Welcome to our dedicated page for New Fortress Energy news (Ticker: NFE), a resource for investors and traders seeking the latest updates and insights on New Fortress Energy stock.
New Fortress Energy Inc. (NFE) is a global leader in providing clean, reliable, and affordable natural gas solutions. Established in 2015, the company has pioneered the development and supply of natural gas through end-to-end logistics and infrastructure solutions tailored for power producers, transportation companies, and industrial users worldwide.
NFE's operations began with the construction of the first LNG liquefaction plant in Florida, located in Miami. This facility features comprehensive rail and truck operations, along with on-dock rail access at Port of Miami and Port Everglades. The plant caters to various industries including aerospace, marine, transportation, and power, and is poised to lead the transition from oil to natural gas over the next decade.
One of NFE's significant accomplishments includes receiving approval to export natural gas to non-FTA countries and successfully exporting the first LNG shipment from the U.S. lower-48 states. This milestone underscores the company's capability and commitment to expanding global access to natural gas.
The company's business model is integrated, covering the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, terminals, and the development or conversion of natural gas-fired generation. NFE has invested in floating, liquefied natural gas vessels to reduce costs and secure a long-term gas supply for its terminals.
NFE operates through two primary segments: Terminals and Infrastructure (T&I) and Ships. These segments exemplify the company's strategic approach to managing the logistics and infrastructure essential for efficient natural gas distribution. By leveraging its extensive network and innovative solutions, NFE continues to foster partnerships and advance projects that enhance energy accessibility and sustainability.
Recent news and updates about NFE highlight its ongoing initiatives and developments in the energy sector. Stay informed on the latest performance, events, and advancements of New Fortress Energy Inc., a company dedicated to transforming the energy landscape through cleaner and more affordable natural gas solutions.
New Fortress Energy reported its Q1 2021 financial results, showing stable revenues of $145.7 million but a net loss of $39.5 million, attributed to higher LNG costs and acquisition expenses. The company successfully acquired Hygo Energy and Golar LNG Partners for a total of $5.1 billion. NFE announced a $0.10 dividend per share, record date June 1, 2021, payment date June 11, 2021. Future projects are progressing on schedule, including terminals in Mexico and Nicaragua, and a joint venture in renewable fuels called Zero Parks to commercialize low-carbon solutions.
New Fortress Energy Inc. (NASDAQ: NFE) has announced a cash distribution of $0.546875 per Series A preferred unit (NASDAQ: GMLPP) for the period from February 15, 2021 to May 14, 2021. This distribution will be payable on May 17, 2021 to all unitholders of record as of May 10, 2021. New Fortress Energy is focused on accelerating the transition to clean energy by funding, building, and operating natural gas infrastructure.
New Fortress Energy (NASDAQ: NFE) will release its Q1 2021 financial results on May 7, 2021, before 8:00 A.M. Eastern Time. The press release and earnings supplement will be available on the company’s Investors section of its website.
Management will host a conference call on the same day at 8:00 A.M. ET, accessible through specific phone numbers for U.S. and international participants. A replay will be available until May 14, 2021. New Fortress Energy aims to accelerate the transition to clean energy through its natural gas infrastructure solutions.
New Fortress Energy (NFE) has successfully completed the acquisition of Golar LNG Partners (GMLP) on April 15, 2021. NFE purchased all outstanding common units of GMLP at $3.55 per unit. Following the acquisition, GMLP's board approved the delisting of its 8.75% Series A Cumulative Redeemable Preferred Units, effective on or about May 13, 2021. The delisting follows NASDAQ's notification that the Preferred Units do not meet listing requirements, and GMLP will also suspend its reporting obligations regarding the Units.
TortoiseEcofin announced on April 15, 2021, that Golar LNG Partners LP (NASDAQ:GMLP) will be removed from the Tortoise MLP Index due to its merger with New Fortress Energy Inc (NASDAQ:NFE). This removal will take effect at market open on April 19, 2021. GMLP's removal is executed without a special rebalancing, as its current weight falls below the threshold that would necessitate such action. The Tortoise MLP Index is focused on energy master limited partnerships (MLPs) and serves as a capitalization-weighted index.
New Fortress Energy (NASDAQ: NFE) announced a 15-year Memorandum of Understanding with Norsk Hydro to supply natural gas to the Alunorte Alumina Refinery in Pará, Brazil. This partnership aims to convert the refinery's calcination process from fuel oil to natural gas, reducing emissions by around 20%. NFE will deliver an agreed minimum quantity of gas from its Barcarena LNG terminal, anticipated to be operational by 2022. The agreement is subject to final documentation and commercial arrangements.
New Fortress Energy has successfully acquired Hygo Energy Transition and Golar LNG Partners for a total enterprise value of $5.1 billion. This includes 31.37 million shares of NFE and $580 million in cash for Hygo, along with the purchase of Golar’s common units at $3.55 each. This strategic move enhances NFE's position as a leading gas-to-power provider, with a portfolio that includes multiple floating storage and regasification units (FSRUs) and a significant power plant in Brazil. The acquisition is expected to drive NFE’s growth in the clean energy market.
New Fortress Energy (NASDAQ: NFE) has signed a Gas Supply Agreement with CFEnergia SA de CV, a subsidiary of Mexico’s Federal Electricity Commission. This agreement will see NFE supply 250,000-500,000 gallons of LNG daily to CFE’s power plants in Baja California Sur, Mexico, starting in May through its terminal in Pichilingue. CEO Wes Edens highlighted that this contract is aimed at supporting CFE’s shift to cleaner energy, generating significant fuel savings and reducing emissions for local residents.
New Fortress Energy announced the pricing of a private offering of $1.5 billion senior secured notes due 2026, bearing an interest of 6.500% per annum. The notes will be secured by collateral similar to existing senior secured notes and guaranteed by wholly-owned subsidiaries. Proceeds will finance the acquisition of Golar LNG Partners and cover corporate expenses. A special mandatory redemption clause requires redemption if the acquisition isn't completed by October 13, 2021. The offering is for qualified institutional buyers and is not registered under the Securities Act.
New Fortress Energy (NASDAQ: NFE) announced a private offering of $1.5 billion senior secured notes due September 2026. These notes will be guaranteed by its domestic and foreign subsidiaries and secured by collateral similar to its existing obligations. The proceeds will fund the acquisition of Golar LNG Partners L.P. and cover related expenses, with any remaining funds allocated for general corporate purposes. The offering is intended for qualified institutional buyers under Rule 144A and Regulation S of the Securities Act.
FAQ
What is the current stock price of New Fortress Energy (NFE)?
What is the market cap of New Fortress Energy (NFE)?
What does New Fortress Energy Inc. do?
Where is NFE's first LNG liquefaction plant located?
What industries does New Fortress Energy serve?
Has NFE received approval to export natural gas?
What are the primary segments of NFE's operations?
How does New Fortress Energy ensure a long-term gas supply?
What is NFE's role in the energy sector?
What makes NFE's Miami plant significant?
What recent achievements has NFE accomplished?
How does NFE contribute to environmental sustainability?
