Seven-year gas supply deal is a go as Puerto Rico backs it up

U.S. energy infrastructure player New Fortress Energy (NFE) has received the go-ahead for its multi-year gas supply arrangement with the government of Puerto Rico, which will allow it to provide liquefied natural gas (LNG) to the Caribbean nation.

New Fortress Energy’s gas supply agreement (GSA), for which contract terms were agreed with the Third-Party Procurement Office (3PPO) and the Puerto Rico Public-Private Partnerships Authority (P3A), was under review for approval by the Financial Oversight and Management Board of Puerto Rico (FOMB).

With this out of the way, the U.S. player has now been given the final approval for this seven-year deal by the FOMB, which secures the delivery of approximately 75 trillion British thermal units (Btu) of natural gas per year to support the island’s ongoing energy transformation initiatives.

Wes Edens, Chairman and CEO of New Fortress Energy, commented: “This long-term partnership between Puerto Rico and NFE will greatly benefit the island. We greatly appreciate Governor González-Colón’s leadership