New Fortress Energy (NFE) has agreed to sell its 100,000 gallon-per-day liquefaction and storage facility in Miami, Florida to an undisclosed American middle-market infrastructure fund.
The energy infrastructure company also did not reveal the financial terms of the deal.
The Miami facility produces 8,300 million British thermal units (MMBtu) of liquefied natural gas (LNG) daily. It includes three LNG storage tanks along with two separate transfer areas for truck and rail services.
It is authorised to export up to 60,000 tonnes of LNG annually to both Free Trade Agreement (FTA) and non-FTA countries under a 20-year term which began on 5 February 2016.
Completed in approximately one year, the Miami liquefier was commissioned in 2015. It is said to be strategically located to supply LNG to transportation, commercial, and industrial users in South Florida and the Caribbean.
New Fortress Energy chairman and CEO Wes Edens said: “The Miami Facility is the inaugural asset of NFE and we are proud to have built this best-in-class infrastructure. Today’s sale highlights our commitment and execution of our asset sale programme, allowing us to reduce debt and recycle proceeds into high return downstream projects.”
Subject to customary terms and conditions, the transaction is anticipated to be completed in Q3 2024.
Listed on Nasdaq, New Fortress Energy owns and operates natural gas and LNG infrastructure and an integrated fleet of ships and logistics assets for providing turnkey energy solutions to global markets.
Earlier this year, the company started operations at the Barcarena LNG terminal in Pará, Brazil. Built at the mouth of the Amazon River, the terminal is equipped with the Energos Celsius floating storage regasification unit (FSRU) and has a capacity of six million tonnes per annum (MTPA).
Apart from the Barcarena terminal, New Fortress Energy commissioned the Terminal Gas Sul LNG terminal in March 2024. Terminal Gas Sul is located in Santa Catarina, Brazil and has a capacity of approximately 6MTPA.
