The US government has approved the first liquefied natural gas (LNG) export since President Biden announced an export pause in January 2024.
New Fortress Energy is the first company to be granted authorisation for LNG export.
It was announced this week (3rd September), that the company could export up to 1.4 million tonnes per annum of LNG to non-free trade agreement countries from Fast LNG.
Fast LNG is located offshore Altamira, Mexico, and has a production capacity of 1.4 million tonnes of LNG per annum.
Last month (August 2024), New Fortress Energy resumed production at Fast LNG 1, following a planned outage after it shipped its first cargo.
Read more: New Fortress Energy resumes production at Fast LNG site in Mexico
In combination with the previously received free trade agreement authorisation granted by the DOE, the company’s FLNG 1 asset is now able to export LNG to markets and customers worldwide.
Wes Edens, Chairman and CEO of New Fortress Energy, said, “The important authorisation cements New Fortress Energy’s position as a leading global vertically integrated gas to power company and enhances the marketability of our FLNG 1 asset.”
Last year, roughly half of US LNG exports went to Europe. In 2022, Europe and US pledged to work toward the goal of ensuring additional LNG volumes for the European market – with the US exceeding its annual delivery targets to Europe in each of the past two years.
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