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New Fortress Energy makes FID on Fast LNG facility

Published by , Assistant Editor
LNG Industry,

New Fortress Energy (NFE) announced that it has made a Final Investment Decision (FID) on an innovative ‘Fast LNG’ 1.4 million tpy capacity modular liquefaction facility to provide a low-cost supply of liquefied natural gas for its growing customer base.

The Fast LNG design pairs the latest advancements in modular, midsize liquefaction technology with jack up rigs or similar floating infrastructure to enable a much lower cost and faster deployment schedule than today’s floating liquefaction vessels. A permanently moored FSU will serve as an LNG storage facility alongside the floating liquefaction infrastructure, which can be deployed anywhere there is abundant and stranded natural gas.

“Our innovative Fast LNG liquefiers should allow us to produce LNG between an expected US$3 - 4 million Btu for our growing portfolio of terminals around the world,” said NFE CEO and Chairman Wes Edens. “This technology can be installed quickly and cheaply to access stranded, low-cost natural gas at a fixed price to meet the global demand for more affordable, reliable and cleaner energy. Alongside our terrific partners, we look forward to deploying one of the world’s lowest-cost LNG production facilities by 2022.”

NFE has issued a limited notice to proceed to Fluor, Chart Industries Inc., and Baker Hughes for the construction of the first Fast LNG project, which is anticipated to become Operational in an estimated 20 months.

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