Puerto Rico ends $20 billion LNG contract talks with New Fortress Energy, Bloomberg News reports
ReutersJul 23, 2025 6:54 PM
July 23 (Reuters) - Puerto Rico is ending talks to negotiate a $20 billion liquefied natural gas contract with New Fortress Energy NFE.O, Bloomberg News reported on Wednesday, citing a negotiator.
Osvaldo Linares, president of Recoms Group, the island’s third-party procurement office, told Bloomberg News that New Fortress was unwilling to discuss changes to the contract and missed a key deadline.
New Fortress Energy did not immediately respond to a Reuters request for comment.
Earlier this month, Bloomberg News reported Puerto Rico's financial watchdog had halted the supply deal over monopoly concerns.
New Fortress shares fell more than 3% in afternoon trading. The stock has declined more than 75% in the past six months.
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