New Fortress Energy and Apollo have agreed to sell 11 LNG infrastructure vessels owned by NFE to a newly formed joint venture that will be 80 percent owned by Apollo funds and 20 percent by NFE.
The 11-vessel portfolio consists of six floating storage and regasification units, two LNG carriers and three floating storage units. As part of the transaction, NFE has agreed to charter 10 of the 11 of the vessels from the platform for a period of up to 20 years.
Valued at $2 billion, the transaction will create a global marine infrastructure platform underpinned by long-term contracts. It will benefit from NFE’s LNG downstream operations and development activities, as well as Apollo’s investment and maritime experience.
“Together with Apollo, we are creating a leading LNG marine infrastructure platform to help accelerate the energy transition while freeing up capital to continue to invest into our Fast LNG and downstream LNG projects worldwide,” said Wes Edens