Press release
New Fortress Energy to Supply Natural Gas to Norsk Hydro’s Alunorte Alumina Refinery in the State of Pará, Brazil
NEW YORK--(BUSINESS WIRE)-- New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) announced today that it has signed a Memorandum of Understanding
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”) announced today that it has signed a Memorandum of Understanding (“MOU”) with a subsidiary of Norsk Hydro (“Hydro”) to supply natural gas to the Alunorte Alumina Refinery in Pará, Brazil for a term of 15 years.\n\n“We look forward to this long-term partnership and are pleased to assist Hydro with the transition of the Alunorte refinery to utilizing a cleaner and more affordable supply of energy,” said Wes Edens, Chairman and CEO of New Fortress Energy.\n\nHydro is converting the calcination process and part of the steam generation at the Alunorte Alumina Refinery from fuel oil to natural gas, which is expected to reduce emissions by approximately 20%.\n\nAs part of the MOU, NFE will deliver a minimum agreed amount of natural gas to the refinery from the Company’s Barcarena LNG receiving and regasification terminal located in the state of Pará, Brazil.\n\nThe proposed agreement is subject to final documentation and the parties will work together to finalize their commercial arrangements.\n\nThe Barcarena terminal is anticipated to be completed and ready to supply natural gas in 2022.\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 economic growth, enhance environmental stewardship and transform local industries and communities.\n\nCautionary Language Regarding Forward-Looking Statements\n\nThis communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “intends,” “expects,” “subject to,” “plans” or “anticipates” or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ m...