New Fortress Energy expects to deliver a first cargo next month from its newly started-up 1.4m tonne per annum offshore liquefaction project Fast LNG off Altamira, Mexico.
“Now operational, FLNG 1 expects to deliver its first cargo in August and enter full production thereafter,” the US-listed company said.
On Friday, it revealed it has started producing LNG on its three semi-submersible structures and had transferred volumes to its floating storage unit.
But data providers said the FSU and a visiting vessel appeared largely empty, suggesting these were test runs.
In the same statement, New Fortress announced that it had closed out a $700m loan for its second Fast LNG project.
It said the cash will fully fund the construction of Fast LNG 2, which is being developed in partnership with the Comision Federal de Electricidad.
This second project will use existing but unused terminal infrastructure onshore at Altamira and the new liquefaction unit will incorporate the same modular technology deployed in Fast LNG 1.
It is expected to complete construction in the first half of 2026.
In May 2023, New Fortress revealed its plan to switch Mexico’s Altamira LNG import terminal into a 2.8-mtpa export plant by using liquefaction modules that were originally to be used for its second two Fast LNG production units at the onshore site instead.
At the time, New Fortress chief executive Wes Edens described the Altamira terminal “a thing of beauty” in that it has two existing storage tanks, marine infrastructure, access to power with a space for the liquefaction modules.
The company was originally targeting a 2024 start date.
On Monday, Edens said: “Our FLNG complex is advancing at a rapid pace as we have now produced LNG at our first unit and fully financed our second.
“These are large infrastructure projects that add considerable financial and operational value to our company and we are thrilled with the progress to date.”
