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    New Fortress, Apollo complete LNG JV


Energos Infrastructure will operate a portfolio of 11 floating LNG vessels. [Image: New Fortress Energy]

by: Dale Lunan

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New Fortress, Apollo complete LNG JV

Energy infrastructure company New Fortress Energy (NFE) and global asset manager Apollo said August 15 they had completed a $2bn joint venture (JV) agreement to create Energos Infrastructure, with a portfolio of 11 LNG infrastructure vessels.

Energos will be owned 80% by funds managed by Apollo and 20% by NFE and will be led by maritime industry veterans Arthur Regan as CEO and Kevin Kilcullen as CFO. It will be headquartered in Stamford, Connecticut.

The JV’s asset portfolio consists of six floating storage and regasification units, two LNG carriers and three floating storage units. NFE has agreed to charter 10 of the vessels from the JV for a period of up to 20 years, with the charters to begin immediately or upon expiration of the vessels’ existing third-party charter agreements.

Energos will provide critical infrastructure for the delivery, storage, and regasification of LNG to power countries around the world, the JV partners said, and can also serve a diversified customer base of utilities and energy companies worldwide under third-party charters.

“Reliable energy infrastructure is essential to address the global energy crisis and reduce emissions,” NFE CEO Wes Edens said. “We are pleased to partner with Apollo to launch a premier LNG maritime infrastructure company that will enhance our efforts to bring cleaner fuel and energy security to customers around the world.”