New Fortress’ Floating LNG Plant Outperforms Expectations in Early Operations

 

(Photo Source: newfortressenergy.com)

New Fortress Energy has confirmed that its pioneering Fast LNG 1 facility, a modular floating liquefaction plant installed off Louisiana, is already producing above its design capacity in early operations.

Mounted on a converted jack-up rig, Fast LNG 1 is the first in a series of modular offshore LNG units designed to provide flexible export capacity for smaller stranded gas fields and existing pipelines. This flexibility reduces capital costs compared to traditional onshore LNG plants, allowing faster payback.

The first cargoes from Fast LNG 1 have already been shipped to Europe and Asia, where demand for flexible spot LNG remains strong. The success of this unit strengthens New Fortress’ position as a disruptor in the LNG supply chain, with Fast LNG 2 and 3 expected to follow later this year.