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New Fortress Energy signs two long-term LNG supply agreements

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LNG Industry,

New Fortress Energy Inc. (NFE) recently announced that it has signed two long-term LNG supply agreements to support its natural gas and electricity businesses in Puerto Rico, Mexico, and Nicaragua.

With these purchases, as well as previous purchases of LNG for the company’s Jamaican operations, NFE has purchased LNG volumes equal to about 80% of its expected needs across its current portfolio of terminals and assets.

“As a company, our goal is to match our LNG purchases as much as possible with our customer volumes, thus reducing our exposure to changes in the market price for LNG across our portfolio,” said New Fortress Chairman and CEO Wes Edens. “Approximately 70% of our gas contracts with our customers are indexed to Henry Hub and with the contracts signed today, we will match most of those volumes with these commitments that are also indexed to Henry Hub.”

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