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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 50-50 joint venture between Tor Olav Trøim-led Golar LNG and Stonepeak Infrastructure Partners.

With the acquisition of Hygo, NFE will acquire an FSRU terminal and a 50% interest in a power plant in Sergipe, Brazil as well as two other FSRU terminals in advanced stages in Brazil. Hygo’s fleet also has a newbuild 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 strong presence in Brazil and a world-class LNG shipping business, Hygo and GMLP are excellent additions to our efforts to accelerate the world’s energy transition,” said Wes Edens, chairman and CEO of NFE.

“The addition of Hygo will quickly expand our footprint in South America with three gas-to-power projects in Brazil’s large and fast-growing market. With GMLP, we gain LNG ships and world-class operators that are an ideal fit to support our existing terminals and robust pipeline,” Edens added.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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