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NEW YORK, February 29, 2024–(BUSINESS WIRE)–New Fortress Energy Inc. (Nasdaq: NFE) (“NFE” or the “Company”) announced today that its 6 MTPA (300 TBtu) Barcarena LNG terminal in Pará, Brazil, is now operational with Energos Celsius’ Floating Regasification Storage Unit (FSRU). NFE co-organized an on-site occasion to celebrate the commissioning of the terminal with the Government of the State of Pará and the Ministry of Mines. and Energy of Brazil, adding Helder Barbalho, Governor of Pará, and Alexandre Silveira, Minister of Mines and Energy of Brazil.
NFE’s Barcarena LNG terminal is strategically located at the mouth of the Amazon River in Pará, Brazil, and is the only source of herbal fuel in the state of Pará and the northern region of Brazil. The facility includes an offshore terminal and an FSRU that will supply LNG to several commercial customers, adding a 15-year contract with Norsk Hydro’s Alunorte refinery, the world’s largest alumina refinery. The terminal will not only contribute to commercial development, but also reduce emissions and pollutants in the ecologically sensitive Amazon region by offering a cleaner environment and affordable, reliable option to petroleum-based fuels.
NFE plans to begin delivering vegetable fuel to Norsk Hydro’s Alunorte refinery under a 15-year fuel source agreement. NFE will supply the alumina production facility with approximately 30 TBtus of vegetable fuel per year, reducing the refinery’s annual CO2 emissions by approximately 700,000 constant tons. and supporting Norsk Hydro’s global commitment to reduce greenhouse fuel emissions by 30% by 2030.
The Barcarena terminal will also supply natural gas to NFE’s 630 MW power plant, which is currently under construction adjacent to the Barcarena terminal. The power plant remains on track to achieve COD in the third quarter of 2025 and is approximately 50% complete. Additionally, the company intends to utilize its existing infrastructure in place in Barcarena to strategically expand its power complex by 1.6 GW under the previously announced New Power Project PPA, with an expected COD no later than July 2026. NFE has applied to transfer the New Power Project PPA to a permitted site adjacent to the Barcarena terminal and expects close the acquisition in the first quarter of 2024, subject to regulatory approval.
“Our Barcarena complex is a perfect example of NFE’s fully embedded LNG-to-power business model, where our LNG import terminal provides a significant competitive advantage. We venerate Brazil, the State of Pará and Norsk Hydro in their decarbonization efforts. while expanding energy sources and economic opportunities in the region,” said Wes Edens, president and CEO of New Fortress Energy.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and drive the global transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG). infrastructure, as well as a built-in fleet of vessels and logistics assets to provide turnkey energy responses to global markets. Together, the company’s assets and operations strengthen global energy security, enable economic growth, improve environmental stewardship, and reshape local industries and communities around the world. .
Caution Regarding Forward-Looking Statements
This 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. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these terms or other comparable words. Forward looking statements include but are not limited to: expectations related to maintenance and repair work of Puerto Rico’s power system and grid; ability to improve grid stability in Puerto Rico; the ability of the project to transition to a cleaner, more affordable and reliable energy system; and satisfaction of the terms and conditions with respect to the transactions.
These forward-looking statements are necessarily estimates based on existing data and involve a number of dangers, uncertainties and other matters, many of which are beyond the control of the Company. Actual effects or events would likely differ materially from the effects anticipated in such forward-looking statements. Specific points that may also cause actual effects to differ from those indicated in the forward-looking statements include, but are not limited to: similar unknown and unexpected hazards at the time of development, structure or commissioning of the facilities, adding compliance with design specifications and engineering. Incompatibility of array systems, delays and schedule changes, maximum prices and expenses and regulatory and legal challenges, among others; receipt of permits, approvals and authorizations from governmental and regulatory agencies in a timely manner or none at all; we will not be able to operationalize our plans for allocations and discharge the expected benefits; non-unusual hazards relevant to successful business integration; the violation or non-compliance by the parties of the commitments and obligations derived from the agreements; non-payment or breach of obligations by the parties; inability to obtain expected benefits from the assignment or our partnerships; adverse regional, domestic or foreign economic situations, adverse capital market situations and adverse political developments; business interruption as a result of the transaction; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any similar corporate or government policies and movements intended to protect the health and safety of Americans or any government policies or actions directed to maintain the functioning of national systems. or global economies and markets. These points are not necessarily all vital points that may also cause actual effects to differ materially from those expressed in NFE’s forward-looking statements. Other known or unforeseeable problems may also have an adverse effect on long-term effects.
Any forward-looking statements speak only as of the date on which they are made, and we assume no legal responsibility to update or revise those forward-looking statements, even if our cases are likely to be replaced in the future. From time to time new points arise and it is unimaginable that the Company is waiting for all those points. In contemplating such forward-looking statements, it is worth bearing in mind the threat points and other caveats included in New Fortress Energy Inc. ‘s annual and quarterly reports. filed with the Securities and Exchange Commission, which can also make a real difference. the contents of any forward-looking matrix
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Contactos
InvestorsChance Pipitoneir@newfortressenergy. com