New Fortress Energy to Sell LNG Liquefaction, Storage Facility in Miami

New Fortress Energy (NFE) signed a definitive agreement with a U.S. middle-market infrastructure fund to sell its small-scale liquefaction and storage facility in Miami, FL, which is expected to close in Q3 2024.

“The Miami Facility is the inaugural asset of NFE and we are proud to have built this infrastructure,” said Wes Edens, Chairman and CEO of New Fortress Energy. “Today’s sale highlights our commitment and execution of our asset sale program, allowing us to reduce debt and recycle proceeds into high return downstream projects.”

The Miami facility has one liquefaction train capable of producing 8,300 MMBtu of LNG per day and three LNG storage tanks with an approximate total capacity of 1,000 m³. It also contains two separate LNG transfer areas for truck and rail service and is authorized to export up to 60,000 tons per year of LNG to Free Trade Agreement (FTA) and non-FTA countries for a 20-year term. The LNG export term began on February 5, 2016.

In March 2024, NFE placed its Terminal Gas Sul (TGS) LNG terminal into operation in Santa Catarina, Brazil, along with Energos’ Winter floating storage regasification unit (FSRU) onsite. TGS is an offshore LNG import terminal with an approximate capacity of 6 MTPA (300 TBtu) and a maximum gas send out of 500 mmscf/day.

In addition to the Energos Winter FSRU, the terminal also includes a 33 km, 20-inch pipeline which connects the facility to the inland Brasileira Gasoduto Bolivia-Brasil (TBG) pipeline. The terminal is connected via pipeline to the Brazilian gas market, including more than 3.5 GW of power that does not have long-term gas supply contracts. TGS is also connected to more than 300 TBtu of industrial and residential gas consumers in southern Brazil.

At the beginning of March, NFE started operation at its 6 MTPA Barcarena LNG terminal in Pará, Brazil, with an Energos Celsius FSRU on-site. NFE held an event on-site to celebrate the LNG terminal’s commissioning with the Pará state government and the Ministry of Mines and Energy from Brazil.

The Barcarena LNG terminal is located at the mouth of the Amazon River and serves as the only natural gas supply source in Pará and the northern regions of Brazil. The facility contains an offshore terminal and FSRU that will supply LNG to several industrial customers, including a 15-year contract with Norsk Hydro’s Alunorte alumina refinery. Barcarena will reduce emissions and pollution in the Amazon region by providing a clean, affordable, and reliable alternative to oil-based fuels.

NFE will begin deliveries of natural gas to the Alunorte refinery under a 15-year gas supply agreement and will supply the alumina facility with approximately 30 TBtu of natural gas per year. These deliveries are expected to reduce the refinery’s CO₂ emissions by an estimated 700,000 tons per annum and supports Norsk Hydro’s commitment to reduce greenhouse gas emissions 30% by 2030.

The Barcarena terminal will also supply natural gas to NFE’s 630 MW power plant, which is under construction adjacent to the LNG site. The plant is expected to achieve COD in Q3 2025 and is roughly 50% complete. NFE plans on leveraging existing Barcarena infrastructure to expand its power complex by 1.6 GW according to the New Power Project PPA, with a COD scheduled for no later than July 2026.