New Fortress Energy Inc. (NFE) is targeting first natural gas production from the Lakach deepwater field offshore Mexico by the end of 2023, according to CEO Wes Edens.


NFE management held a conference call on Thursday to update investors on a series of commercial agreements reached with Mexico’s state-owned energy giants, Petróleos Mexicanos (Pemex) and Comisión Federal de Electricidad (CFE).

At Lakach, NFE and Pemex plan to jointly complete seven wells that Pemex has already drilled, Edens said. The idea is for most of the gas to be super-chilled and exported via a 1.4 million metric ton/year (mmty) floating liquefied natural gas (FLNG) unit that NFE plans to deploy to the site, along with an offshore gas processing plant.

The liquefaction capacity translates to about...