New York - April 26, 2022
New Fortress Energy Inc. (NASDAQ: NFE) (together with its affiliates, “NFE”) today announced that the U.S. Coast Guard, in coordination with the Maritime Administration, has affirmed the completeness of NFE’s deepwater port license application and will proceed with the preparation of an environmental impact statement as part of the environmental review within the 356-day application process.
NFE’s application proposes the ownership, construction, operation, and eventual decommissioning of an offshore natural gas export deepwater port, known as New Fortress Energy Louisiana FLNG, that would be located in Federal waters approximately 16 nautical miles off the southeast coast of Grand Isle, Louisiana in a water depth of approximately 30 meters. The deepwater port would allow for the export of approximately 145 billion cubic feet of natural gas per year, equivalent to approximately 2.8 million tons per annum (MTPA) of LNG.
“This is a significant step forward for our effort to build the first Fast LNG facility in the United States,” said Wes Edens, Chairman and CEO of NFE. “With rapid deployment, this project can help address the energy crisis in Europe and support our efforts to reduce energy poverty by providing more affordable, reliable and cleaner fuel to our growing portfolio of customers.”
Accessing abundant U.S. gas supply by leveraging existing infrastructure, NFE’s Fast LNG liquefaction design pairs the latest advancements in modular, midsize liquefaction technology with jack up rigs or similar offshore infrastructure to enable a much lower cost and faster deployment schedule than today’s floating liquefaction vessels and onshore liquefaction terminals.
Subject to the receipt of all required permits and approvals, NFE targets beginning operations in the first quarter of 2023.
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, ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations seek to support global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.
New Fortress Energy Inc. - press release