Puerto Rican watchdog oks revised LNG contract with NFE
Puerto Rico’s financial oversight board has approved a revised LNG supply agreement between Puerto Rico Electric Power Authority (PREPA) and New Fortress Energy affiliate NFEnergía. The revision is expected to save the country more than $4 billion in fuel costs over the duration of the contract.
NFE withholds LNG shipments to Puerto Rico in tactical move
New Fortress Energy (NFE) is withholding shipments to Puerto Rico over disputed payment terms. The withheld cargoes undermine the island’s ability to meet electricity demand, raising the risk of blackouts during the peak summer season.
New Fortress Energy posts revenue rise as LNG projects advance in Jamaica and Puerto Rico
New Fortress Energy, the owner of LNG facilities in Florida and in Jamaica and projects in Puerto Rico and the US northeast, posted a third-quarter rise in revenues while its net losses widened to $54.4 million amid continuing start-up costs and other venture expenses.
