New Fortress Energy Acquires Mexico Export Permit

New Fortress Energy (NFE) has obtained an export permit for its Altamira Fast Liquefied Natural Gas (LNG) facility, granted by Mexico's Ministry of Energy (Secretaría de Energía - SENER). This permit enables the company to export up to 7.8 million metric tons until April 2028. The allotment significantly exceeds the capacity requirements for the 1.4 million tons per annum (MTPA) Fast LNG facility throughout the permit's validity.

The company had previously gained authorization from the U.S. Department of Energy, allowing the export of US-sourced LNG to Mexico and other Free Trade Agreement (FTA) countries.

Chairman and CEO of New Fortress Energy, Wes Edens, commented, "This permit is the final piece to the puzzle for launching our first Fast LNG in Altamira." He added that this authorization paves the way for the commencement of operations at their new LNG hub, set to begin in the third quarter of the current year. This development is considered a stride towards expanding access to more affordable, reliable, and cleaner energy for global customers.

The construction of the first 1.4 MTPA Fast LNG unit is more than ninety percent complete, and its deployment to Altamira is anticipated to start this month. As such, the operations are expected to start in the third quarter of 2023, keeping NFE on course to establish its new LNG hub. This achievement aligns with the company's mission to deliver cost-effective and dependable energy solutions to its global clientele.

New Fortress Energy manages natural gas and LNG infrastructure, and an integrated fleet of ships and logistics assets to deliver turnkey energy solutions to global markets. These operations contribute to global energy security, stimulate economic growth, promote environmental conservation.