New Fortress Energy Receives LNG Export Authorization

(Reuters) – New Fortress Energy announced on Tuesday that it has received authorization from the U.S. Department of Energy to export liquefied natural gas (LNG) from its offshore Altamira-based plant in Mexico to non-free trade agreement (non-FTA) countries.

According to the terms of authorization, the company can export up to nearly 1.4 million tonnes per annum of LNG to non-FTA countries from its Fast LNG 1 project for a term of five years.

The Fast LNG (FLNG) project had its first output in July.

In the same month, a federal judge halted the Democrat administration from pausing approval of pending and future applications to export LNG from new projects to non-FTA countries.

New Fortress is counting on incremental growth in LNG demand in Latin America, including countries such as Brazil and Jamaica, as stated in its second-quarter earnings call.