Puerto Rico watchdog halts New Fortress' $20 billion supply deal, Bloomberg News reports
ReutersJul 10, 2025 4:44 PM
July 10 (Reuters) - Puerto Rico's finance regulator has halted New Fortress Energy's NFE.O $20 billion natural gas supply deal over monopoly concerns, Bloomberg News reported on Thursday, citing a letter to the island's energy czar, Josue Colon.
Shares of the company were down 7.6% in afternoon trading.
The Financial Oversight and Management Board said it has "profound concerns" about a proposed 15-year contract between New Fortress' subsidary Genera PR and the company's unit that delivers liquefied gas, the report said.
New Fortress Energy did not immediately respond to a Reuters request for comment.
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