New Fortress Energy, after producing liquefied natural gas at its first floating LNG vessel (FLNG 1), has closed a US$700 million loan for its second FLNG unit.

Now operational, FLNG 1 expects to deliver its first cargo in August and enter full production thereafter.

The new loan will fully fund the construction of FLNG 2, which will be developed in partnership with Comisión Federal de Electricidad (CFE) utilizing its terminal infrastructure in Altamira, Mexico.

The new liquefaction unit will incorporate the same proprietary modular technology as FLNG 1 and is expected to complete construction in the first half of 2026.

“Our FLNG complex is advancing at a rapid pace as we have now produced LNG at our first unit, and fully financed our second. These are large infrastructure projects that add considerable financial and operational value to our company and we are thrilled with the progress to date,” says chairman and chief executive officer Wes Edens.

Nasdaq-listed New Fortress Energy owns and operates LNG infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets.