• 2.8 MTPA of new LNG liquefaction capacity (equates to >25% of U.S.’ targeted increase in LNG volumes to the EU in 2022)
• 1Q23 in-service target, subject to receipt of all permitting and regulatory approvals
New Fortress Energy Inc. has concurrently filed applications with the U.S. Maritime Administration, the U.S. Coast Guard and U.S. Department of Energy to request all necessary permits and regulatory approvals to site, construct and operate a new offshore LNG liquefaction terminal off the coast of Louisiana (“the Project”) with a capacity of exporting approximately 145 billion cubic feet of natural gas per year, equivalent to approximately 2.8 million tons per annum (MTPA) of LNG.
“This announcement demonstrates the flexibility, efficiency and significance of our innovative Fast LNG solution to bring more affordable, reliable and cleaner fuels to customers around the world,” said Wes Edens, Chairman and CEO of NFE.
“This is a big step in the growth of our Fast LNG portfolio, which will include both tolling liquefaction for high credit worthy partners like ENI as well as market volumes from our merchant assets like these. With rapid deployment, this project can play a significant role in supporting our nation’s commitment to our European allies and their energy security as well as support our efforts to reduce emissions and energy poverty around the world.”
The Project will be located in federal waters approximately 16 miles off the southeast coast of Grand Isle, Louisiana, and will access abundant U.S. gas supply by leveraging existing infrastructure. Procurement of all long-lead materials is complete and modular assembly of equipment is underway. Subject to the receipt of all required permits and approvals, NFE targets beginning operations in the first quarter of 2023.
NFE’s Fast LNG liquefaction design pairs the latest advancements in modular, midsize liquefaction technology with jack up rigs or similar offshore infrastructure to enable a much lower cost and faster deployment schedule than today’s floating liquefaction vessels and onshore liquefaction terminals.
With the recent announcement by the United States and European Commission to ensure additional LNG volumes for the EU, LNG production off the coast of Louisiana can support the EU’s goal to end its dependence on Russian fossil fuels as well as NFE’s growing business around the world of reducing emissions and pollution by providing a cleaner, affordable and reliable alternative to oil-based fuels.