New Fortress Energy Seeks Partners to Boost Liquidity, Financial Flexibility
11/5/2024
(Reuters) — New Fortress Energy said on Tuesday it had begun work to identify strategic partners for one or more of its primary businesses to enhance its liquidity and financial flexibility.
NFE said on its second-quarter earnings call it was looking for partners for its projects, including those in Brazil, Puerto Rico, Jamaica, Mexico, Nicaragua and Klondike.
It said it is counting on incremental LNG demand growth in Latin American countries such as Brazil and Jamaica.
NFE shares were up 1% in mid-morning trading at $8.43, from an opening price of $8.30. In the last three months NFE's share price has fallen by almost 50%, from $17.04 on Aug. 7.
NFE is set to report third-quarter results on Nov. 7.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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