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) has modified its islandwide gas supply contract extension with the Puerto Rico Electric Power Authority (PREPA). Instead of the previously announced one-year extension, the contract will now extend for 100 days. This shorter bridge period is designed to facilitate an open Request for Proposals (RFP) process that will determine updated terms and duration for the gas supply contract.
The amendment affects the existing 80 TBtu islandwide gas supply agreement. According to NFE's Chairman and CEO Wes Edens, this temporary extension will provide sufficient time to conduct an RFP process aimed at securing new contract terms that optimize Puerto Rico's energy security while minimizing costs.
New Fortress Energy (NFE) reported its Q4 and full-year 2024 financial results, achieving Adjusted EBITDA of $313 million in Q4 (exceeding guidance of $200-220M) and $950 million for full-year 2024 (surpassing guidance of $835-855M). The company posted a net loss of $224 million in Q4 and $242 million for the full year, primarily due to debt refinancing costs including a Q4 loss on debt extinguishment of $260 million.
Key operational highlights include the completion of Fast LNG asset, operating above nameplate capacity since early 2024, and extension of an 80 TBtu gas supply contract in Puerto Rico. The company's CELBA plant in Brazil is 88% complete. NFE strengthened its financial position through a $2.7 billion senior secured notes issuance, $400 million common equity offering, and subsequent debt refinancing activities in early 2025.
New Fortress Energy (NFE) has announced a one-year extension of its 80 TBtu islandwide gas supply contract with the Puerto Rico Electric Power Authority (PREPA). The company's subsidiary, Genera, will modify its 10-year Operation and Maintenance Agreement with PREPA, eliminating future incentive payments in exchange for a $110 million payment.
The agreement aims to deliver reliable, clean power to Puerto Ricans at the lowest cost possible. The contract provides capacity to supply NFE's current downstream gas demand and convert legacy diesel-powered plants to natural gas, potentially generating substantial cost savings and reducing emissions.
Since 2017, NFE has invested hundreds of millions in Puerto Rico's energy infrastructure, resulting in over $500 million in fuel savings for the island, with the extended contract promising potential billions in future savings.
New Fortress Energy (NASDAQ: NFE) has scheduled its fourth quarter 2024 earnings release for Monday, March 3rd, 2025, after 4:00 P.M. Eastern Time. The company will host a conference call at 5:00 P.M. Eastern Time on the same day.
Investors can access the conference call by dialing (888) 394-8218 (U.S. toll-free) or +1 (323) 994-2093 (international) using the conference code 7951152. A simultaneous webcast will be available on the company's website under the Investors section. The earnings release and supplement will be posted to www.newfortressenergy.com, where a replay of the conference call will also be accessible after the event.
Golar LNG Partners LP, an indirect subsidiary of New Fortress Energy Inc. (NFE), has announced a quarterly cash distribution for its Series A Preferred unitholders. The distribution amounts to $0.546875 per unit of the 8.75% Series A Cumulative Redeemable Preferred Units, covering the period from November 15, 2024, through February 14, 2025. The payment will be made on February 18, 2025, to unitholders of record as of February 10, 2025.
New Fortress Energy (NFE) has announced a significant 20-year gas supply agreement with Energiza for a new 478 MW combined-cycle power plant in San Juan, Puerto Rico. The facility, positioned next to NFE's existing San Juan LNG import terminal, will be Puerto Rico's first new power plant since 1995 and is scheduled to begin operations in 2028.
The power plant aims to modernize Puerto Rico's aging power infrastructure by providing a cleaner and more reliable energy source. This partnership represents a strategic expansion of NFE's gas supply operations in the Caribbean region.
New Fortress Energy (NFE) has signed a significant 10-year charter agreement with the Egyptian Natural Gas Holding Company (EGAS) for the Energos Eskimo, a 160,000 m3 floating storage and regasification unit. The vessel will be stationed at EGAS's LNG import terminal in Ain Sokhna, Egypt, with operations scheduled to commence in summer 2025.
New Fortress Energy (NASDAQ: NFE) has completed a private exchange of $1.5 billion new senior secured notes, replacing over two-thirds of its outstanding senior secured notes that were due in 2026 and 2029. This transaction marks the final phase of the company's $2.7 billion issuance of new senior secured notes due 2029. All new notes will be traded as a single class.
New Fortress Energy (NASDAQ: NFE) announced the completion of the first step in a $2.7 billion issuance of new senior secured notes due 2029. The initial step involved funding $1.2 billion in new notes. The second step, expected to close in early December, will issue and privately exchange $1.5 billion in new notes. This transaction aims to refinance $2.4 billion of existing bonds, extend the maturity of $900 million of a $1 billion Revolving Credit Facility to October 2027, and raise approximately $325 million in gross proceeds. Combined with a $400 million common equity offering completed in September, this marks a significant milestone in strengthening the company's balance sheet and positioning it for future growth. The second step is subject to customary closing conditions.
Pennybacker Capital Management has completed the acquisition of the Miami LNG business from New Fortress Energy (NFE). The facility features one liquefaction train producing up to 8,300 MMBtu per day of LNG, serving hospitality, industrial, transportation, aerospace, and marine bunkering sectors in Florida and the Caribbean. The business offers 15-40% cost advantages over traditional fuels.
Daniel McLaughlin has been appointed as President and Chief Commercial Officer to lead the Miami LNG business, bringing over 10 years of energy sector experience. The acquisition aims to support energy transition in underserved markets and expand LNG solutions across the Southeast and Caribbean regions.
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