On July 25, 2025, Puerto Rico officially canceled a proposed $20 billion liquefied natural gas (LNG) supply deal with New Fortress Energy Inc. This decision follows earlier reports of the contract being halted by the island's Financial Oversight and Management Board.
The abandonment of the deal came after New Fortress Energy reportedly refused to consider amendments to the contract and failed to meet a crucial deadline. This indicates a breakdown in negotiations and a definitive loss of a substantial long-term revenue opportunity for the company.
This cancellation represents a significant setback for New Fortress Energy's strategic plans in Puerto Rico, a key market for its integrated gas-to-power model. The inability to finalize such a large contract, particularly due to a refusal to amend terms, raises concerns about the company's negotiation flexibility and its future growth prospects in the region.
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