One of the world’s leading LNG project developers New Fortress Energy (NFE) has secured a $700 million loan for the second floating liquefied natural gas (FLNG) unit in Mexico, days after producing LNG at its first FLNG unit offshore Altamira.
The new loan will fully fund the construction of FLNG 2, to be developed in partnership with Comisión Federal de Electricidad (CFE) utilizing its extensive in-place terminal infrastructure onshore in Altamira.
The new liquefaction unit will incorporate the same proprietary modular technology as FLNG 1 and is expected to complete construction in the first half of 2026.
NFE announced on July 19 that it achieved first LNG production from its first 1.4 MTPA FLNG unit Fast LNG.
“Our FLNG complex is advancing at a rapid pace as we have now produced LNG at our first unit, and fully financed our second. These are large infrastructure projects that add considerable financial and operational value to our Company and we are thrilled with the progress to date,” said Wes Edens, Chairman and CEO of NFE.