Press release
New Fortress Energy Signs Agreements with Unigel to Provide Natural Gas to Fertilizer Plants in the States of Sergipe and Bahia
NEW YORK--(BUSINESS WIRE)-- New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) announced today that it has executed two Gas Supply Agreements (“GSA”) with
About this update from New Fortress Energy Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nNew Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) announced today that it has executed two Gas Supply Agreements (“GSA”) with subsidiaries of Unigel Participações (“Unigel”) to supply natural gas to the Unigel Agro-BA and Unigel Agro-SE fertilizer plants (the “Fertilizer Plants”) located in the Brazilian states of Bahia and Sergipe, respectively. The agreements also include an option to supply Unigel’s chemicals facility in Candeias, state of Bahia, Brazil.\n\nIn total, NFE expects to supply Unigel with up to 41 Tbtu of natural gas annually (equivalent to approximately 1.4 million gallons of LNG per day) for a 5-year term beginning in Q1 2022.\n\n“We are excited to become the strategic gas supply partner of Unigel, one of the premier industrial companies in Brazil,” said Wes Edens, Chairman and CEO of NFE. “This partnership demonstrates the value our LNG import terminals will provide to customers in Brazil as we bring affordable, reliable energy supply and support industry throughout Brazil.”\n\nAndrew Dete, Managing Director at NFE added, “NFE is proud to partner with Unigel to support domestic fertilizer production in Northeast Brazil. These agreements are great examples of NFE’s mission to partner with leading industrial customers in Brazil to provide reliable energy supply.”\n\nThe supply of gas from NFE’s strategically-located Suape and Sergipe LNG terminals in Brazil’s northeast will connect Unigel’s operations to the global LNG and natural gas markets as well as significantly reduce pipeline transportation charges.\n\n“We believe that this 5-year term agreement with NFE will provide a more reliable, stable operation for our plants in the long run, which is key to improve our competitiveness and solidify our commercial presence in Brazil,” said Roberto Noronha Santos, CEO of Unigel.\n\nUnigel’s Fertilizer Plants are capable of producing over 3,000 tons per day of urea in total.\n\nThe transaction is subject to the receipt of certain regulatory approvals and other customary conditions.\n\nAbout New Fortress Energy\n\nNew Fortress Energy is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable ec...