New Fortress Energy Inc. (NASDAQ: NFE) announced that it has received an export permit for its Altamira Fast LNG facility from Mexico’s Ministry of Energy (Secretaría de Energía (SENER)).
Under the permit granted by SENER, NFE is now authorized to export up to 7.8 million metric tons through April, 2028, providing ample capacity to support the operations of the 1.4 million tons per annum (MTPA) Fast LNG facility through the permitted period. Additionally, as previously announced, NFE has received authorization from the U.S. Department of Energy to export US-sourced LNG to Mexico and other FTA countries.
“This permit is the final piece to the puzzle for launching our first Fast LNG in Altamira,” said Wes Edens, Chairman and CEO of New Fortress Energy. “Obtaining this authorization not only paves the way for operations to commence at our new LNG hub in the third quarter of this year, but it also advances our efforts to expand access to cleaner, cheaper and more reliable energy to customers around the world.”
Construction for the first 1.4 MTPA Fast LNG unit is over ninety percent complete and deployment to Altamira is expected to begin this month. With operations slated to begin in the third quarter of 2023, NFE is on track to establish its new LNG hub, furthering its efforts to provide affordable and reliable energy solutions to customers worldwide.
