New Fortress Energy gains on LNG supply deal with Puerto Rico government
17/09/2025 10:28
** Shares of U.S. LNG firm New Fortress Energy NFE.O climb 46% to $2.92 premarket ** NFE late on Tuesday said it has signed a long-term agreement to supply liquefied natural gas to Puerto Rico for 7 years ** Puerto Rico Governor Jenniffer Gonzalez in a social media post said on Tuesday that the contract is worth $4 billion ** Company expects supply of 75 trillion British thermal units (TBtu) of natural gas per year through the agreement, with minimum annual take-or-pay volumes of 40 TBtu, increasing to 50 TBtu if certain conditions are met ** NFE expects to supply LNG from its 1.4 million tonnes per annum facility located offshore Altamira, Mexico ** As of last close, NFE shares down 86.8% YTD (Reporting by Sumit Saha in Bengaluru) ((Sumit.Saha@thomsonreuters.com;))