New Fortress Energy

New Fortress Energy Signs EPC Contract and Begins Construction of 1.6 GW Power Plant to Serve 15-Year Agreement in Brazil

lczirr — Wed, 17 Apr 2024 20:48:00 +0000

New Fortress Energy Signs EPC Contract and Begins Construction of 1.6 GW Power Plant to Serve 15-Year Agreement in Brazil

Business Wire
April 17, 2024
By: Staff

CLICK HERE FOR FULL ARTICLE

Brazil

In the news

NEW YORK--(BUSINESS WIRE)--Apr. 17, 2024-- New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) today announced that it has finalized and executed an engineering, procurement and construction contract (the “EPC Contract”) with a consortium formed by Mitsubishi Power Americas and Andrade Gutierrez (the “MHI/AG Consortium”) for a 1.6 GW power plant to be built adjacent to the Barcarena LNG terminal.

NFE has also issued full Notice to Proceed to the MHI/AG Consortium to begin construction work under the contract. The power plant will provide firm power capacity under the previously announced 15-year Capacity Reserve Contract (“Agreement”) that NFE acquired from Denham Capital and CEIBA Energy, which closed in March 2024.

Under the terms of the fixed-price, date-certain EPC Contract, construction activities for the thermal power plant are already in progress with commercial operations projected to commence no later than August 2026. The power plant will operate under the 15-year Agreement with the Brazilian Chamber of Electric Energy Commercialization.

In Q1 2024, NFE completed construction and commissioning of both the Barcarena and Santa Catarina “TGS” terminals. Along with the existing 630 MW power plant and 25-year agreement, the Barcarena LNG terminal will now host and supply LNG to more than 2,200 MWs of power capacity owned by NFE, as well as supply natural gas to Norsk Hydro’s Alunorte alumina refinery under a 15-year contract which commenced in Q1 2024.

“We are very pleased to announce this EPC Contract and the start of construction for our 1.6 GW power plant in Barcarena. We are grateful to our partners at Mitsubishi Power and Andrade Gutierrez for their swiftness and collaboration in placing this great project into construction and we look forward to finalizing the work over the next 24 months,” said Andrew Dete, Managing Director of New Fortress Energy.

“This 1.6 GW power plant is a historic project for Brazil. It will allow for an efficient energy transition and ensure the reliability of the national electrical system. We are proud to participate together with Andrade Gutierrez to design and construct this important project to support NFE’s growth in Brazil,” said Tim Shore, Senior Vice President of LATAM Commercial and Regional Leader for Mitsubishi Power Americas.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the Company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

Cautionary Language Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these terms or other comparable words. Forward looking statements include but are not limited to: expectations related to the timing for when our 1.6 GW power plant will commence operations and the supply from the Barcarena LNG terminal.

These forward-looking statements are necessarily estimates based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company’s control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: failure to receive the expected fixed payments under our contracts, unknown and unforeseen risks related to the development, construction or commissioning schedule of the Barcarena power complex, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, and regulatory and legal challenges, among others; failure to receive expected financing on terms acceptable to NFE; receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; our inability to operationalize our plans for the projects and derive the benefits expected; common risks related to successful integration of the businesses; breach or failure by the parties to comply with the covenants and obligations under the agreements; nonpayment or nonperformance of obligations by the parties; inability to realize the anticipated benefits from the project or our partnerships; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; business disruption following the transaction; and the impact of public health crises, such as pandemics and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise these forward-looking statements, even though our situation may change in the future. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in NFE’s annual and quarterly reports filed with the Securities and Exchange Commission, which could cause its actual results to differ materially from those contained in any forward-looking statement.

lczirr Wed, 04/17/2024 - 16:48

Victor Favela uses positive energy to permit LNG projects

emilychase — Mon, 08 Apr 2024 20:43:19 +0000

Victor Favela uses positive energy to permit LNG projects

Victor Favela uses positive
energy to permit LNG projects

GET TO KNOW US

Meet Victor

With his relentless dedication to continuous learning and continuous excellence, Victor Favela has rightly earned the nickname "Mr. Results” from his NFE colleagues.

More than 25 years ago, he switched from civil structural design to the dynamic new world of natural gas distribution. "I fell in love with the natural gas industry and project management," he says. Since then, he has worked with industry leaders including Sempra, Kinder Morgan, Cheniere, and, for the past two years, New Fortress Energy as our Managing Director and Head of Permitting.

"I help NFE navigate the intricate regulatory landscape to secure approvals from key agencies," he explains. His ability to foster strong relationships and ensure compliance supports our acquisition of permits to keep the power flowing.

But for Victor, it's not just about the projects; it's about the people and the culture. "I love the fast pace of NFE,” he says. “I like the mentality of how to confront challenges in a positive way– thinking outside the box, and seeing the results.”

Those results include guiding his team to consistent success. "In 2023 alone, we submitted more than 100,000 pages of permit applications in Mexico and obtained all necessary permits," he says with pride in his team.

Born and raised in the tranquil streets of Chihuahua, Mexico, Victor grew up with a deep sense of community and a commitment to leading by example, which he now passes on to the next generation. "I am highly motivated to be the best version of myself,” he says, “so I can be an example to my kids, or, as I call them now, ‘my mini adults’.”

Victor looks forward to continuing to stretch his boundaries. "Professionally, I would like to be able to be part of global projects that promote clean energy accessibility worldwide," he shares. “Personally, attending Formula 1 races is a passion I’m eager to continue. I’ve been fortunate to experience the excitement in Austin and Mexico City, and I hope to attend races at all circuits around the world.”

With his unwavering determination and leadership, Victor is shaping and clearing the way for the future of energy. We’re grateful he brings his positive energy to us at NFE, sharing his invigorated approach to help ignite ideas and power our projects toward success.

emilychase Mon, 04/08/2024 - 16:43

Engineering program interns earn full-time employment here at NFE

emilychase — Wed, 03 Apr 2024 19:39:57 +0000

Engineering program interns earn full-time employment here at NFE

Engineering program interns earn
full-time employment here at NFE

Our Foundation

Growing Jamaica’s labor force

One of our greatest passions is building and growing STEM programs in local communities where we operate.

In Jamaica, we have created the tertiary engineering internship for engineering students completing their first degree at The University of the West Indies (UWI), University of Technology, Jamaica (UTECH), and Caribbean Maritime University (CMU). For six weeks, interns can create meaningful connections and gain first-hand experience in the world of liquefied natural gas (LNG) and cryogenics while bringing their youthful drive and fresh ideas to our business.

Thanks to their hard work and accomplishments during their internships, five of our scholarship recipients – Adam Bogle, O’Brian Simpson, David Smith, Terrain Turner, and Jada-Rochelle Walke – have recently been accepted into full-time positions at New Fortress Energy.

“NFE is delighted to play our role in building a robust knowledge-based economy by providing these brilliant, up-and-coming engineers with meaningful internships that can create direct employment for them,” said Verona Carter, Vice President of Public Affairs at New Fortress Energy. “Now that they’ve completed their studies and are working full-time, they can play their part in nation-building. STEM is the future, and we’re pleased to be part of the growth and development of this all-important sector in Jamaica.”

The students had been well-prepared during their college experiences, and their internships helped them continue their professional education through more direct, hands-on opportunities.

“I am always motivated to work hard and learn more,” said David Smith, a mechanical engineering major at UTECH who completed his internship at the Montego Bay LNG terminal. “It’s just an amazing environment for young people to learn and grow.”

They found their NFE experiences invaluable in understanding and finding their place in the industry.

“My internship provided a solid foundation, instilling confidence and building on the competences needed,” said Jada-Rochelle Walker, who studied mechatronics engineering at CMU and interned first with NFE’s small-scale team then at the Old Harbour Marine Terminal. “I'm now able to build on these experiences and apply myself even better, and to take on more responsibilities and contribute to the team and the company's success.”

“My performance and hard work paid off,” agreed Terrain Turner, who studied electrical power engineering at UWI and completed his internship at our combined heat and power (CHP) plant in Clarendon. “Now I can contribute in a tangible way and learn from a team of highly skilled, educated, and well-rounded individuals.”

The chance to make a difference for their neighbors has proved inspiring.

“As an operations technician, I feel a sense of responsibility knowing that I am now part of a critical infrastructure that powers and empowers communities and industries,” said Adam Bogle who studied industrial engineering at CMU and completed his NFE internship at the Old Harbour Marine Terminal.

O’Brian Simpson, an industrial engineering major from CMU who interned at the Clarendon CHP plant, appreciates that his efforts have helped him reach his first career goal.

“I’ve always wanted to work with NFE,” he said. “I did my research and made the most of my internship. I admire how the team carries out daily operations to ensure our customers are always satisfied, and how the team is interested in helping young people to learn and grow.”

This internship program supports our commitment to supporting Jamaica’s socioeconomic development. It introduces high-potential talent to the LNG sector, while also creating a pipeline for talented, full-time employees who can continue to advance our mission to light the world with positive energy.

emilychase Wed, 04/03/2024 - 15:39

New Fortress Energy announces transformative transactions in Puerto Rico

emilychase — Mon, 18 Mar 2024 12:37:03 +0000

New Fortress Energy announces transformative transactions in Puerto Rico

New Fortress Energy announces transformative transactions in
Puerto Rico

Business Wire
March 18, 2024
By: Staff

CLICK HERE FOR FULL ARTICLE

Puerto Rico

In the news

NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) is pleased to announce two transactions that further solidify our commitment to providing affordable and sustainable energy solutions in Puerto Rico.

The Company sold the emergency power plants it constructed on behalf of the U.S. Army Corps of Engineers in San Juan and Palo Seco to PREPA for $373 million in cash, subject to certain items and conditions. These plants were developed by the Company in 2023 in rapid response to a competitive bid by the U.S. Army Corps of Engineers to provide emergency power in order to stabilize the power grid in Puerto Rico. They have become a cornerstone of Puerto Rico's energy portfolio, delivering critical baseload power to stabilize the grid in the aftermath of recent natural disasters, and as contemplated, their ownership has been transferred to PREPA.

Following a competitive bid process, NFE was awarded and has entered into a new island-wide 80 TBtu gas supply contract with PREPA, ensuring continued gas supply to these power plants for up to four years. The expanded volumes under the contract will enable conversion of other plants on the island from diesel to gas, providing lower cost, cleaner energy to Puerto Rico.

As a result of the early termination of the contracts that have governed the construction, operations, and associated costs of these plants, NFE expects to negotiate a mutually beneficial settlement of all outstanding obligations in the near future.

“We entered the Puerto Rico market in 2017 based on the island’s emergency need for natural gas and power. The transactions announced today mark a significant milestone in our continued commitment to Puerto Rico's energy security and cost reduction efforts while significantly increasing our business in the region," said Wes Edens, Chairman and CEO of New Fortress Energy.

A brief description of these transactions can be found on the NFE website for your reference.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

Cautionary Language Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these terms or other comparable words. Forward looking statements include but are not limited to: expectations related to maintenance and repair work of Puerto Rico’s power system and grid; ability to improve grid stability in Puerto Rico; the ability of the project to transition to a cleaner, more affordable and reliable energy system; and satisfaction of the terms and conditions with respect to the transactions.

These forward-looking statements are necessarily estimates based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company’s control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: unknown and unforeseen risks related to the development, construction or commissioning schedule of the facilities, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, and regulatory and legal challenges, among others; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; we will be unable to operationalize our plans for the projects and derive the benefits expected; common risks related to successful integration of the businesses; breach or failure by the parties to comply with the covenants and obligations under the agreements; nonpayment or nonperformance of obligations by the parties; inability to realize the anticipated benefits from the project or our partnerships; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; business disruption following the transaction; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise these forward-looking statements, even though our situation may change in the future. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in New Fortress Energy Inc.’s annual and quarterly reports filed with the Securities and Exchange Commission, which could cause its actual results to differ materially from those contained in any forward-looking statement.

emilychase Mon, 03/18/2024 - 08:37

New Fortress Energy places Terminal Gas Sul LNG Terminal in Santa Catarina, Brazil into operation

emilychase — Fri, 01 Mar 2024 13:35:21 +0000

New Fortress Energy places Terminal Gas Sul LNG Terminal in Santa Catarina, Brazil into operation

Business Wire
March 1, 2024
By: Staff

CLICK HERE FOR FULL ARTICLE

Brazil

In the news

New Fortress Energy, Inc. (Nasdaq: NFE) (“NFE” or the “Company”) today announced that its Terminal Gas Sul (“TGS”) LNG terminal located in Santa Catarina, Brazil, is now operational with the Energos Winter Floating Storage Regasification Unit (FSRU) on-site.

TGS is an offshore LNG import terminal with a capacity of approximately 6 MTPA (300 TBtu) and maximum send out of 500 mmscf/day. The terminal includes the Winter FSRU and a 33-kilometer, 20-inch pipeline, which connects the facility to the existing inland Transportadora Brasileira Gasoduto Bolívia-Brasil (“TBG”) pipeline.

TGS stands as a distinctive and promising prospect for NFE, as it presents a high-growth opportunity for the Company within the Brazilian power and gas markets. The terminal is connected by pipeline to the wider Brazilian gas market, including more than 3.5 GW of power that does not have firm, long-term gas supply contracts and more than 300 TBtu of industrial and residential gas consumers in the south region of Brazil.

Both power and gas demand are set to substantially increase, while the historical main source of gas supply from Bolivia has declined and is expected to further diminish in the near term. The TGS terminal is essential infrastructure and will play a vital role in meeting the region's power and gas requirements.

“TGS is directly connected to more than 3.5 GW of existing power infrastructure that lacks firm supply agreements, making the terminal a key asset in Brazil’s evolving energy landscape. With numerous new power projects required to balance the grid in Brazil in the near term, NFE is poised to meet growing demand by leveraging its vertically integrated portfolio of LNG assets and expertise," said Wes Edens, Chairman and CEO of New Fortress Energy.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

Cautionary Language Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these terms or other comparable words. Forward looking statements include but are not limited to: expectations related to maintenance and repair work of Puerto Rico’s power system and grid; ability to improve grid stability in Puerto Rico; the ability of the project to transition to a cleaner, more affordable and reliable energy system; and satisfaction of the terms and conditions with respect to the transactions.

These forward-looking statements are necessarily estimates based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company’s control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: unknown and unforeseen risks related to the development, construction or commissioning schedule of the facilities, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, and regulatory and legal challenges, among others; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; we will be unable to operationalize our plans for the projects and derive the benefits expected; common risks related to successful integration of the businesses; breach or failure by the parties to comply with the covenants and obligations under the agreements; nonpayment or nonperformance of obligations by the parties; inability to realize the anticipated benefits from the project or our partnerships; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; business disruption following the transaction; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise these forward-looking statements, even though our situation may change in the future. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in New Fortress Energy Inc.’s annual and quarterly reports filed with the Securities and Exchange Commission, which could cause its actual results to differ materially from those contained in any forward-looking statement.

emilychase Fri, 03/01/2024 - 08:35

New Fortress Energy places Barcarena LNG Terminal in Pará, Brazil into operation

emilychase — Thu, 29 Feb 2024 14:48:54 +0000

New Fortress Energy places Barcarena LNG Terminal in Pará, Brazil into operation

Business Wire
February 29, 2024
By: Staff

CLICK HERE FOR FULL ARTICLE

Brazil

In the news

New Fortress Energy Inc. (Nasdaq: NFE) (“NFE” or the “Company”) today announced that its 6 MTPA (300 TBtu) Barcarena LNG terminal located in Pará, Brazil is now operational with the Energos Celsius Floating Storage Regasification Unit (FSRU) on-site. NFE cohosted an event on-site to celebrate the terminal’s commissioning with the state government of Pará and the Ministry of Mines and Energy for Brazil, including Helder Barbalho, the Governor of Pará, and Alexandre Silveira, the Minister of Mines and Energy for Brazil.

NFE’s Barcarena LNG terminal is strategically located at the mouth of the Amazon River in Pará, Brazil and serves as the sole natural gas supply source in the state of Pará and the North region of Brazil. The facility consists of an offshore terminal and FSRU that will supply LNG to several industrial customers, including a 15-year contract with Norsk Hydro’s Alunorte refinery, the largest alumina refinery in the world. The terminal will not only support industrial development but also reduce emissions and pollution in the environmentally sensitive Amazon region by providing a cleaner, affordable and reliable alternative to oil-based fuels.

NFE expects to immediately begin delivering natural gas to Norsk Hydro’s Alunorte refinery under a 15-year gas supply agreement. NFE will supply the alumina production facility with approximately 30 TBtus of natural gas annually, reducing the refinery’s annual CO2 emissions by an estimated 700,000 tonnes per annum and supporting Norsk Hydro's global commitment to reduce greenhouse gas emissions by 30% by 2030.

The Barcarena terminal will also supply natural gas to NFE’s 630 MW power plant, which is currently under construction adjacent to the Barcarena terminal. The power plant remains on track to achieve COD in the third quarter of 2025 and is approximately 50% complete. Additionally, the company intends to utilize its existing infrastructure in place in Barcarena to strategically expand its power complex by 1.6 GW under the previously announced New Power Project PPA, with an expected COD no later than July 2026. NFE has applied to transfer the New Power Project PPA to a permitted site adjacent to the Barcarena terminal and expects close the acquisition in the first quarter of 2024, subject to regulatory approval.

“Our Barcarena complex is a great example of NFE’s fully integrated LNG-to-power business model, where our LNG import terminal provides a significant competitive advantage. We are honored to support Brazil, the state of Pará, and Norsk Hydro in their decarbonization efforts while growing energy supply and economic opportunity in the region,” said Wes Edens, Chairman and CEO of New Fortress Energy.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

Cautionary Language Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these terms or other comparable words. Forward looking statements include but are not limited to: expectations related to maintenance and repair work of Puerto Rico’s power system and grid; ability to improve grid stability in Puerto Rico; the ability of the project to transition to a cleaner, more affordable and reliable energy system; and satisfaction of the terms and conditions with respect to the transactions.

These forward-looking statements are necessarily estimates based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company’s control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: unknown and unforeseen risks related to the development, construction or commissioning schedule of the facilities, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, and regulatory and legal challenges, among others; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; we will be unable to operationalize our plans for the projects and derive the benefits expected; common risks related to successful integration of the businesses; breach or failure by the parties to comply with the covenants and obligations under the agreements; nonpayment or nonperformance of obligations by the parties; inability to realize the anticipated benefits from the project or our partnerships; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; business disruption following the transaction; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise these forward-looking statements, even though our situation may change in the future. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in New Fortress Energy Inc.’s annual and quarterly reports filed with the Securities and Exchange Commission, which could cause its actual results to differ materially from those contained in any forward-looking statement.

emilychase Thu, 02/29/2024 - 09:48

Empowering women: Inspiring stories of resilience and achievement

emilychase — Tue, 20 Feb 2024 18:41:50 +0000

Empowering women: Inspiring stories of resilience and achievement

Empowering women: Inspiring stories
of resilience and achievement

GET TO KNOW US

Celebrating Women’s History Month

This year, the Women’s History Month theme is “Women Who Advocate for Equity, Diversity, and Inclusion,” recognizing the struggles and achievements of women worldwide. At New Fortress Energy, we’re thrilled that our teams include women who are leading this charge to power the world with their positive energy every day. Today, it’s our pleasure to introduce three of these remarkable NFE women and share their encouraging messages.

Meet Cassiélle

“Believe in Yourself, You Can Conquer the World!” – Cassiélle Anaiá Marques de Rangel, Communication Specialist, Brazil

Even as a little girl, Cassiélle saw herself as the protagonist of her own story – and she wanted to do even more.

“I wanted to be part of other people's stories,” she says. “I started my career as a radio announcer at the age of 8, and I was a TV reporter for 15 years.” She also earned her undergraduate degree in music with a specialization in radio and TV.

Six years ago, Cassiélle redirected her career to corporate communications, and since 2021, she has overseen communications, social actions, and community relations for NFE’s socio-environmental programs related to our Barcarena project in Pará, Brazil.

These experiences have given her a unique perspective on Women’s History Month.

“Women’s History Month is a time to remember the struggles and sacrifices of women who are part of history, to celebrate all the advances they have achieved, and to praise today’s women who are symbols of resistance and female empowerment,” she says. “My mother, Jurandi Marques Rangel, was my first role model in this area. She started sewing her own school uniforms at the age of 7. She has always been a model of resilience, competence, entrepreneurship, and female empowerment. Today, I also admire my work colleagues who are active voices in a predominantly male environment, and our community leaders for their courage in fighting for the rights of traditional peoples.”

Cassiélle appreciates that her local northern Brazilian workplace culture requires awareness-raising policies such as quotas for hiring women and mechanisms to deal with gender prejudice, but she sees more work to be done.

“Simply increasing the number of women companies hire will not ensure that women are respected and treated fairly,” she says. “We need to change the culture by first understanding the scenario and identifying behavioral barriers. Structural measures, combined with awareness campaigns and incentives for professional training, establish clear parameters for the importance of including and valuing women in the workplace culture that companies seek.”

She encourages other women to take a primary role in that effort, and she shares some advice for today’s children as they grow into tomorrow’s leaders.

“If I were raising a daughter, I would try to create a family environment where she felt safe and confident to dream and discover her aptitudes to be whatever she wants to be,” Cassiélle affirms. “I would encourage her to be happy, have dreams, imagine everything she would like to be, be better at every test to prove her ability, and become an adult who is aware of her rights and proud to be a woman who has empathy and sorority, and who is an agent for transforming the lives of other women.”

She also has an uplifting message for all women along their journey.

“If you get discouraged, remember the little girl who still lives in you and the truest dreams you've ever had,” she says. “If you've already achieved your dreams, hug yourself – and dream some more. If you haven't achieved them, go in search of what you wanted to be and be it. Learn to identify and create opportunities. Believe in yourself, you can conquer the world!”

It’s a mantra Cassiélle has taken to heart, and it has paid off in professional and personal fulfillment that overflows to others.

“I consider my work to be a mission, and I feel fulfilled with each new challenge,” she says. “I feel empowered when my work allows me to reach and transform other lives. This positive energy fuels my dreams, makes me go on more gently with myself, without so many demands and questions. It renews my certainty that I can also do big, important things and help other women feel empowered too.”

Meet Shashagay

“See It, Dream It, Do It!” – Shashagay Brissette, Assistant Manager, Global Vessel Operations, Marine and Terminal, Montego Bay, Jamaica

Shashagay spent a decade as a seafarer working in power plants, containerized ships, and liquefied natural gas carriers before joining NFE six years ago as an Operator at our Montego Bay, Jamaica, facility. She has since advanced to her current role as Assistant Manager, but she has only just begun.

“I do not believe that I have reached the pinnacle of my dreams, so I continue to learn to nurture my growth,” she says. “I embrace continuous learning, not only in my field but other associated fields, to create versatility and diversity and increase my value and impact as a woman in the workplace, in the household, and in society. I love to set goals that seem impossible, and then aspire to accomplish them. This brings a sense of satisfaction and pride that seems matchless.”

Shashagay recognizes that she is part of a long tradition of women striving to do the same thing, and she embraces Women’s History Month as a time to recognize and celebrate the achievements and contributions of women throughout history.

“It serves as a reminder to acknowledge the often-overlooked impact of women and their role in shaping society,” she says. “Celebrating Women’s History Month advertises the value of women in society and highlights the impact women have made globally, promoting awareness of their achievements and inspiring future generations.”

To put action behind that aspiration in the workplace, Shashagay suggests companies could implement inclusive policies, involve women in important decision-making, provide mentorship programs geared toward training women into management roles, and ensure fair pay. She also encourages young women to live up to their potential.

“I would advise young girls to be brave and stay strong, with shoulders back and heads high,” she says. “Stay in the game, overcome the struggles, envision your dreams, and get it done. Embrace your uniqueness, develop and cultivate your confidence, network, ask questions, be persistent, and never give up. See it, dream it, do it!”

Shashagay has found creative ways to personally honor the spirit of Women’s History Month all year as well.

“I also associate myself with strong women and set my standards accordingly to build courage and confidence,” she explains. “Talented actress Viola Davis inspires me through her award-winning performances and her commitment to social issues. I also support women-owned businesses. I talk with my daughters about women’s challenges and achievements to prepare and mold them to take charge of whatever their future holds.”

Meet Nadia

“Trust That You Can Achieve Whatever You Set Your Mind To.” – Nadia Berrios, HR Business Partner, Mexico and Nicaragua

Nadia joined us at NFE nearly three years ago, starting her journey with us in Puerto Sandino, Nicaragua and later moving to Mexico to support our team in La Paz.

“I fell in love with NFE’s vision,” she says simply. “I’ve been able to work with wonderful professionals and excellent leaders in many areas of the business. I also contributed to the emergency power project in Puerto Rico and supported the HR handover for operations in Mexico.”

As an HR professional, Nadia strongly believes in helping companies ensure women are included and appreciated in the workplace.

“Companies need to implement policies and practices that support pay equity,” she says, “offer leadership development programs that support women’s career advancements and provide them with access to the guidance and support of more experienced leaders within the organization.”

Nadia also loves her other job – being the mother to three daughters who fuel her drive to honor Women’s History Month through both her words and her actions.

“I see Women’s History Month as an opportunity to celebrate the achievements of so many women before us who fought tirelessly for justice and equality, and thank them for all their dedication and bravery,” she says. “It’s also a time to remember the legacy we are building for future generations of women in terms of dignity, recognition, equality, and courage in the fight for our dreams, so we can empower those future leaders from childhood and convince them that women can achieve everything we set out to do.”

It's a wide-reaching passion she learned close to home.

“Undoubtedly, my mother is the woman I admire the most,” Nadia says. “Despite all the difficulties, she always fought for her goals, found her strength and wisdom, and encouraged me to become my best self.”

In her interactions with the next generation of women, she hopes to instill the same desire to excel.

“Take the time to soul search and understand what your interests are, what your short and long-term goals are, and what you want to accomplish,” she advises. “Trust that you can achieve whatever you set your mind to, and you have what you need to make it happen. Know your self-worth and demand what you deserve. Choose the career that makes you happy. No matter how unimportant it may seem, learning from the bottom is the best way to learn. Don't be intimidated by what you don't know or by the mistakes you make, because this is also part of the path to success.”

emilychase Tue, 02/20/2024 - 13:41

New Fortress Energy completes sale of stake in Energos Infrastructure

emilychase — Thu, 15 Feb 2024 13:24:12 +0000

New Fortress Energy completes sale of stake in Energos Infrastructure

Business Wire
February 15, 2024
By: Staff

CLICK HERE FOR FULL ARTICLE

In the news

Summary Highlights

NFE sells 20% stake in Energos Infrastructure to funds managed by Apollo
NFE to use net proceeds to repay debt and invest in accretive downstream projects
NFE charters six LNG vessels from Energos today, and will continue to partner with Energos in the future to support significant growth at NFE’s downstream terminals

NEW YORK--(BUSINESS WIRE)--Feb. 15, 2024-- New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced that it has completed the sale of its 20% equity interest in Energos Infrastructure (“Energos”) to funds managed by Apollo (NYSE: APO) (the “Apollo Funds”). The Company intends to use net proceeds from this transaction for general corporate purposes, including repaying debt and investing in accretive downstream projects.

Energos is a global maritime infrastructure company formed by NFE and Apollo Funds in August 2022 to provide LNG delivery, storage, and regasification services to a diverse customer base comprised of utilities and energy companies under long-term charters. Energos owns and operates 13 LNG infrastructure vessels, consisting of 9 Floating Storage and Regasification Units, 2 Floating Storage Units, and 2 LNG carriers.

NFE currently charters six vessels from Energos and will maintain an active relationship with Energos to support NFE’s global operations through vessel charters for a period up to 20 years. These charters have either commenced or will commence upon expiration of each vessel’s existing third-party charter agreement.

“We are pleased to have established Energos with Apollo Funds, our joint venture partner, and to have built it into a premier LNG maritime infrastructure company today. Completing the sale of our interest to Apollo Funds allows us to recycle proceeds into high return downstream projects and to reduce debt," said Wes Edens, Chairman and CEO of New Fortress Energy.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

About Energos Infrastructure

Energos Infrastructure provides critical infrastructure for the delivery, storage, and regasification of LNG through long-term contracts, helping to power countries around the world and reduce their reliance on oil and coal, enhance energy security and reliability, and enable potential cost savings. Energos’ asset platform serves a diversified customer base of utilities and energy companies worldwide under third-party charters.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2023, Apollo had approximately $651 billion of assets under management. To learn more, please visit www.apollo.com.

Cautionary Language Regarding Forward-Looking Statements

This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these terms or other comparable words. Forward looking statements include but are not limited to: our ability to close, and the timing of the closing, of our acquisition of the PPA, including our receiving the required regulatory approvals, expectations related to the amounts of annual fixed capacity payments under the PPA, our ability to transfer the PPA and expectations related to the timing for when our Santa Catarina power complex will commence operations and complete its expansion as well as our ability to finance that construction.

These forward-looking statements are necessarily estimates based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company’s control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: failure to achieve the terms and conditions to acquiring the PPA, including not receiving the required regulatory approvals, failure to receive the expected fixed payments under our contracts, unknown and unforeseen risks related to the development, construction or commissioning schedule of the Santa Catarina power complex, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, and regulatory and legal challenges, among others; failure to receive expected financing on terms acceptable to NFE; receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; our inability to operationalize our plans for the projects and derive the benefits expected; common risks related to successful integration of the businesses; breach or failure by the parties to comply with the covenants and obligations under the agreements; nonpayment or nonperformance of obligations by the parties; inability to realize the anticipated benefits from the project or our partnerships; adverse regional, national, or international economic conditions, adverse capital market conditions and adverse political developments; business disruption following the transaction; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.

emilychase Thu, 02/15/2024 - 08:24

New Fortress Energy receives Customs ruling for its FLNG facility

emilychase — Mon, 29 Jan 2024 15:18:12 +0000

New Fortress Energy receives Customs ruling for its FLNG facility

Business Wire
January 29, 2024
By: Staff

CLICK HERE FOR FULL ARTICLE

Mexico

In the news

New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced that U.S. Customs and Border Protection has issued a ruling confirming that the transportation of LNG produced at the Company’s FLNG facility located offshore Altamira, Mexico by non-U.S. qualified vessels would not violate the Jones Act.

As a result of this ruling, NFE is now able to sell and deliver LNG produced at its FLNG facility located offshore Altamira, Mexico to U.S. locations, including Puerto Rico. Puerto Rico is a key downstream market for the Company.

“We are extremely pleased to receive this ruling for our FLNG facility since it not only supports one of the Company’s largest projects but also supports the people of Puerto Rico,” said Wes Edens, Chairman and CEO of New Fortress Energy.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.

emilychase Mon, 01/29/2024 - 10:18

Amalia Avakian thrives on turning challenges into triumphs

emilychase — Wed, 24 Jan 2024 16:41:17 +0000

Amalia Avakian thrives on turning challenges into triumphs

GET TO KNOW US

Meet Amalia

Amalia Avakian, our construction manager at New Fortress Energy, is not just creating structures – she's also using challenges as the building blocks for stories of success.

Her journey began with her fascination for bridges and other large construction projects.

“I was always interested in how a human being could create these structures from zero, and how these projects benefit society,” she recalls.

Amalia's curiosity led her to become an engineer when others said it was difficult, and then to tackle projects others hesitated to take on. Today, she manages our groundbreaking liquefied natural gas terminal and power plant construction projects in Barcarena, Pará, Brazil, pushing the boundaries of innovation. With the terminal's operations on the horizon, Amalia eagerly anticipates delivering a safe, quality handover to the operations team.

“In an area where there is still a lack of development,” she says, “these facilities will certainly be part of a new start of positive economic, social, and environmental growth for Pará.”

She also played a pivotal role in a 200-megawatt emergency power plant construction initiative in Puerto Rico.

“NFE is a place where I can truly be myself, take on exciting challenges, embrace new responsibilities, and think outside the box,” she says. “Everyone works together respectfully with the same goal of providing clean energy to society. I'm thrilled to be part of a team where I can contribute to improving on-site solutions by collaborating transparently, building strong relationships, and working toward a shared vision that brings more benefits to the community.”

Amalia's determination traces back to her childhood. Born in Brazil, she lived in Raleigh, N.C., from age 1 to 7 while her father earned his Ph.D. degree in mathematics. When she returned to Brazil, in addition to having to learn Portuguese and spend extra time studying to keep up at school, she also faced bullying from classmates who teased her for being different. Instead of retreating, though, Amalia persevered to become one of the best students in her class.

Years later, when her mother was diagnosed with lung cancer and navigated recovery, Amalia was by her side every step of the way.

“Last Christmas, we went to Italy, and my mother was able to walk as much as 14 kilometers a day,” Amalia said. “Even if she’s in pain, she never gives up. When I find myself facing a big challenge and doubt my ability to achieve the expectations, she gives me the confidence to believe in myself. I once told her I would one day provide a better life for her, and I will always strive to do that.”

As a disciplined leader, Amalia recognizes the importance of balancing work and personal well-being. She is working to incorporate more sports into her routine for physical and mental health and indulge in international travel for rejuvenation.

We celebrate Amalia's dedication to overcoming hurdles and are grateful to have her as a driving force in our mission to power the world with positive energy. More than construction, her story is a testament to the power of transforming challenges into triumphs and leading the way toward a more sustainable future.

emilychase Wed, 01/24/2024 - 11:41