New Fortress Energy LLC (NFE) has canceled liquefied natural gas (LNG) cargoes it contracted to receive for the remainder of the year in exchange for a payment of $105 million to supplier Centrica LNG Co. Ltd. The move comes as LNG prices have fallen precipitously, or by 85% over the last year and a half,…
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New Fortress Energy Working Through LNG Surplus, But Eyeing Cheaper Supplies for Growth
New York City-based New Fortress Energy LLC (NFE) has more liquefied natural gas (LNG) supply than it needs for customers in the Carribean as the Covid-19 pandemic has cut into economic activity and use of the fuel for power generation across the region.
May 8, 2020
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