US-based LNG player New Fortress Energy has secured a $700 million loan to fully fund the construction of its second Fast LNG unit (FLNG 2).
The FLNG 2 unit will be developed in collaboration with Mexico’s state-owned utility, Comisión Federal de Electricidad, utilizing its terminal infrastructure in Altamira.
The Fast LNG design is unique, combining the latest advancements in modular liquefaction technology with jackup rigs or similar offshore infrastructure for quicker deployment compared to traditional liquefaction facilities.
This new liquefaction unit will use the same proprietary modular technology as the first FLNG unit and is expected to be completed in the first half of 2026.
The loan follows New Fortress Energy’s recent production of the first LNG from the FLNG 1 unit. Now operational, FLNG 1 will deliver its first cargo in August and then enter full production. It has a production capacity of 1.4 mtpa, or approximately 70 TBtu.
“Our FLNG complex is advancing at a rapid pace as we have now produced LNG at our first unit and fully financed our second,” said Wes Edens, chairman and CEO of New Fortress Energy.