New Fortress Energy receives authorization to export LNG to non-FTA countries

(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 (OL: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.

Source: Investing.com