Golar LNG Ltd shares plunged almost 8 percent after Chief Executive Iain Ross resigned after nearly four years with the Norwegian-founded LNG shipping and projects company as it was completing the sell-off of assets to US LNG-for-power projects company New Fortress Energy.

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New Fortress Energy Inc, the New York-based company with a growing LNG projects portfolio in Latin America and the Caribbean, has entered into two deals with a combined value of $5 billion, one to acquire Golar LNG Partners and a second to take over Hygo Energy Transition, a Brazil-focused joint venture owned by Stonepeak Infrastructure Partners and shipping company Golar LNG Ltd.

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Golar LNG Partners has entered into an agreement and plans to merge with New Fortress Energy Inc, the New York-based company with a growing LNG projects portfolio in Latin America and the Caribbean.

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New Fortress Energy, the New York-based developer of liquefied natural gas and power projects in Latin America and the Caribbean, has signed two long-term LNG agreements to acquire supplies to support its gas and power businesses in Puerto Rico, Mexico and Nicaragua.

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New Fortress Energy, the developer of liquefied natural gas and power projects in Latin America and the Caribbean with new LNG import projects in Nicaragua and Mexico, said the company entered into a temporary supply termination agreement with the LNG subsidiary of UK utility Centrica.

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New Fortress Energy, the developer of liquefied natural gas and power projects in Latin America and the Caribbean, narrowed its fourth-quarter losses while revenues rose as it embarked on new LNG import projects in Nicaragua and Mexico and was set to bring a venture on stream in Puerto Rico.

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