Press release
New Fortress Energy to Acquire Hygo Energy Transition Ltd. and Golar LNG Partners LP in Combined $5 Billion Transaction
Investment Highlights NFE will become the leading gas-to-power company in Brazil, one of the largest economies in the world with a population of over 200
About this update from Golar Lng Limited
[{"type":"text","content":"\nInvestment Highlights\n\n\nNFE will become the leading gas-to-power company in Brazil, one of the largest economies in the world with a population of over 200 million\n\n\nAdds 2700MW of power generation operational or in development and robust customer pipeline in Brazil’s rapidly growing natural gas and power markets\n\n\nProvides world-class LNG shipping experience and assets for NFE’s fully integrated approach to advance the global energy transition\n\n\nAccelerates NFE’s rapid growth, with expansion of LNG terminals operational or in development from five to nine\n\n\n NEW YORK--(BUSINESS WIRE)--\nNew Fortress Energy Inc. (Nasdaq: NFE) (“NFE”) today announced that it has entered into definitive agreements to acquire Hygo Energy Transition Ltd. (“Hygo”), a 50-50 joint venture between Golar LNG Limited (Nasdaq: GLNG) (“GLNG”) and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (“Stonepeak”), and Golar LNG Partners, LP (Nasdaq: GMLP) (“GMLP”).\n\n“With a strong presence in Brazil and a world-class LNG shipping business, Hygo and GMLP are excellent additions to our efforts to accelerate the world’s energy transition,” said Wes Edens, Chairman and CEO of NFE. “The addition of Hygo will quickly expand our footprint in South America with three gas-to-power projects in Brazil’s large and fast-growing market. With GMLP, we gain LNG ships and world-class operators that are an ideal fit to support our existing terminals and robust pipeline.”\n\n“We are impressed with what Wes Edens and the NFE team have created and their commitment to changing the energy industry,” said Golar LNG Chairman Tor Olav Troim. “They share our vision to provide cheaper and cleaner energy to a growing population. The consolidation of two of the entrepreneurial LNG downstream players gives the company improved access to capital and creates a unique world-leading energy transition company which Golar shareholders will benefit from being a part of going forward.”\n\n“Tor Olav Trøim and his teams have been pioneers in the global shipping and energy industries,” continued Edens. “The addition of this great portfolio of assets enhances our fully integrated approach and we’re excited for them to become part of NFE. This is a great step towards our goal of finishing this year with fifteen to twenty terminals tha...