New Fortress Energy says it agreed on contract terms for long-term supply of LNG to Puerto Rico, after the governor’s office announced the pact earlier Tuesday. New Fortress shares climbed 12% in post-market trading, after gaining 45% during regular trading hours.
- Establishes security of supply in San Juan for the next seven years for power plants currently running on LNG
- Provides for incremental LNG volumes to be delivered, allowing for the conversion of additional gas-ready plants currently burning diesel
- NOTE:
New Fortress Energy Bounces on Revived Puerto Rico LNG Deal
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