New Fortress Energy to Sell Miami Liquefaction and Storage Facility

NEW YORK–(BUSINESS WIRE)–New Fortress Energy Inc. (Nasdaq: NFE) announced that it has entered into a definitive agreement to sell its liquefaction and storage facility in Miami, Florida to a U.S. middle-market infrastructure fund. The transaction is expected to close in the third quarter of 2024 subject to customary terms and conditions.

The Miami Facility is a small-scale liquefaction facility with one liquefaction train capable of producing 8,300 MMBtu of LNG per day. The facility 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 February 5, 2016.

“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.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the Company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.