NFE Finalizes Agreements with CFE in Mexico, Including Plans for Offshore FLNG Hub Near Altamira
The final agreements, which were originally announced on
“We are pleased to complete these agreements and expand our strategic alliance with CFE, which we expect to result in the delivery of our first FLNG unit by mid-2023 and enable the construction of a new LNG hub off the coast of Altamira,” said
As part of the agreements, CFE and NFE will extend the term and increase the volume of NFE’s gas supply agreement to CFE’s power generation facilities in the region. Additionally, NFE will sell its own 135 MW Central Turbogás Amaunet power plant in
The addition of this power plant to CFE’s generation fleet is expected to enhance system reliability, reduce power costs, and complement steps CFE is taking to expand the use of renewable energy resources and lower emissions in the region by nearly half a million tons of CO2 per year.
NFE and CFE are collaborating on the creation of a new FLNG hub off the coast of
Pursuant to the now finalized agreements, NFE will deploy multiple FLNG units of 1.4 MTPA each that utilize CFE’s existing firm pipeline transportation capacity on TC Energy’s Sur de Texas-Tuxpan Pipeline to deliver feedgas volumes to NFE.
NFE’s first FLNG unit, which is under construction at the
As part of the agreements, CFE would share in the production and marketing of a portion of the LNG volumes from the new
The transactions described in this press release are subject to customary terms and conditions and execution of the related agreements.
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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: execution of definitive agreements for, and the consummation, of each of the three transactions described in this press release; achieving mechanical completion of NFE’s first FLNG unit in
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