New Fortress Energy rises after $1.06 billion deal to sell Jamaica assets

Excelerate Energy

27/03/2025 11:21

** U.S. LNG company New Fortress Energy's NFE.O shares rise 8.5% to $12.01 premarket

** Company to sell its assets and operations in Jamaica for $1.06 billion to Excelerate Energy EE.N

** Includes sale of its LNG import terminal in Montego Bay, offshore floating storage and regasification terminal in Old Harbour and a 150 megawatt combined heat and power plant in Clarendon

** Proceeds from the deal will be used to reduce NFE’s corporate debt and for general corporate purposes

** Transaction is expected to close in 2Q25

** Up till last close, stock down 26.8% YTD

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com;))