Billionaire Outlines Massive LNG Plan to Feed World Hungry for Gas
- New Fortress Energy planning faster, cheaper LNG export plants
- Aims to produce as much as 16% of U.S. LNG shipments
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New Fortress Energy Inc. is new to the LNG-export game, but its billionaire chief has big plans. Within a couple of years, he aims to supply as much as 11 million metric tons of the superchilled fuel annually -- the equivalent of almost 16% of total U.S. exports.
For a company that’s mostly a buyer of the fuel, the plan sounds like a pipe dream. Wes Edens, the private equity investor who founded the company, says he will use fast-track permits, recycled jack-up rigs and deep-water drill ships to get there.