Big purchase: New Fortress Energy acquires Hygo Energy Transition and Golar LNG Partners in $5bn deal

Nasdaq-listed New Fortress Energy (NFE) has entered into definitive agreements to acquire Hygo Energy Transition and Golar LNG Partners for $5bn in total. Hygo Energy Transition is a joint venture between Golar LNG and Stonepeak Infrastructure Partners. With the Hygo acquisition, NFE will acquire an FSRU terminal and a 50% stake in a power plant in Sergipe, Brazil, as well as two other FSRU terminals located in Brazil. Hygo’s fleet also consists of a new FSRU and two LNG carriers. NFE will also take over Golar’s fleet of six FSRUs, four LNG carriers and a 50% interest in Trains 1 and 2 of the Hilli, a floating liquefaction vessel.

“With a world-class LNG transportation business, Hygo and GMLP will be a great addition to our efforts,” said Ves Edens, Chairman and CEO of NFE. “The addition of Hygo will rapidly expand our presence in South America with gas-fired power projects in the large and rapidly growing Brazilian market. With GMLP, we get world-class LNG vessels and operators that are perfect for our terminals and reliable pipelines, ”added Edens. As a reminder, New Fortress Energy is an energy infrastructure company dedicated to accelerating the world’s transition to green energy.

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