New Fortress Energy said that after successfully producing LNG at its first floating LNG production unit offshore Altamira in the Gulf of Mexico the firm has now closed a $700 million loan for its second FLNG unit.
“Now operational, FLNG 1 expects to deliver its first cargo in August and enter full production thereafter,” said NFE.
The new loan will fully fund the construction of the FLNG II units,” added NFE.
This project will be developed in partnership with the Mexican state agency, the Federal Electricity Commission.
It will “utilize the extensive in-place terminal infrastructure onshore” in Altamira.
The new liquefaction unit will incorporate the same proprietary modular technology as the first Mexican project, from Atlanta-based Chart Industries.
This second Mexican project is scheduled to complete the construction phase in the first half of 2026.
“Our FLNG complex is advancing at a rapid pace as we have now produced LNG at our first unit, and fully financed our second,” said Wes Edens, Chairman and Chief Executive of NFE.
Project values
“These are large infrastructure projects that add considerable financial and operational value to our company and we are thrilled with the progress to date,” stated Edens.
NFE’s “Fast LNG” project comprises modular, midsize liquefaction technology with jack-up rigs to enable lower costs
The company’s other main assets comprise two LNG import terminals in Brazil, one at Santa Catarina in the south and a second at Barcarena in the state of Pará in the far northeast of Brazil.
