NFE Announces LNG Sale and Purchase Agreements with Venture Global LNG
New Fortress Energy (NASDAQ: NFE) has entered into two 20-year Sale and Purchase Agreements with Venture Global LNG to supply 2 million tonnes per annum (MTPA) of LNG. The first agreement covers 1 MTPA from the Plaquemines LNG facility in Louisiana, while the second involves another 1 MTPA from the CP2 LNG facility. These agreements aim to enhance NFE's natural gas supply portfolio to meet increasing global demand. The partnerships align with both companies' goals of advancing clean energy and ensuring energy market stability.
- Secured long-term agreements for 2 MTPA of LNG, enhancing supply stability.
- Expansion of NFE's natural gas supply portfolio to meet growing global demand.
- Partnership aligns with clean energy goals, potentially boosting market position.
- Dependence on successful construction and operation of the CP2 LNG facility.
- Risks related to regulatory approvals and potential delays in project development.
Under the first agreement, NFE will purchase 1 MTPA of LNG from Venture Global’s Plaquemines LNG export facility in
“We are pleased to partner with Venture Global as we advance our mission of providing customers around the world with access to low-carbon natural gas and affordable electricity,” said
In addition to 1 MTPA from Plaquemines LNG, NFE agreed to purchase an additional 1 MTPA of LNG from Venture Global’s CP2 LNG facility, located in
“Venture Global is proud to enter into a long-term LNG partnership with
The effectiveness of each agreement is subject to customary terms and conditions.
About
About Venture Global LNG
Venture Global is a long-term, low-cost provider of
Cautionary Language 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: the supply and delivery and receipt of LNG in required volumes, including the ability to supply and purchase and receive additional volumes of LNG; the development, construction and operation of the required facilities; the receipt of authorizations and permits for the construction, development and operation of the facilities; the duration of the LNG supply under the SPA for the specified term and without interruption; NFE’s ability to advance its mission and of using these volumes to support its expansion and diversification plans; the anticipated benefits of the partnership and the facilities, including the CP2 LNG facility; the anticipated benefits from the Venture Global and NFE partnership; and the development and implementation of Venture Global’s Carbon Capture and Sequestration (CCS) projects at its LNG facilities. These forward-looking statements are necessarily estimates based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company’s control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: the ability to deliver, purchase or receive physical delivery of LNG in sufficient quantities to satisfy delivery obligations under the SPA and to satisfy NFE’s obligations to its customers; failure of anticipated energy consumption growth to materialize; risks related to the development, construction or commissioning schedule for the facilities; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; the funding of the project may not be possible on the terms we expect; the risk that our projects will not provide our customers with access to low-carbon natural gas and affordable electricity around the world; the risk that our customer base and projects will not grow or be successful in line with our expectations or plans; and risks related to the implementation of our business strategy; failure to develop and maintain strategic relationships and partnerships. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.
Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise these forward-looking statements, even though our situation may change in the future. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in New Fortress Energy Inc.’s annual and quarterly reports filed with the
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IR & Media:
Managing Director & Head of Investor Relations
IR@newfortressenergy.com
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FAQ
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