NFE Gets Final Greenlight on $4Bln Puerto Rico Gas Deal


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- New Fortress Energy (NFE) has announced it has 
received final approval for an approximate $4 billion deal to supply Puerto 
Rico with gas over a seven-year term.

   The contract secures the delivery of approximately 75 trillion British 
thermal units of natural gas to support the island's ongoing energy 
transformation initiatives, NFE said in a statement issued late Thursday (12/4).

   Puerto Rico, known for experiencing constant blackouts, is moving away from 
oil-fired power generation, and natural gas is a key transition fuel in that 
transformation.

   The island has a target for 100% renewable energy by 2050, and gas serves as 
a bridge fuel for its power grid to retire old oil plants while awaiting 
completion of renewable infrastructure such as solar farms and battery storage 
facilities.

   Puerto Rico Governor Jenniffer Gonzlez-Colon had previously estimated the 
gas deal to be worth approximately $4 billion.




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