New Fortress Energy, a New York City-based company, has secured an agreement to continue supplying natural gas to Puerto Rico’s power system. This extended deal ensures the ongoing delivery of crucial fuel for the island’s electricity generation. The arrangement will last for an additional seven years.
Extended Supply Agreement
The new agreement formalizes New Fortress Energy’s continued role in Puerto Rico’s energy infrastructure. It specifically targets the power system, providing a stable fuel source for electricity production. This seven-year extension builds upon existing operations, reinforcing the long-term partnership.
Regulatory Approval Process
Local authorities in Puerto Rico granted the necessary approval for this extension. Their decision allows New Fortress Energy to maintain its supply operations without interruption. This regulatory step was crucial for finalizing the long-term commitment.
Implications for Puerto Rico’s Energy Grid
The continued natural gas supply supports the stability and reliability of Puerto Rico’s power system. Natural gas serves as a key component in the island’s energy mix, facilitating consistent electricity generation. Ensuring a consistent fuel source helps meet the electricity demands of residents and businesses. This long-term commitment provides energy security for the coming years.
New Fortress Energy’s Role
New Fortress Energy, headquartered in New York City, specializes in integrated gas-to-power solutions. The company develops and operates liquefied natural gas (LNG) import and regasification terminals. It also owns and operates power generation facilities. This expertise positions them as a significant player in global energy markets.
Leave a Comment