New Fortress Energy has entered into a definitive agreement to sell a small-scale LNG business based in Miami, Florida, to Pennybacker Capital, a real assets investment manager. Financial terms were not disclosed. The transaction is expected to close in Q3 subject to customary terms and conditions. The Miami-based business includes a small-scale liquefaction facility capable of producing 8,300 MMBtu of LNG per day with onsite storage capacity of ~1,000 cubic meters.
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