New Fortress Energy Inc. (NASDAQ: NFE) has reported entry into definitive agreements to acquire Hygo Energy Transition Ltd., a joint venture between Golar LNG Limited (NASDAQ: GLNG) and Stonepeak Infrastructure Fund II Cayman Ltd. “With a strong presence in Brazil and a world-class LNG shipping business, Hygo and GMLP are excellent additions to our efforts to accelerate. New Fortress Energy Inc. (NASDAQ: NFE) has reported entry into definitive agreements to acquire Hygo Energy Transition Ltd., a joint venture between Golar LNG Limited (NASDAQ: GLNG) and Stonepeak Infrastructure Fund II Cayman Ltd.
New Fortress Energy Inc. said Wednesday it is acquiring Golar LNG Partners LP (GMLP) and Hygo Energy Transition Ltd. in a deal valued at $5 billion that
RIO DE JANEIRO (Jan 13): US-based New Fortress Energy Inc said on Wednesday that it would buy natural gas company Hygo Energy Transition Ltd for US$2.18 billion to expand its presence in Brazil, a frontier for growth in the burgeoning liquefied natural gas market. New Fortress, an energy infrastructure company, is among the private industry players setting their sights on Brazil, where demand for super-cooled LNG is rising, though the market is smaller than in India and China, where power generators are shifting from dirtier coal to natural gas.
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RIO DE JANEIRO, Jan 13 (Reuters) - Energy infrastructure company New Fortress Energy Inc said on Wednesday it would buy Hygo Energy Transition Ltd for $2.18 billion to expand its presence in Brazil, as South America’s largest market opens its natural gas industry to private investors.
Hygo is a 50-50% joint venture between Golar LNG and U.S. private equity firm Stonepeak Infrastructure Partners. The company transports liquefied natural gas (LNG) and has become a key player in the Brazilian industry as the local state-controlled company Petrobras sells assets to end what five years ago was a near monopoly in natural gas.