New Fortress Energy enters agreement to sell Miami liquefication, storage facility
New Fortress Energy, a global energy infrastructure company, announced Monday that it has entered a definitive agreement to sell its liquefication and storage facility in Miami to a U.S. middle-market infrastructure fund.
“The Miami Facility is the inaugural asset of NFE and we are proud to have built this best-in-class infrastructure. Today’s sale highlights our commitment and execution of our asset sale program, allowing us to reduce debt and recycle proceeds into high return downstream projects,” said Wes Edens, chairman and CEO of New Fortress Energy.
The Miami Facility is a small-scale liquefaction facility with one liquefaction train capable of producing 8,300 MMBtu of LNG per day. It has three LNG storage tanks with a total capacity of approximately 1,000 cubic meters as well as two separate LNG transfer areas capable of serving both truck and rail.
The facility is authorized to export up to 60,000 tonnes per annum of LNG to Free Trade Agreement (FTA) and Non-FTA countries for a 20-year term that began on Feb. 5, 2016.
New Fortress Energy owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver energy solutions to global markets.
