NFE Gets Final Greenlight on $4Bln Puerto Rico Gas Deal

SECAUCUS, NJ (DTN) – New Fortress Energy (NFE) has announced it has received final approval for an approximate $4 billion deal to supply Puerto Rico with gas over a seven-year term.

The contract secures the delivery of approximately 75 trillion British thermal units of natural gas to support the island’s ongoing energy transformation initiatives, NFE said in a statement issued late Thursday (12/4).

Puerto Rico, known for experiencing constant blackouts, is moving away from oil-fired power generation, and natural gas is a key transition fuel in that transformation.

The island has a target for 100% renewable energy by 2050, and gas serves as a bridge fuel for its power grid to retire old oil plants while awaiting completion of renewable infrastructure such as solar farms and battery storage facilities.

Puerto Rico Governor Jenniffer González-Colon had previously estimated the gas deal to be worth approximately $4 billion.