Earnings release
Page 1
New Fortress Energy Announces Second Quarter 2021 Results and Reaffirms Dividend of $ 0.10 per Class A Common Share August 4 , 2021 at 11:57 PM EDT NEW YORK -- ( BUSINESS WIRE ) -- Aug . 4 , 2021-- New Fortress Energy Inc. ( NASDAQ : NFE ) ( “ NFE ” or the “ Company ” ) today reported its financial results for the second quarter ending June 30 , 2021 . Second Quarter Highlights Commercial update Tremendous commercial headway in the Brazil market - Signed eight new sales agreements for 5.8mm Committed ( 1 ) gallons per day ( " GPD ” ) contributing to illustrative Total Segment Operating Margin goal ( 2 ) of $ 1.1Bn Norsk Hydro - Signed memorandum of understanding ( “ MOU ” ) and negotiating for up to 1.0mm GPD Run Rate ( 3 ) long - term gas supply agreement for Alunorte refinery , co - located with our Barcarena Terminal Executed a Gas Sales Agreement with Industrial Customer in NE Brazil – up to 1.4mm GPD Run Rate ( 3 ) to be supplied from our Suape terminal Three small - scale LNG sales agreements signed totaling over 200k GPD at Barcarena and Santa Catarina Secured LNG supply for approximately 100 % of our expected needs for our terminals and assets across the Caribbean , Mexico and Central America through 2027 at a price indexed to Henry Hub Significant volume growth – over 5.8 million Committed ( 1 ) GPD with over 12 million of In Discussion ( 4 ) GPD Signed five new direct sales customer agreements with an estimated 50k new GPD of Committed ( 1 ) Volumes Development update Began commercial operations at the Port of Pichilingue in Baja California Sur , Mexico , expect to be fully Operational ( 5 ) in 60 days Nicaragua project is nearing completion and is expected to be Operational ( 5 ) in Q3 2021 Our development projects in Barcarena , Suape and Santa Catarina are advancing on schedule and expected to be Operational ( 5 ) in Q1 2022 Barcerena and Santa Catarina - Signed EPC contracts , obtained all permits and commenced construction Suape – LNTP to power plant EPC contractor issued NFE continues to make great progress on our Fast LNG asset which will help provide us with stable supply at rates well below the open market Actively engaging with gas suppliers around the globe to source long - term , fixed price feedstock