New Fortress Energy Inc. said Wednesday it is acquiring Golar LNG Partners LP (GMLP) and Hygo Energy Transition Ltd. in a deal valued at $5 billion that expands operations in Latin America and provides liquefied natural gas (LNG) shipping assets. 

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Hygo is a 50-50 joint venture between Golar LNG Ltd. and a fund managed by Stonepeak Infrastructure Partners with gas-to-power and downstream LNG distribution operations. GMLP owns and leases LNG carriers and floating regasification and storage units (FSRU). 

The deal would strengthen NFE’s core business of introducing LNG in markets that lack access for power generation and other needs. The acquisition also expands the company’s LNG import terminals to nine from five that are operational or in development, particularly in Brazil,...