New Fortress Energy to sell Miami (U.S.) liquefaction and storage facility
New Fortress Energy announced that it has entered into a definitive agreement to sell its liquefaction and storage facility in Miami, Florida (“Miami Facility”) to a U.S. middle-market infrastructure fund. The transaction is expected to close in the third quarter of 2024 subject to customary terms and conditions.
The Miami Facility is a small-scale liquefaction facility with one liquefaction train capable of producing 8,300 MMBtu of LNG per day. The facility has three LNG storage tanks with a total capacity of approximately 1,000 cubic meters as well as two separate LNG transfer areas capable of serving both truck and rail. The facility is authorized to export up to 60,000 tpy of LNG to Free Trade Agreement (FTA) and Non-FTA countries for a 20-year term that began on February 5, 2016.
“The Miami Facility is the inaugural asset of NFE and we are proud to have built this best-in-class infrastructure. Today’s sale highlights our commitment and execution of our asset sale program, allowing us to reduce debt and recycle proceeds into high return downstream projects,” said Wes Edens, Chairman and CEO of New Fortress Energy.
Related News
Related News
- Japan's Mitsubishi to acquire stake in Petronas LNG plant
- McDermott awarded Rovuma LNG Phase 1 FEED contract in Mozambique
- Wood leads industry project to accelerate CCUS with guidelines for CO2 specifications
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Sonatrach, Saudi Aramco raise prices for LPG by 3%–4% in October
- Amarinth secures $1-MM order of API 610 pumps for Coral North FLNG project in Mozambique
Comments