LNG: Production at First Altamira Project Due in March

New Fortress Energy expects to start LNG production at its first FLNG project off Altamira, Mexico in March and first cargo in April 2024 according to LNG Prime.

• The $1.3 billion FLNG project consists of three rigs, Pioneer I, II, and III. The 160,000-cbm Penguin FSU to be used as a floating storage unit is moored and connected and “awaiting first LNG”.
• NFE said it has secured financing commitments of $700m for its second LNG project located onshore Altamira. NFE previously signed a letter of intent with CFE to install FLNG with sufficient land for up to two 1.4mtpa.
• Construction is expected to begin in April with completion expected in the Q1 2026.
• US LNG firm in June received an export permit for up to 7.8m metric tons through April 2028 from its Altamira Fast LNG facility from Mexico’s Ministry of Energy (SENER).