New Fortress Energy receives authorization to export LNG to non-FTA countries
12:08 pm Tuesday, September 03rd, 2024
(Reuters) -New Fortress Energy said on Tuesday it has received authorization from the U.S. Department of Energy to export liquefied natural gas from its offshore Altamira-based plant in Mexico to non-free trade agreement countries.
According to the terms of authorization, the company can export up to nearly 1.4 million tonnes per annum of LNG to non-FTA countries from its Fast LNG 1 project for a term of five years.
The FLNG project had its first output in July.
In the same month, a federal judge had halted the Democrat administration from pausing approval of pending and future applications to export LNG from new projects to non-FTA countries.
New Fortress is counting on incremental growth in LNG demand in Latin America, including countries such as Brazil and Jamaica, it had said in its second-quarter earnings call.
(Reporting by Seher Dareen in Bengaluru; Editing by Shilpi Majumdar)
