New Fortress Energy (NFE), a US LNG company, has finalised the divestment of its 20% equity interest in Energos Infrastructure to funds overseen by Apollo (Apollo Funds).

Energos Infrastructure was established by NFE and Apollo Funds as a joint venture in August 2022.

The maritime infrastructure entity, Energos, is engaged in LNG delivery, storage and regasification services.

Its operations cater to a varied clientele, including utilities and energy companies, under long-term charter agreements.

The fleet managed by Energos comprises 13 LNG infrastructure vessels – nine FSRUs, FSUs and two LNG carriers.

The proceeds from this transaction are earmarked for corporate purposes including debt repayment and investment in downstream projects that promise to add value.

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New Fortress Energy chairman and CEO Wes Edens said: “We are pleased to have established Energos with Apollo Funds, our joint venture partner, and to have built it into a premier LNG maritime infrastructure company today.

“Completing the sale of our interest to Apollo Funds allows us to recycle proceeds into high-return downstream projects and to reduce debt.”

NFE’s ongoing collaboration with Energos is underscored by the charter of six LNG vessels, which are integral to NFE’s international terminal operations.

These charters, which are set to span up to two decades, will either commence immediately or begin after the conclusion of the vessels’ current third-party charter contracts.

In November 2023, Reuters reported that Pemex and New Fortress scrapped a deal to build a deepwater natural gas project in Mexico.

In 2022, the two companies agreed to work on the Lakach gas field in the Gulf of Mexico.