New Fortress Energy Inc. has finalised the sale of its 20 percent equity stake in Energos Infrastructure to funds managed by Apollo. The transaction, completed recently, is part of the company’s strategic move to reallocate resources towards general corporate purposes, including debt repayment and investment in downstream projects with potential for growth.
Energos Infrastructure, a global maritime infrastructure firm established by NFE and Apollo Funds in August 2022, specialises in providing LNG delivery, storage, and regasification services to a diverse clientele. The company owns and operates a fleet of 13 LNG infrastructure vessels, comprising floating storage and regasification units, floating storage units, and LNG carriers.
Although NFE has divested its equity interest in Energos, it will continue to maintain an active relationship with the company. NFE currently charters six vessels from Energos to support its global operations, with charters lasting up to 20 years. These charters have already begun or will commence upon the expiration of existing third-party charter agreements for each vessel.
Wes Edens, chairman and CEO of New Fortress Energy, expressed satisfaction with the establishment and growth of Energos. He stated, “Completing the sale of our interest to Apollo Funds allows us to recycle proceeds into high-return downstream projects and reduce debt.”
For more information visit www.newfortressenergy.com
