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.
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.
Golar LNG
Golar LNG Limited and Stonepeak Infrastructure Partners to Sell 100% of Hygo Energy Transition Ltd. to New Fortress Energy
Golar LNG Limited and Stonepeak Infrastructure Partners to Sell 100% of Hygo Energy Transition Ltd. to New Fortress Energy
January 13, 2021 – Golar LNG Limited (Nasdaq: GLNG) (“GLNG”) today announced that it and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (“Stonepeak”) have entered into a definitive agreement and plan of merger to sell 100% of Hygo Energy Transition Ltd. (“Hygo”) to New Fortress Energy Inc. (Nasdaq: NFE) (“NFE”).
Hygo, a gas to power and downstream LNG distribution company, is owned 50% by each of GLNG and by funds and other entities managed by Stonepeak.
New Fortress Energy Inc said on Wednesday it would buy Hygo Energy Transition Ltd, a 50-50 joint venture between Golar LNG Ltd and Stonepeak Infrastructure…