New Fortress Energy to sell 11 LNG vessels to JV with Apollo for $2bn

New Fortress Energy (NFE) has signed a deal to sell 11 liquefied natural gas (LNG) infrastructure vessels to a joint venture (JV) it will form with Apollo for a price of around $2bn.

New Fortress Energy chairman and CEO Wes Edens said: “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.”

Apollo partner Brad Fierstein said: “Energy transition and energy reliability are global priorities and core to Apollo’s sustainable investing platform. We’re pleased to further these initiatives through this long-term investment alongside our JV partners at New Fortress Energy.”

“This is a high-quality portfolio that increases energy security around the world, accelerates decarbonisation efforts, and facilitates LNG use which is cleaner and more affordable than diesel.”