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New Fortress Energy Advances Construction of LNG Terminal in Mexico

Friday, 28 February 2020 | 00:00

New Fortress Energy LLC (NASDAQ: NFE) (“New Fortress”) continues to advance construction of a liquefied natural gas (LNG) receiving and regasification terminal in the port of Pichilingue, Baja California Sur, Mexico.

Over the past months, marine work has been underway at the site of the terminal. With all the necessary permits obtained for onshore construction of the power plant, additional equipment, materials, and workers will be deployed to the site to expedite completion of the project.

“The BCS Government is in full readiness to achieve an energy transition that promotes new public and private investments in this sector, under a sustainability scheme that helps to avoid harming the environment,” said Governor Carlos Mendoza Davis.

The facility is being constructed with power generation to provide low-cost electricity and truck loading bays for the supply of LNG to local hotel and industrial customers.

“With the project well underway, we are closer to introducing more affordable and cleaner energy for Baja California Sur,” said New Fortress Chairman and CEO Wes Edens. “We have witnessed how LNG supply can become a catalyst for energy diversification and economic development and look forward to seeing similar results.”

LNG is an alternative source of clean and safe fuel that helps to improve energy efficiency, reduce costs and emissions over other fossil fuel sources. It also provides opportunities for job creation, training of a new, more specialized workforce, economic development and improved environmental management.

“The LNG terminal at Pichilingue port is an important infrastructure project that will undoubtedly bring significant benefits to Baja California Sur,” said José López Soto, director of Port Authority Administration of Baja California Sur.

LNG is natural gas that under a cooling process reaches a liquid state at -161° C and is stored at atmospheric pressure. Cooling natural gas to its liquid state allows its transport in safe conditions throughout the world. LNG is one of the safest fuels to transport and to handle, as well as the cleanest available fossil fuel.
Source: New Fortress Energy LLC

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