NFE Announces Agreement with CFE to Expand Supply of Natural Gas to Baja, Build Offshore LNG Hub Near Altamira
The agreement involves (i) expanding and extending NFE’s supply of natural gas to multiple CFE power generation facilities in
“We are pleased to expand our strategic alliance with CFE, which will enhance clean energy security for
Pursuant to the agreement announced today, CFE and NFE will extend the term of NFE’s gas supply agreement to CFE’s power generation facilities in the region and increase the volume of delivered natural gas under mutually agreeable terms. Additionally, NFE has agreed to sell its own 135 MW power plant in
NFE and CFE plan to collaborate on the creation of a new LNG hub off the coast of
The transactions described in this press release are subject to customary terms and conditions and finalization of related agreements.
Conference Call Details
Management will host a conference call today,
A simultaneous webcast of the conference call will be available on a listen-only basis at https://edge.media-server.com/mmc/p/vh8i9zsn and will be available for replay within the Investors section of NFE’s company website www.newfortressenergy.com.
Please allow time prior to the call to visit the relevant website, follow registration procedures and download any necessary software required to listen to the internet broadcast.
Cautionary Language Regarding Forward-Looking Statements
This communication contains forward-looking statements. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. Forward looking statements include: terms of the definitive agreements for the transactions and projects; the ability of the strategic alliance to enhance clean energy security for
These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are necessarily estimates based upon current information and are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the risk that the proposed transactions may not be completed in a timely manner or at all; risks related to the approval and execution of definitive documentation; risks related to the development, construction, completion or commissioning schedule for the facilities; the receipt of permits, approvals and authorizations from governmental and regulatory agencies on a timely basis or at all; we will be unable to operationalize our plans for the projects; unknown and unforeseen risks associated with the development of new technologies such as the “FLNG” technology, including failure to meet design and engineering specifications, incompatibility of systems, delays and schedule changes, high costs and expenses, regulatory and legal challenges, instability or clarity of application of laws, and rules and regulations to the technology, among others; risks related to liquefaction operations and production of natural gas and LNG; breach or failure by the parties to comply with the covenants and obligations under the related agreements; risks related to the implementation of our mission and business strategy; common risks related to the sale and purchase of businesses or assets, including the risk of valuation and successful implementation, and the risks that we may not be able to realize the benefits of any such transactions, among others; and that we will not be able to provide natural gas to customers as we currently expect. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our annual report, quarterly and other reports filed with the