New Fortress Energy Inc. announced on November 21, 2024, the completion of the sale of its small-scale Florida-based liquefied natural gas (LNG) production and distribution business, known as Miami LNG, to Pennybacker Capital Management, LLC.
The Miami LNG business operates one liquefaction train, producing approximately 8,300 MMBtu per day of LNG. This facility is optimized for truck and rail logistics, serving various sectors including hospitality, industrial, transportation, aerospace, and marine bunkering primarily in Florida and the Caribbean islands.
This divestiture is part of New Fortress Energy's ongoing strategy to optimize its asset portfolio. The transaction allows the company to streamline its operations and potentially reallocate resources to other strategic growth areas.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.