New Fortress Energy Final Investment Decision on “Fast LNG” Solution

New Fortress Energy announced today it has made a final investment decision on a 1.4 million tonnes per annum capacity modular liquefaction facility.  A permanently moored FSU will serve as an LNG storage facility alongside the floating liquefaction infrastructure that can be deployed anywhere there is stranded natural gas.  The company is calling the plan “Fast LNG” as the design pairs advancements in modular liquefaction technology with jack up rigs or similar floating infrastructure to enable a lower cost and fast deployment schedule.

“Our innovative Fast LNG liquefiers should allow us to produce LNG between an expected $3-4 MMBtu for our growing portfolio of terminals around the world,” said NFE CEO and Chairman Wes Edens. “This technology can be installed quickly and cheaply to access stranded, low-cost natural gas at a fixed price to meet the global demand for more affordable, reliable and cleaner energy. Alongside our terrific partners, we look forward to deploying one of the world’s lowest-cost LNG production facilities by 2022.”

New Fortress Energy has issued a limited notice to proceed to Fluor, Chart Industries and Baker Hughes for the construction. Chart Industries announced today it received a $47 million LNG liquefaction order from New Fortress Energy for the project. “We are excited to partner with New Fortress Energy on this unique, first-of-a-kind offshore liquefaction system,” stated Jill Evanko, Chart’s President and CEO.