New Fortress Energy narrows loss
New York-based New Fortress Energy said August 5 that it recovered somewhat from a $39.5mn loss during the first quarter of the year.
New Fortress reported second quarter revenue of $223.8mn, compared with $145.7mn during the first quarter. It still recorded a net loss of $1.7mn, though that was an improvement over the $39.5mn loss in the first quarter.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
New Fortress in January acquired Golar LNG in a multilateral deal valued at around $5bn. Among the assets obtained through the deal were a floating storage and regasification terminal in Brazil, a small fleet of LNG carriers and a stake in a floating liquefaction vessel, Hilli.
New Fortress also entered into a definitive agreement to acquire CH4 Energia, a Brazilian company with the necessary permits to develop an LNG terminal at the port of Suape, which could go into service as early as next year.
The company in June purchased LNG volumes from undisclosed distributors that will satisfy “approximately 100%” of its needs for five terminals across the Caribbean, Mexico and Central America for the next six years.