New Fortress to supply LNG to Brazilian plants
US-based New Fortress Energy said August 11 it signed supply agreements to deliver natural gas to fertiliser plants in Brazil.
New Fortress (NFE) will deliver approximately 1.4mn gallons of LNG over a five-year term to two fertiliser plants operated by subsidiaries of Brazil’s Unigel Participacoes. Deliveries are set to begin during the first quarter of 2022.
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“We are excited to become the strategic gas supply partner of Unigel, one of the premier industrial companies in Brazil,” NFE CEO Wes Edens said. “This partnership demonstrates the value our LNG import terminals will provide to customers in Brazil as we bring affordable, reliable energy supply and support industry throughout Brazil.”
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.
NFE 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.