US power infrastructure firm New Fortress Vitality mentioned Tuesday it has closed a $700 million mortgage for the second liquefied pure fuel manufacturing unit at its Quick LNG undertaking in Altamira, Mexico.
The corporate mentioned the second liquefaction plant shall be developed in collaboration with the Mexican utility Comision Federal de Electricidad and can use an current onshore terminal.
The businesses plan to speculate $1.3 billion within the Altamira hub, which can produce as much as 1.4 million tons of LNG per yr for export from US and Mexican fuel as soon as absolutely operational.
The FLNG undertaking’s first floating plant was introduced into manufacturing for the primary time earlier this month. The corporate now expects to ship the primary cargo in August, which shall be Mexico’s first LNG export, and start full manufacturing thereafter, the corporate mentioned in an announcement .
The second facility will use the identical proprietary modular expertise as the primary and is anticipated to be accomplished within the first half of 2026, NFE mentioned.
“Our FLNG plant is making fast progress as we’ve now produced LNG at our first facility and absolutely funded our second facility,” mentioned NFE Chairman and CEO Wes Edens within the press launch. (Reporting by Marianna Parraga; Modifying by Cynthia Osterman)
2024-07-24 00:07:32
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