“This important and strategic partnership between the Government of Jamaica and New Fortress Energy to transition Jamaica’s energy sector to natural gas will assist in enabling the Government to hold significant benefits for the Jamaican people; job creation opportunities, greater stability in the sector, innovation for our people and generally a brighter future for Jamaica,” said Andrew Holness, Jamaican Prime Minister. “Ultimately, Jamaica’s energy, efficiency, and security will be strengthened.”
Indeed, Jamaica has historically relied upon oil for as much as 97 percent of its energy needs.(1) Since our Montego Bay Terminal began operations in 2016, the country has diversified its energy supply for the first time, reducing its dependency on oil-based energy production to just 16 percent.(2) This diversification is important for Jamaica, as natural gas is more affordable and price-stable than oil-based fuels, in addition to being better for the environment. Our two terminals provide liquefied natural gas (LNG) for more than 450 megawatts of efficient, modern, gas-fired power, meeting approximately two-thirds(3) of Jamaica’s average daily electricity demand.
Since we first invested, Jamaica has incorporated more than 80 megawatts of renewable energy4, with plans to reach 50 percent(5) renewable energy by 2030. We’re proud that our investments are helping pave the way for these powerful economic and environmental milestones.