Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

New Fortress pulls trigger on floating LNG plan

Two men in overalls on a gangway, one points
New Fortress Energy

New Fortress Energy has taken a final investment decision (FID) on its Fast LNG plan.

This is a modular floating LNG (FLNG) plan. The US-based company said the 1.4 million tonne per year facility would be moored alongside a floating storage unit (FSU).

This combination can be deployed wherever there is abundant and stranded natural gas, it said.

New Fortress has given limited notice to proceed to Fluor, Chart Industries and Baker Hughes for the first Fast LNG project. It expects this to be operational within 20 months, or by the end of 2022.

“Our innovative Fast LNG liquefiers should allow us to produce LNG between an expected $3-4 [mmBtu] for our growing portfolio of terminals around the world,” said New Fortress CEO and chairman Wes Edens.

“This technology can be installed quickly and cheaply to access stranded, low-cost natural gas at a fixed price to meet the global demand for more affordable, reliable and cleaner energy. Alongside our terrific partners, we look forward to deploying one of the world’s lowest-cost LNG production facilities by 2022.”

First of a kind

Chart reported a $47 million deal with New Fortress, in line with the Fast LNG plan. Chat will provide its ISPMR process technology, heat exchangers, cold boxes and heavy hydrocarbon removal system.

“We are excited to partner with New Fortress Energy on this unique, first-of-a-kind offshore liquefaction system,” said Chart’s president and CEO Jill Evanko. “[New Fortress] continues to be an industry leader with a strategic approach to the clean energy transition and the entire value chain.”

In the explanatory notes, New Fortress explained FID was an internal commitment to provide resources, including capital.

“Our management has not made an FID decision on certain projects as of the date of this press release”, it said. The company warned there were no assurances it would take such a decision.

New Fortress has a number of regasification terminal projects and is in the process of broadening its scope. The company struck a major deal in January buying into gas-to-power plans in Brazil. It also bought a 50% stake in the Hilli Episeyo FLNG project, offshore Cameroon.

Recommended for you

More from Energy Voice

Latest Posts