New Fortress Energy is selling a small-scale liquefaction and storage facility in Miami, Florida. (Source: Shutterstock.com)
New Fortress Energy Inc. agreed to sell a small-scale liquefaction and storage facility in Miami, Florida.
The transaction, expected to close in the third quarter, was signed with an unnamed U.S. middle-market infrastructure fund, New Fortress Energy (NFE) announced July 1.
The Miami facility includes a single liquefaction train capable of producing 8,300 MMBtu of LNG per day.
The transaction includes three LNG storage tanks with a total capacity of around 1,000 cubic meters. The deal also includes two LNG transfer areas serving truck and rail transport.
NFE’s Miami facility is authorized to export up to 60,000 tonnes per annum of LNG under a 20-year term beginning on February 5, 2016.
“The Miami facility is the inaugural asset of NFE and we are proud to have built this best-in-class infrastructure,” said NFE Chairman and CEO Wes Edens. “Today’s sale highlights our commitment and execution of our asset sale program, allowing us to reduce debt and recycle proceeds into high return downstream projects.”
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