This distribution will be paid on February 15, 2022 to unitholders on record as of February 8, 2022. New Fortress Energy is focused on accelerating the transition to clean energy by funding, building, and operating natural gas infrastructure.
New Fortress Energy (NASDAQ: NFE) has signed a Memorandum of Understanding (MOU) with the Islamic Republic of Mauritania to develop an Energy Hub focused on natural gas, liquefied natural gas (LNG), and blue ammonia. NFE plans to utilize its 'Fast LNG' technology to produce LNG for local and international markets, supplying existing and new power plants in Mauritania. This initiative aims to foster sustainable economic growth and position Mauritania as a significant exporter of LNG. However, the MOU is non-binding, and terms may change in future agreements.