New Fortress Energy gains on LNG supply deal with Puerto Rico government
17/09/2025 15:04
Updates ** Shares of U.S. LNG firm New Fortress Energy NFE.O climb 33% to $2.66 ** 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 on Tuesday said 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 ** "We are having difficulty seeing how this contract alters the situation materially, particularly for equity holders, as the business incurs more than $200 million per quarter in interest" - CapitalOne Securities ** Including session's moves, NFE shares down 82.4% YTD (Reporting by Sumit Saha in Bengaluru) ((Sumit.Saha@thomsonreuters.com;))