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Puerto Rico secures 7-year LNG deal with New Fortress Energy to lower costs and pollution, pending board approval.
Puerto Rico has agreed to a long-term liquefied natural gas (LNG) supply deal with New Fortress Energy, pending approval by the Financial Oversight and Management Board.
The 7-year contract, which could deliver up to 75 TBtu annually, aims to replace more expensive and polluting fuels with cleaner natural gas for the island’s power system.
Pricing is set at 115% of Henry Hub plus $6.50 to $7.95 per million Btu, excluding fuel for certain San Juan power units.
LNG will be shipped from a floating facility in Altamira, Mexico.
The agreement supports Puerto Rico’s energy transition and is expected to provide more reliable and affordable power.
Puerto Rico asegura un acuerdo de GNL de 7 años con New Fortress Energy para reducir costos y contaminación, a la espera de la aprobación de la junta directiva.