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Business

Akanksha Bakshi

New Fortress Energy, Mexico's CFE Partner On Natural Gas Supply

CFE NFE Mexico Natural Gas Wes Edens Company Nasdaq Baja California Sur Tamaulipas

New Fortress Energy Inc (NASDAQ:NFE) has entered into an agreement with Comisión Federal de Electricidad (CFE) as part of a growing strategic alliance.
The agreement includes expanding and extending NFE's natural gas supply to multiple CFE power generation facilities in Baja California Sur, selling NFE's 135 MW La Paz power plant to CFE, and creating a new LNG hub off the coast of Altamira, Tamaulipas.
"We are pleased to expand our strategic alliance with CFE, which will enhance clean energy security for Mexico and enable the construction of a new LNG hub off the coast of Altamira," said Wes Edens, Chairman, and CEO of NFE.
Price Action: NFE shares are trading lower by 3.33% at $38.29 on the last check Tuesday.
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