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US-based LNG player New Fortress Energy has closed a $700m loan which will fully fund the construction of its second Fast LNG unit (FLNG 2).
The FLNG 2 unit will be developed in partnership with Mexico’s state-owned utility Comisión Federal de Electricidad utilising its terminal infrastructure in Altamira.
Fast LNG design is the first of its kind, pairing the latest advancements in modular liquefaction technology with jackup rigs or similar offshore infrastructure to enable a faster deployment schedule than traditional liquefaction facilities.
The new liquefaction unit will incorporate the same proprietary modular technology as the previous FLNG 1 and is expected to complete construction in the first half of 2026.
The loan comes only days after New Fortress produced the first LNG from the FLNG 1 unit. Now operational, FLNG 1 will deliver its first cargo in August and enter full production after that. It has a production capacity of 1.4 mtpa, or approximately 70 TBtu.
“Our FLNG complex is advancing at a rapid pace as we have now produced LNG at our first unit, and fully financed our second,” said Wes Edens, chairman and CEO of New Fortress Energy. |
