Jamaica completes offshore LNG terminal

The natural gas supplier New Fortress Energy has finished construction for its new floating regasification vessel, the Golar Freeze, off the Old Harbour in Jamaica.

This deal is expected to generate over USD22 million for the vessel’s owner, Golar LNG Partners. New Fortress is planning a USD 100 million initial public offering, though the details for the time of listing and pricing have not been released yet.

The energy company’s terminal is aiming to become a regasification hub in the region, with the ship’s charter contracted for at least 15 years. The offshore terminal will feel supplies to Jamaica Public Service Company’s LNG-fired power plant. This power plant is set for completion in early 2019.

The energy company is active in the region, with two other developments in Puerto Rico and Mexico.

The official unveiling for the project will be in the new year.