New Fortress Energy gains on agreement to supply LNG to Puerto Rican government

Shares of U.S. LNG firm New Fortress Energy NFE.O rise 25% to $2.49 in extended trading

Company reaches agreement for long-term gas supply with Puerto Rican government for a term of 7 years

NFE expects to supply LNG from its 1.4 million tonnes per annum facility located offshore Mexico

Company expects supply of 75 trillion British thermal units (TBtu) of natural gas per year through the agreement, with minimum annual take-or-pay volumes of 40 TBtu, increasing to 50 TBtu if certain conditions are met

Up till last close, shares are down 86.7% YTD