Puerto Rico Confirms $4 Billion New Fortress Energy Contract

Puerto Rico has negotiated a $4 billion deal with New Fortress Energy to supply the island with LNG for seven years, the governor’s office for the US territory said in a statement.

• Deal requires approval form the Financial Oversight and Management Board
• New deal includes three-year extension option
• New deal eliminates exclusivity
  • Deal includes ‘tolling agreement’ that will allow the government to use the LNG terminal in San Juan if New Fortress is unable to supply fuel
• The board denied a 15-year $20 billion deal with New Fortress in July
• NOTE: New Fortress’ $20 Billion Puerto Rico Deal Halted by ...