Press release
New Fortress Energy Announces Fourth Quarter and Full Year 2020 Results; Final Investment Decision on “Fast LNG” Solution; Dividend of $0.10 per Class A common share
NEW YORK--(BUSINESS WIRE)-- New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) today reported its financial results for the fourth quarter and
About this update from New Fortress Energy Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nNew Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) today reported its financial results for the fourth quarter and full year ending December 31, 2020. NFE also announced today that its Board of Directors has declared a first quarter 2021 common stock dividend of $0.10 per Class A common share.\n\nBusiness Highlights\n\n\nAnnounced 3 separate transactions for $5.1bn enterprise value\n\n\nAcquiring Hygo Energy Transition Ltd., which includes Brazil’s largest thermal power plant and 3 Operational(1) or In Development(2) terminals. These terminals are expected to be Operational within 12 months.\n\n\nAcquiring Golar LNG Partners LP, which includes stable, contracted cash flows from 13 vessels. Once released from current contracts, these vessels will serve as NFE’s logistics backbone for terminal operations.\n\n\nDeveloping Suape Terminal – NFE acquired 288 MW of PPAs and is developing a terminal at the port of Suape that has material growth prospects and access to the TAG pipeline market.\n\n\nTransactions would bring NFE’s total Operational or In Development terminals from five to nine.\n\n\n\n\nOur projects in Mexico and Nicaragua are expected to be Operational in Q2 2021\n\n\nWe were awarded a supply contract by CFE to supply ~250k gallons per day (“GPD”) of LNG replacing their high cost diesel; first gas is expected in Q2 2021.\n\n\nWe are finalizing a framework agreement for a terminal in Southeast Asia that is expected to begin operations in 2H 2021.\n\n\n\n\nDeveloping long-term fixed price LNG supply\n\n\nAcquiring 50% of the common units of Golar Hilli LLC, the disponent owner of the 2.4 MTPA floating liquefier, Hilli, through the GMLP acquisition.\n\n\nAnnouncing FID(3) on floating liquefaction solution (“Fast LNG”) that is expected to be Operational by end of 2022.\n\n\n\n\nSignificant volume growth – over 5.1 million GPD Committed(4) with over 15 million GPD of In Discussion Volumes(5)\n\n\nOur Board of Directors approved a dividend of $0.10 per share, with a record date of March 26, 2021 and a payment date of March 31, 2021\n\n\nFast LNG\n\nNFE announced that it has made a final investment decision (“FID”) on an innovative “Fast LNG” 1.4 million tonnes per annum capacity modular liquefaction facility to provide a low-cost supply of liquefied natural gas for its growing customer...