Development push for Brazilian LNG terminal

The company has entered into definitive agreements to acquire Hygo Energy Transition Ltd. (Hygo), a 50-50 joint venture between Golar LNG Limited (GLNG) and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (Stonepeak), and Golar LNG Partners (GMLP). In March 2020, Golar LNG signed a Protocol of Intentions with the State Government of Pernambuco to develop an LNG import terminal in the state-managed Suape Port. Now, Fortress Energy intends to develop an LNG terminal and power plant at the port.

Wes Edens, chairman and CEO of NFE, said: “The Suape Port provides an ideal location for NFE to bring clean and affordable energy to a rapidly growing region of Brazil.”

2022 goal

The terminal and power plant in the Suape Port are anticipated to begin commercial operations by the end of 2022.

With the acquisition of Hygo, NFE will acquire an operating floating storage and regasification unit (FSRU) terminal and a 50% interest in a 1500MW power plant in Sergipe, Brazil as well as two other FSRU terminals with 1200MW of power in advanced stages in Brazil. Hygo’s fleet consists of a newbuild FSRU and two operating LNG carriers.

NFE will also acquire a leading owner of FSRUs and LNG carriers as well as a pioneer in floating liquefaction technologies with the GMLP transaction. The addition of GMLP’s fleet of six FSRUs, four LNG carriers and a 50% interest in Trains 1 and 2 of the Hilli, a floating liquefaction vessel, is expected to support both NFE’s existing facilities and international project pipeline.