New Fortress Energy Achieves Milestone with First LNG Shipment from Offshore Mexico Facility
In a significant development for the oil and gas industry, New Fortress Energy Inc. (NFE) has successfully reported the first liquefied natural gas (LNG) shipment from its “Fast LNG” asset located offshore Altamira, Mexico. This achievement marks a major milestone in the company’s ambitious project designed to speed up global LNG supply and lower costs.
#### Operational Progress
NFE has made tremendous progress towards the start-up of operations at its offshore facility. The company has confirmed that all the necessary work to begin operations is complete, and the full remainder of pre-commissioning activities have also been finished. This concerted effort has positioned the facility for the production of LNG in the coming days, with the first full cargo shipment anticipated to take place in July 2024.
#### Facility Overview
The Altamira facility, touted as a Fast LNG unit, is designed to draw feed gas from CFE’s existing pipeline transportation capacity via TC Energy’s Sur de Texas-Tuxpan pipeline. This streamlined approach aims to enhance efficiency and reduce costs compared to traditional onshore LNG export capacity developments. The facility is set to operate at a capacity of 1.4 million metric tons per year once fully operational.
#### First Shipment Details
The first full LNG cargo from the Altamira facility was successfully offloaded and loaded onto the LNG tanker _Energos Princess_. The vessel has now set sail for Europe, ready to distribute the much-needed LNG to global markets. This initial shipment underscores NFE’s commitment to meeting growing global demands for LNG while setting a new standard in offshore LNG production.
#### Market Impact
NFE’s Fast LNG project represents a strategic move to bolster global energy supplies. The initiative is also poised to opens new market opportunities, particularly in regions with free-trade agreements, such as Nicaragua where NFE is developing an LNG-to-power project. Furthermore, the U.S. Customs and Border Protection’s recent ruling allowing NFE to sell and deliver LNG to U.S. locations like Puerto Rico without violating the century-old Jones Act adds a significant layer of flexibility to NFE’s export strategy.
#### Future Prospects
With this milestone achieved, NFE is poised to continue its growth trajectory in the oil and gas sector. The company’s innovative approach to offshore LNG production has not only expedited timelines but also set a precedent for efficiency in large-scale energy projects. As the industry moves