UK Markets closed

New Fortress Energy Inc. (NFE)

NasdaqGS - NasdaqGS Real-time price. Currency in USD
Add to watchlist
26.72+0.90 (+3.49%)
At close: 4:00PM EDT
Sign in to post a message.
  • W
    Winston
    NFE
    -1.69%
    Tue, September 21, 2021, 9:28 AM·4 min read

    In this article:

    NFE
    -1.69%

    Explore the topics mentioned in this article

    NEW YORK, September 21, 2021--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) ("New Fortress") and The Government of the Democratic Socialist Republic of Sri Lanka ("GOSL") jointly announced today that they have executed a definitive agreement for New Fortress’ investment in West Coast Power Limited ("WCP"), the owner of the 310 MW Yugadanavi Power Plant based in Colombo, along with the rights to develop a new LNG Terminal off the coast of Colombo, the capital city. As part of the transaction, New Fortress will have gas supply rights to the Kerawalapitya Power Complex, where 310 MW of power is operational today and an additional 700 MW scheduled to be built, of which 350 MW is scheduled to be operational by 2023.

    New Fortress will acquire a 40% ownership stake in WCP and plans to build an offshore liquified natural gas (LNG) receiving, storage and regasification terminal located off the coast of Colombo. New Fortress will initially provide the equivalent of an estimated 1.2 million gallons of LNG (~35,000 MMBtu) per day to the GOSL, with the expectation of significant growth as new power plants become operational.

    The 310 MW Yugadanavi Power Plant currently has a long-term power purchase agreement to provide electricity to the national grid that extends through 2035. This power plant consists of General Electric turbines and is configured to run on natural gas in combined cycle.
  • W
    Winston
    NFE is building out the infrastructure to be one of the largest LNG suppliers in the world at a time when the need for LNG is rapidly growing. Its' infrastructure will support liquid hydrogen when its time comes. It is clear when you look where this company's operations will be in 3 years that this company's stock is worth much more then its current stock price. More than that this company will continue to grow at a good clip for at least the next 10 years. The amazing part of Wall Street is that the answers are right there for those who invest with a longer term vision and don't play the game like they are betting in Vegas. Just my 2 cents...
  • W
    Winston
    Tue, September 21, 2021, 4:16 PM·3 min read

    In this article:

    NFE
    -2.79%

    Explore the topics mentioned in this article

    NEW YORK, September 21, 2021--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) ("New Fortress" or the "Company") announced today that it has executed a term loan facility secured by eight Company vessels (the "Shipping Facility"). The Company made an initial borrowing of $430 million and can borrow up to $725 million under the Shipping Facility.

    The Shipping Facility has a three-year term, and loans issued under the facility will bear interest at an annual rate equal to LIBOR plus 3.00%, subject to a 0.0% LIBOR floor. The Shipping Facility is prepayable at par at any time without penalty.

    Net proceeds of the Shipping Facility will be used to fund the development and construction of the Company’s energy infrastructure projects around the world.

    Oh no! more good news! I hope we don't drop below $25 tomorrow...
  • W
    Winston
    NFE and Hydro Finalize Definitive Commercial Terms for Natural Gas Supply to the Alunorte Alumina Refinery in the State of Pará, Brazil
    September 09, 2021 05:00 PM Eastern Daylight Time
    NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) announced today that it has executed definitive commercial terms with a subsidiary of Norsk Hydro ASA (“Hydro”) to supply natural gas to the Alunorte Alumina Refinery in Pará, Brazil for a term of 15 years.

    “Alunorte is among the most energy efficient alumina refineries in the world. The fuel switch to LNG is another step to improve our operations, driving sustainability and industry best practices to lower environmental impact”

    “We are excited to partner with Hydro to transition the Alunorte refinery to a cleaner fuel and to support Hydro’s global sustainability and environmental commitment,” said Wes Edens, Chairman and CEO of New Fortress Energy. “This is a great example of how our LNG terminals can accelerate the energy transition in Brazil.”

    Hydro is converting the calcination process and part of the steam generation at the Alunorte Alumina Refinery from fuel oil to natural gas. This initiative is part of Hydro's climate strategy and its global commitment to reduce its greenhouse gas emissions by 30% by 2030. The fuel switch will reduce the refinery’s annual CO2 emissions by 600,000 tonnes.
  • G
    Gary
    Glng has about 1/2 billion loss with goodwill.Expect them to take it by yearend
  • G
    Gary
    with Covid at all time highs.Best solution is too raise Taxes..U have to love it..
  • G
    Gary
    Tax Loss selling..Down 50% this year
  • W
    Winston
    I believe that NFE stock should sell well above $60 a share within the next 3-4 years and have at least a 6% dividend, based on the current stock price. If any others want to chime in with their expectations, please do.
  • W
    Winston
    With tropical storm Nicholas on the horizon and the aftermath of Hurricane Ida still impacting gasoline prices, natural gas futures are hovering near a seven-year high and supplies are dwindling.
    For all those naysayers who complained when NFE locked up its supply, I suggest a reading of the above.
  • G
    Gary
    @P.Flng up 5% for week Nfe..down 10% for week..Really
  • B
    Brian
    I'm out....
  • m
    martin
    Sri Lanka contract finalized...with some details :

    NEW YORK, September 21, 2021--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) ("New Fortress") and The Government of the Democratic Socialist Republic of Sri Lanka ("GOSL") jointly announced today that they have executed a definitive agreement for New Fortress’ investment in West Coast Power Limited ("WCP"), the owner of the 310 MW Yugadanavi Power Plant based in Colombo, along with the rights to develop a new LNG Terminal off the coast of Colombo, the capital city. As part of the transaction, New Fortress will have gas supply rights to the Kerawalapitya Power Complex, where 310 MW of power is operational today and an additional 700 MW scheduled to be built, of which 350 MW is scheduled to be operational by 2023.

    New Fortress will acquire a 40% ownership stake in WCP and plans to build an offshore liquified natural gas (LNG) receiving, storage and regasification terminal located off the coast of Colombo. New Fortress will initially provide the equivalent of an estimated 1.2 million gallons of LNG (~35,000 MMBtu) per day to the GOSL, with the expectation of significant growth as new power plants become operational.

    The 310 MW Yugadanavi Power Plant currently has a long-term power purchase agreement to provide electricity to the national grid that extends through 2035. This power plant consists of General Electric turbines and is configured to run on natural gas in combined cycle.
  • S
    Steve
    Hi Martin,

    Thank you for the share informations. I'll keep adding whenever I can. So far, I have nearly 1,300 shares
  • G
    Gary
    Will buy and trade Again.50% discount is $26.79.
  • m
    martin
    NFE appears to be moving on the Jack up rig conversion effort-

    Aberdeen-based offshore rig inspection company ADC Energy has said it has won a contract with an unnamed U.S.-based LNG company to help it identify and select offshore drilling rigs suitable for conversion for LNG operations.

    According to ADC Energy, the company has begun conducting audits to identify suitable drilling rigs as part of this contract.

    To date, ADC Energy, until recently known as Aberdeen Drilling Consultants, has conducted the initial assessments of Maersk Gallant and Maersk Guardian jack-up drilling rigs, prior to their departure from their North Sea locations to South America.

    This piece of information provides a clue on the identity of the client.

    Namely, Danish offshore drilling firm Maersk Drilling earlier this year sold the two rigs to New Fortress Energy for $31 million. Maersk Drilling said in May that New Fortress Energy would use the two jack-ups for non-drilling purposes as part of its planned Fast LNG project.

    A number of rigs evaluated

    "As part of the workscope, the company’s specialist engineering teams from the US, UK, and Asia Pacific will evaluate a number of oil and gas drilling rigs to determine energy efficiency and suitability for being repurposed for LNG deployment," ADC said Monday.

    "ADC Energy will utilize its bespoke criteria to evaluate the functional design, physical condition and operability of each asset, before advising on the process to repurpose the rigs in line with industry safety and operating standards including API and OEM functional design specifications," the company added.

    OEDigital has reached out to ADC Energy, seeking more info on the contract value, and further details on what kind of LNG deployment is envisioned for the rigs found suitable for conversion. A spokesperson said the deal was s six-figure one, with further details undisclosed.

    As for New Fortress Energy, assuming the company is indeed the said ADC Energy client, the company is developing a modular floating liquefaction facility to provide a low-cost supply of liquefied natural gas for its growing customer base.

    The company has said that the “Fast LNG” design pairs advancements in modular, midsize liquefaction technology with jack-up rigs or similar floating infrastructure to enable a much lower cost and faster deployment schedule than today’s floating liquefaction vessels.

    According to New Fortress Energy, a permanently moored FSU will serve as an LNG storage facility alongside the floating liquefaction - and presumably jack-up - infrastructure, which can be deployed anywhere where there's enough gas.

    Hydrogen rigs

    Worth noting, jack-up drilling rigs, normally used for drilling for oil and gas in shallow waters, are, apart from this LNG conversion project, being looked at as an option for the production of green hydrogen, too.
  • m
    martin
    NFE signed a 10-Yr FSRU charter to secure HMLP vessel in Jamaica

    ———-

    Höegh LNG Partners LP Announces a New Long-Term FSRU Contract for the Höegh Gallant
    Fri, September 24, 2021, 6:37 AM·3 min read
    In this article:

    Ten-year contract with New Fortress Energy to commence in fourth quarter 2021

    HAMILTON, Bermuda, Sept. 24, 2021 /PRNewswire/ -- Höegh LNG
  • Ø
    Øivind
    Morgan Stanley analyst Devin McDermott maintains New Fortress Energy (NASDAQ:NFE) with a Overweight and lowers the price target from $55 to $49.
  • W
    Winston
    I sold my entire NFE position a bit more than 30 days ago at a loss for tax purposes to offset some of my GLOG short term capital gains. I bought it all back this morning for a couple of bucks less than I sold it for.
    I saved a great deal in income tax. If not for taxes I would never have sold so I believe myself to be quite fortunate. Sometimes it is good to be aware of the tax ramifications of ones actions. One reason I like NFE is that it should be a growth stock for many years to come, therefore you can get a tax free return on your investment for years to come, assuming you hold.
  • W
    Winston
    US-based New Fortress Energy has lodged a planning application for a floating LNG import terminal and gas-fired power plant in northwest Ireland, a company spokesperson said Sept. 6.
    The planning application for the Eur650 million project -- located at the site of the stalled Shannon LNG import -- comes despite the Irish government having imposed a de facto moratorium on the development of LNG import infrastructure.
    The proposed development comprises an FSRU and a 600 MW CCGT that would back up renewable generation and have an integrated 120 MW one-hour battery storage facility for ultra-fast response.
    The FSRU will regasify imported LNG and send the gas to the power plant and to the national gas grid, New Fortress said.
    "The proposed development will provide a major energy infrastructure asset that addresses Ireland's shortfall in stable electricity generation and provide security of gas supply," New Fortress vice president of project development, Sam Abdalla, said.
  • G
    Gary
    If U need tax losses recommend to buy Nfe