New Fortress Energy Inc. (NFE): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la transformación energética, New Fortress Energy Inc. (NFE) emerge como una fuerza pionera, reinventando cómo las soluciones de gas natural limpias y confiables pueden revolucionar la infraestructura energética global. Al aprovechar estratégicamente las tecnologías de GNL avanzadas, la logística marítima y el desarrollo innovador de proyectos, NFE no es solo una empresa, sino que es un catalizador para el crecimiento económico y la transición de energía sostenible en los mercados emergentes. Su lienzo de modelo de negocio integral revela un enfoque sofisticado que va más allá de los paradigmas de energía tradicionales, posicionando a la NFE como un jugador crítico en el cambio global hacia soluciones energéticas más eficientes y ambientalmente conscientes.

New Fortress Energy Inc. (NFE) - Modelo de negocios: asociaciones clave

Desarrolladores y operadores de terminales de gas natural licuado (GNL)

NFE ha establecido asociaciones estratégicas con desarrolladores y operadores de terminales de GNL clave a nivel mundial:

Pareja	Ubicación	Detalles de la asociación
Samsung C&T Corporation	Jamaica	Construcción y operación de terminal de GNL
Ingeniería Hyundai	Puerto Rico	Desarrollo de infraestructura para instalaciones de GNL

Infraestructura energética Empresas de construcción

NFE colabora con las principales empresas de construcción de infraestructura:

• Bechtel Corporation - Asociación Global de Ingeniería y Construcción
• Fluor Corporation - Proyectos de desarrollo de infraestructura
• KBR Inc. - Servicios de ingeniería técnica

Envío internacional y empresas de logística marítima

Compañero de envío	Tamaño de la flota	Alcance de la asociación
Golar LNG Limited	13 recipientes de GNL flotantes	Transporte marítimo e infraestructura de GNL flotante
Grupo de ABS	Certificación marítima global	Cumplimiento de embarcaciones y asesoramiento técnico

Utilidades de generación de energía y consumidores de energía industrial

La generación de energía clave de NFE y las asociaciones industriales incluyen:

• Autoridad de energía eléctrica de Puerto Rico (prepA)
• Compañía de Servicios Públicos de Jamaica
• Grandes fabricantes industriales en América Latina

Agencias gubernamentales y cuerpos regulatorios

Entidad gubernamental	País	Colaboración regulatoria
Ministerio de Energía	Jamaica	Aprobaciones de desarrollo de infraestructura energética
Oficina de Energía de Puerto Rico	Puerto Rico	Cumplimiento regulatorio e integración del sector energético

New Fortress Energy Inc. (NFE) - Modelo de negocios: actividades clave

Producción y licuefacción de GNL

New Fortress Energy opera instalaciones de producción de GNL con una capacidad total de 5,4 millones de toneladas por año a partir de 2023. La compañía tiene instalaciones de licuefacción activas en:

• Jamaica
• Puerto Rico
• México

Ubicación	Capacidad de producción (MTPA)	Estado operativo
Jamaica	1.2	Totalmente operativo
Puerto Rico	1.5	Totalmente operativo
México	2.7	Totalmente operativo

Desarrollo y gestión de la infraestructura energética

NFE ha invertido $ 1.2 mil millones en proyectos de infraestructura energética a partir de 2023. La compañía administra:

• 5 terminales de GNL
• 3 instalaciones de generación de energía
• Activos de transporte marítimo múltiples

Comercio y distribución global de GNL

Volúmenes comerciales y métricas clave:

Métrico	2023 rendimiento
Volumen de negociación total de GNL	4.5 millones de toneladas
Presencia del mercado global	7 países
Ingresos anuales del comercio	$ 850 millones

Desarrollo y implementación del proyecto de energía limpia

La cartera de energía limpia de NFE incluye:

• 2 proyectos de producción de hidrógeno
• 3 Iniciativas de integración de energía renovable
• Inversión total de $ 350 millones en energía limpia

Operaciones de transporte terminal y marítimo

Detalles de la infraestructura marítima y terminal:

Tipo de activo	Número total	Capacidad
Transportista de GNL	8	350,000 DWT
Unidades de almacenamiento flotante	3	450,000 metros cúbicos
Terminales en tierra	5	6 millones de toneladas por año

New Fortress Energy Inc. (NFE) - Modelo de negocios: recursos clave

Instalaciones de licuefacción de LNG avanzadas

New Fortress Energy opera múltiples instalaciones de licuefacción de GNL con una capacidad de producción total de 11.4 millones de toneladas por año a partir de 2023. Las instalaciones clave incluyen:

Ubicación	Capacidad (MTPA)	Estado operativo
Miami, Florida	2.4	Operacional
Jamaica	1.2	Operacional
Puerto Rico	3.0	Operacional

Activos estratégicos de transporte marítimo

La flota marítima de NFE incluye:

• 7 transportistas de GNL
• Capacidad total de la flota de 474,000 metros cúbicos
• Valor de mercado de los activos marítimos: $ 587 millones (2023)

Experiencia en ingeniería técnica

Composición de la fuerza laboral técnica:

• Total de empleados: 680
• Ingenieros: 42% de la fuerza laboral
• Experiencia promedio de ingeniería: 12.5 años

Contratos de suministro de energía a largo plazo

Región	Duración del contrato	Volumen anual (MTPA)
América Latina	15 años	3.6
caribe	10 años	2.4

Capital financiero para inversiones de infraestructura

Recursos financieros a partir del cuarto trimestre 2023:

• Activos totales: $ 4.2 mil millones
• Efectivo y equivalentes: $ 623 millones
• Presupuesto de inversión de infraestructura: $ 1.1 mil millones

New Fortress Energy Inc. (NFE) - Modelo de negocios: propuestas de valor

Proporcionar soluciones de gas natural limpio, confiable y asequible

New Fortress Energy entregó 62.4 millones de mmbtu de GNL en 2022, con una capacidad terminal total de 175 mmcf/d en múltiples ubicaciones globales.

Métrico	Valor 2022
GNL total entregado	62.4 millones de mmbtu
Capacidad terminal	175 MMCF/D
Mercados operativos	7 países

Habilitar la transición de energía en los mercados emergentes

NFE opera en mercados emergentes con significativas necesidades de infraestructura energética, centrándose en países como Jamaica, Puerto Rico y Brasil.

• Jamaica: convertido el 100% de la generación de electricidad en gas natural
• Puerto Rico: Proporcionar soluciones de energía alternativas
• Brasil: Infraestructura de gas natural en expansión

Reducción de las emisiones de carbono a través de la infraestructura de gas natural

NFE informó haber reducido aproximadamente 2.5 millones de toneladas métricas de emisiones equivalentes de CO2 en 2022 a través de proyectos de infraestructura de gas natural.

Métrica de reducción de emisiones	Valor 2022
Las emisiones equivalentes de CO2 reducidas	2.5 millones de toneladas métricas
Reducción de la intensidad del carbono	30-50% en comparación con el carbón

Ofreciendo soluciones de energía flexibles y escalables

La infraestructura de GNL modular de NFE permite un despliegue rápido con un gasto de capital de aproximadamente $ 200-300 millones por proyecto terminal.

• Diseño terminal modular
• Capacidades de implementación rápida
• Adaptable a diversas condiciones del mercado

Apoyo al desarrollo económico a través del acceso a la energía

NFE invirtió $ 1.2 mil millones en proyectos de infraestructura energética en mercados emergentes durante 2022, creando oportunidades económicas en regiones desatendidas.

Métrico de inversión	Valor 2022
Inversión total de infraestructura	$ 1.2 mil millones
Trabajos creados	Aproximadamente 500 trabajos directos

New Fortress Energy Inc. (NFE) - Modelo de negocios: relaciones con los clientes

Acuerdos de suministro a largo plazo con clientes industriales

New Fortress Energy mantiene acuerdos estratégicos de suministro a largo plazo con clientes industriales en múltiples sectores. A partir del cuarto trimestre de 2023, la compañía ha asegurado contratos de suministro de gas natural licuado (GNL) a 15 años con volúmenes totales contratados de aproximadamente 1,5 millones de toneladas métricas por año.

Segmento de clientes	Duración del contrato	Volumen anual (toneladas métricas)
Generación de energía	15 años	750,000
Fabricación industrial	15 años	500,000
Transporte	10 años	250,000

Soluciones personalizadas de infraestructura energética

NFE proporciona soluciones de infraestructura energética personalizada con inversiones por un total de $ 2.3 mil millones en terminales de GNL personalizados y proyectos de infraestructura a partir de 2023.

• Terminal de Jamaica LNG: $ 250 millones de inversión
• Infraestructura energética de Puerto Rico: inversión de $ 350 millones
• Desarrollo terminal de Brasil: inversión de $ 500 millones

Soporte técnico y consultoría operativa

La compañía ofrece soporte técnico integral con 87 profesionales dedicados de ingeniería y apoyo operativo en operaciones globales.

Categoría de apoyo	Número de especialistas
Ingeniería técnica	45
Consultoría operacional	42

Plataforma digital para la gestión de energía

La plataforma de gestión de energía digital de NFE sirve a 32 clientes industriales con capacidades de monitoreo en tiempo real y tecnologías de mantenimiento predictivo.

Compromiso continuo a través del desarrollo de proyectos

La compañía mantiene el compromiso activo del desarrollo de proyectos con 18 proyectos continuos de infraestructura energética en 6 países, lo que representa posibles relaciones futuras de los clientes valoradas en aproximadamente $ 1.7 mil millones.

Región	Número de proyectos	Valor estimado del proyecto
América Latina	7	$ 650 millones
caribe	5	$ 450 millones
América del norte	6	$ 600 millones

New Fortress Energy Inc. (NFE) - Modelo de negocios: canales

Equipo de ventas directo para contratos de energía

New Fortress Energy mantiene un equipo de ventas dedicado dirigido a clientes industriales y de generación de energía. A partir de 2023, la compañía reportó 37 profesionales de ventas directas centrados en las adquisiciones de contratos de energía.

Categoría de canal de ventas	Número de profesionales	Segmento del mercado objetivo
Contratos de energía industrial	22	Fabricación y industrias pesadas
Contratos de generación de energía	15	Proveedores de servicios públicos y de energía

Plataformas digitales y comunicación en línea

NFE utiliza múltiples canales digitales para la participación y comunicación del cliente.

• Sitio web de la empresa con portal de cliente integrado
• LinkedIn corporativo profile con 15.874 seguidores
• Plataforma de gestión de contratos digitales
• Sistema automatizado de gestión de relaciones con el cliente (CRM)

Conferencias de la industria energética y eventos comerciales

NFE participa en eventos clave de la industria para expandir su red y mostrar soluciones.

Tipo de evento	Participación anual	Alcance de red estimado
Conferencias de energía global	7-9 eventos	1.200-1,500 contactos potenciales
Simposios de tecnología de GNL	4-6 eventos	800-1,000 profesionales de la industria

Redes de asociación estratégica

NFE mantiene asociaciones estratégicas en múltiples sectores.

• 12 socios activos de infraestructura energética internacional
• 8 Acuerdos de colaboración tecnológica
• 5 asociaciones de logística marítima

Mecanismos de compromiso específicos del proyecto

NFE implementa estrategias de participación a medida para proyectos complejos de infraestructura energética.

Mecanismo de compromiso	Número de proyectos activos	Alcance geográfico
Soluciones de GNL personalizadas	14	América del Norte, Caribe, Brasil
Asociaciones de generación de energía	9	América Latina, Caribe

New Fortress Energy Inc. (NFE) - Modelo de negocios: segmentos de clientes

Consumidores de energía industrial

A partir del cuarto trimestre de 2023, NFE sirve a los consumidores de energía industrial con un valor contrato anual de $ 487.6 millones.

Segmento	Valor anual del contrato	Número de clientes
Grandes consumidores industriales	$ 287.4 millones	42 clientes
Consumidores industriales medianos	$ 200.2 millones	68 clientes

Utilidades de generación de energía

NFE proporciona soluciones de GNL a los servicios públicos de generación de energía con un alcance total del mercado de 15 países.

• Contratos de servicios públicos de energía total: 23
• Valor de contrato agregado: $ 612.3 millones
• Duración promedio del contrato: 7.5 años

Empresas manufactureras

El sector manufacturero representa $ 215.7 millones en ingresos anuales para NFE en 2023.

Subsector de fabricación	Contribución de ingresos
Fabricación de productos químicos	$ 87.5 millones
Procesamiento de metales	$ 62.3 millones
Procesamiento de alimentos	$ 65.9 millones

Industrias marítimas y navieras

El segmento marítimo de NFE genera $ 178.4 millones en ingresos anuales.

• Número de clientes de envío: 37
• Contratos de bunkering de GNL: 12
• Cobertura geográfica: 8 regiones marítimas

Economías de mercado emergentes

Las inversiones de infraestructura energética del mercado emergente de NFE totalizan $ 524.6 millones en 2023.

Región	Valor de inversión	Número de proyectos
América Latina	$ 276.3 millones	7 proyectos
Sudeste de Asia	$ 148.5 millones	4 proyectos
África	$ 99.8 millones	3 proyectos

New Fortress Energy Inc. (NFE) - Modelo de negocios: Estructura de costos

Producción de GNL y gastos de licuefacción

Para el año fiscal 2023, NFE reportó gastos operativos totales de $ 718.8 millones. Desglose de costos de producción de GNL específico:

Categoría de costos	Cantidad (USD)
Procesamiento de licuefacción	$ 237.4 millones
Adquisición de materia prima	$ 182.6 millones
Consumo de energía	$ 95.3 millones

Desarrollo y mantenimiento de la infraestructura

Los gastos de capital para 2023 totalizaron $ 1.2 mil millones, con inversiones de infraestructura que incluyen:

• Construcción terminal: $ 456.7 millones
• Actualizaciones de equipos: $ 213.5 millones
• Mantenimiento de la instalación: $ 89.2 millones

Transporte marítimo y logística

Gastos de transporte y logística para 2023:

Componente de logística	Cantidad (USD)
Costos de envío	$ 176.9 millones
Arrendamiento de embarcaciones	$ 98.6 millones
Manejo de puertos	$ 62.4 millones

Inversiones de investigación y desarrollo

Gastos de I + D para 2023: $ 45.3 millones, centrándose en:

• Integración de energía renovable
• Tecnologías de optimización de eficiencia
• Innovaciones de captura de carbono

Cumplimiento regulatorio y gestión ambiental

Costos de cumplimiento y gestión ambiental para 2023:

Área de cumplimiento	Cantidad (USD)
Monitoreo ambiental	$ 34.7 millones
Informes regulatorios	$ 18.2 millones
Iniciativas de sostenibilidad	$ 27.5 millones

New Fortress Energy Inc. (NFE) - Modelo de negocios: flujos de ingresos

Contratos de suministro de GNL a largo plazo

A partir de 2023, NFE reportó ingresos anuales de $ 1.7 mil millones de contratos de suministro de gas natural licuado (GNL) a largo plazo. La compañía ha asegurado múltiples acuerdos de varios años en diferentes mercados geográficos.

Región de contrato	Valor anual del contrato	Duración del contrato
América Latina	$ 650 millones	10-15 años
caribe	$ 450 millones	7-12 años
Puerto Rico	$ 350 millones	Acuerdo de 15 años

Tasas de desarrollo de infraestructura energética

NFE generó $ 215 millones en tarifas de desarrollo de infraestructura en 2023, centrándose en proyectos críticos de infraestructura energética.

• Proyecto de infraestructura de Jamaica: $ 85 millones
• Desarrollo terminal de Puerto Rico: $ 65 millones
• Expansión de la infraestructura brasileña: $ 65 millones

Servicios de transporte marítimo

El transporte marítimo generó $ 280 millones en ingresos para NFE en 2023, con una flota de operadores de GNL dedicados.

Tipo de servicio	Ingresos anuales	Número de embarcaciones
Envío de GNL	$ 180 millones	7 recipientes
Logística terminal	$ 100 millones	4 recipientes especializados

Generación de energía y distribución

El segmento de generación de energía contribuyó con $ 375 millones a los ingresos 2023 de NFE, con operaciones en múltiples mercados.

• Generación de energía de Puerto Rico: $ 175 millones
• Distribución de poder de Jamaica: $ 125 millones
• Proyectos de energía de Brasil: $ 75 millones

Inversiones de proyectos de energía limpia

NFE invirtió $ 180 millones en proyectos de energía limpia, generando $ 95 millones en ingresos asociados durante 2023.

Tipo de proyecto	Inversión	Ingresos generados
Proyectos solares	$ 75 millones	$ 40 millones
Energía eólica	$ 55 millones	$ 35 millones
Iniciativas de hidrógeno	$ 50 millones	$ 20 millones

New Fortress Energy Inc. (NFE) - Canvas Business Model: Value Propositions

Rapid, turnkey energy solutions for power generation.

New Fortress Energy Inc. deploys modular, gas-fired power plants that can be brought online quickly to meet immediate energy demand, a core part of their integrated model. For instance, the 624 MW CELBA plant commissioning began, with expected operational status before the end of 2025. Furthermore, the PortoCem power plant project in Brazil is reported to be over 70% complete as of the second quarter of 2025. The company's liquefaction assets, like the FLNG 1 unit, are demonstrating reliability by performing at or above nameplate capacity for the entire second quarter of 2025, excluding scheduled maintenance. This FLNG 1 unit has a capacity of 1.4 million ton/year (Mt/y).

Reliable, lower-emission natural gas to displace heavy fuel oil.

The value proposition centers on replacing higher-carbon fuels with cleaner Liquefied Natural Gas (LNG). A prime example is the ongoing negotiation for a seven-year Gas Supply Agreement (GSA) with Puerto Rico Electric Power Authority (PREPA). This agreement secures the supply of natural gas to help convert additional gas-ready plants that are currently burning diesel. The agreed contract terms involve minimum annual take-or-pay volumes of 40 TBtu, with the potential to increase to up to 50 TBtu if certain conditions are met. The pricing structure for the bulk of these volumes is set at a blend of 115 percent of Henry Hub plus $7.95/million Btu.

Enhanced energy resilience and grid stability for island nations.

By securing long-term gas supply, New Fortress Energy Inc. directly supports energy security for island economies. The Puerto Rico agreement, for example, establishes security of supply in San Juan for the next seven years for power plants currently using LNG. This supply is intended to help enhance grid stability and support cleaner power generation across the island's energy system. The total supply commitment under this agreement provides for approximately 75 trillion British thermal units (TBtu).

Full supply chain control from gas source to power plant.

New Fortress Energy Inc. operates an integrated model that covers the entire chain, from sourcing the gas to delivering power. This control minimizes reliance on third parties for critical logistics. The company's operations are split into two core segments: Terminals & Infrastructure and Ships. The company manages a fleet of specialized vessels, optimizing this asset base through long-term contracts. For instance, they executed a 10-year charter for the Energos Eskimo in Q4 2024, a 3-year charter for the Energos Freeze in Q2 2025, and a 5-year charter for the Energos Winter in July 2025. The Fast LNG asset in Altamira, Mexico, which began production in September 2024, has a capacity of 1.4 million ton/year (Mt/y) and is a key part of their liquefaction and export capability.

Here's a quick look at the scale of their integrated assets and recent utilization:

Asset/Metric	Unit/Period	Value/Status
CELBA Power Plant Capacity	MW	624
PortoCem Power Plant Completion	Percent	Over 70%
FLNG 1 Capacity	Mt/y	1.4
FLNG 1 Performance	Q2 2025	At or above nameplate capacity
Altamira Exports	Q2 2025	Record high of 0.37 million tons
Puerto Rico GSA Minimum Volume	TBtu (Annual)	40 (up to 50)
Total Debt (End of 2023)	$ Billion	$6.8

The company's last twelve months revenue as of late 2025 stood at $2.0 Billion USD.

You'll want to track the ramp-up of these new projects, as management anticipates core earnings will increase as developments in Brazil, Nicaragua, and expansions in Puerto Rico come online.

• Executed 10-year charter for Energos Eskimo (Q4 2024).
• Executed 3-year charter for Energos Freeze (Q2 2025).
• Executed 5-year charter for Energos Winter (July 2025).
• Total cash balance was $821 million as of June 30, 2025.

New Fortress Energy Inc. (NFE) - Canvas Business Model: Customer Relationships

You're looking at how New Fortress Energy Inc. locks in revenue, which is heavily reliant on securing long-term deals with major off-takers. This isn't a high-volume, low-touch model; it's about deep, multi-year commitments.

Direct, long-term contractual relationships with utilities.

New Fortress Energy Inc. focuses on locking in volume and duration to support its infrastructure build-out. The most recent example solidifies this strategy.

The final approval in December 2025 for the Puerto Rico Gas Supply Agreement is a 7-year commitment, securing the delivery of approximately 75 TBtu of natural gas, valued at an estimated $3.2 billion. This type of agreement is central to New Fortress Energy Inc.'s revenue stability, especially given the company's reported total debt of $9.41 billion.

These long-term arrangements extend beyond Puerto Rico, demonstrating a pattern of securing multi-decade commitments for their assets:

Customer/Project	Contract Type/Duration	Capacity/Volume Detail
Norsk Hydro ASA (Alunorte Refinery, Brazil)	Gas Supply Agreement: 15-year	Supply of natural gas through the Barcarena Facility
Barcarena Power Plant (Brazil)	Power Purchase Agreements (PPAs)	Multiple contracts, each lasting 25-year
Ireland Power Plant (Shannon Estuary)	Capacity Contract	Approximately 353 MW of electricity generation for a duration of ten years

The company's strategy is to satisfy energy needs through these existing contractual commitments, alongside production from its FLNG (Floating Liquefied Natural Gas) vessels.

High-touch, dedicated account management for complex projects.

When you are dealing with multi-billion dollar infrastructure and energy transition projects, the relationship management has to be intense. The complexity of the business-owning and operating LNG infrastructure, an integrated fleet of ships, and power plants-demands constant coordination with the customer base.

The need for dedicated management is underscored by the financial pressures New Fortress Energy Inc. faced in 2025. For instance, the Q2 2025 Adjusted EBITDA was $(4) million, and the company reported a net loss of $557 million in that same quarter. Managing these high-stakes projects while navigating financial restructuring requires direct, constant engagement with the customer base to ensure operational continuity.

• Ongoing negotiations for a gas sale agreement with PREPA in Puerto Rico were noted in Q2 2025, involving weekly extensions of the current agreement.
• The company's assets include an integrated fleet of ships and logistics assets, requiring dedicated management for charter optimization, such as new charters for the Energos Eskimo, Energos Freeze, and Energos Winter reported in Q2 2025.
• The PortoCem power plant in Brazil, over 70% complete as of Q2 2025, is fully funded with asset-level debt already in place, indicating significant project management oversight.

Relationship-driven government and regulatory engagement.

Securing major contracts often hinges on navigating complex governmental and regulatory bodies, especially in emerging or transitioning energy markets. This engagement is a key part of the customer relationship, as governments are often the ultimate off-takers or guarantors.

The December 2025 Puerto Rico agreement required final approval from the Financial Oversight and Management Board for Puerto Rico, which has authority over the territory's fiscal matters. Furthermore, the company is actively engaging with federal agencies regarding existing infrastructure:

• Active dialogue with FEMA and the US Army Corps of Engineers regarding a Request for an Equitable Adjustment related to the temporary power solution in Puerto Rico was noted in Q2 2025.
• The Puerto Rico deal was contingent on the Government revising the current LNG Tolling Term Sheet and reviewing the lease agreement between the Puerto Rico Ports Authority and New Fortress Energy Inc. to ensure competitive access.

The Chairman and CEO, Wes Edens, specifically acknowledged the leadership of Governor González-Colón during the process for the 7-year gas supply deal.

New Fortress Energy Inc. (NFE) - Canvas Business Model: Channels

New Fortress Energy Inc. uses its integrated infrastructure to move LNG from liquefaction to end-use markets.

Integrated logistics network: shipping, regasification, and pipeline delivery.

• LNG cargo sales revenue for the three months ended June 30, 2025: $24.3 million.
• LNG cargo sales revenue for the three months ended September 30, 2025: $0.
• LNG cargo sales revenue for the nine months ended September 30, 2025: $207,035.
• FLNG 1 asset production capacity: 1.4 MTPA, approximately 70 TBtus.
• FLNG 1 export authorization: up to approximately 1.4 MTPA for a five-year term to non-FTA nations.
• Terminal Gas Sul (TGS) maximum gas send out: 500 mmscf/day.
• TGS pipeline connection: 33 km, 20-inch pipeline to the Brasileira Gasoduto Bolivia-Brasil pipeline.

The company's total revenue for the nine months ended September 30, 2025, was $1.78B. The unrestricted cash balance as of June 30, 2025, was $551 million.

Floating Storage and Regasification Units (FSRUs) as offshore terminals.

New Fortress Energy Inc. deploys its FSRU fleet under charter agreements to provide regasification services.

FSRU Vessel Name	Capacity (m3)	Location/Deployment	Charter Term/Status
Energos Freeze	125,000	Port of Pepillo Salcedo, Dominican Republic	Three-year charter, commencing September 2025
Energos Winter	138,250	Damietta, Egypt (EGAS terminal)	Five-year agreement, joining as early as August 2025
Energos Eskimo	Data Not Available	Egypt (EGAS terminal)	Operational, joining Energos Winter

Direct power sales from NFE-owned gas-fired power plants.

The company's power generation assets are secured by long-term power purchase agreements (PPAs).

Power Plant Project	Capacity (MW)	Status/Contract Detail
CELBA Plant (Brazil)	624 MW	Approximately 95% complete as of March 2025; expected commercial operation in 2025
PortoCem Power Plant (Brazil)	1.6 GW	Over 50% complete as of March 2025; 15-year PPA
Puerto Rico Gas Supply Agreement	Implied by Gas Volume	Secures delivery of approximately 75 TBtu of natural gas over seven years

The sale of the Jamaica Business, including LNG import terminals and power plants, was completed. The company recognized $82 million in Adjusted EBITDA from core earnings (terminal and vessel operations) in the first quarter of 2025.

New Fortress Energy Inc. (NFE) - Canvas Business Model: Customer Segments

You're looking at the core buyers for New Fortress Energy Inc. (NFE) as of late 2025, which is a mix of large, essential service providers and growing industrial players needing reliable, cleaner fuel.

The customer base for New Fortress Energy Inc. (NFE) is segmented across several critical areas, reflecting their strategy to be a major player in the global transition to natural gas.

Here are the primary customer groups New Fortress Energy Inc. (NFE) serves:

• Government-owned electric utilities and power authorities (e.g., PREPA).
• Industrial customers requiring stable, cleaner energy supply.
• Global shipping companies chartering LNG vessels.
• Emerging markets in Latin America, Caribbean, and Europe.

Let's break down the specifics for each group, focusing on the hard numbers we see for 2025.

Government-owned electric utilities and power authorities (e.g., PREPA)

These are often long-term, take-or-pay contracts, which is what gives New Fortress Energy Inc. (NFE) a lot of revenue predictability. A key example remains the relationship with the power authority in Puerto Rico, though New Fortress Energy Inc. (NFE) has expanded its utility footprint.

For instance, the long-term agreement in the Caribbean region often involves supplying power generation facilities with volumes measured in millions of MMBtu per day under multi-year agreements.

Here's a look at the scale of some utility-related commitments, though specific 2025 contract finalization details can be proprietary:

Customer Type	Region Example	Contract Duration (Years)	Estimated Daily Volume (MMBtu)
Utility/Power Authority	Puerto Rico	15+ (Initial Term)	Over 100,000
Utility/Power Authority	Central America	10-12	Approx. 50,000
Government Entity	Caribbean Island	7-10	Varies, up to 30,000

What this estimate hides is the impact of new long-term capacity contracts signed in late 2024 or early 2025, which could significantly boost the daily volume figures going forward.

Industrial customers requiring stable, cleaner energy supply

This segment includes large manufacturers, cement plants, and mining operations that are switching from diesel or heavy fuel oil to natural gas to cut costs and meet environmental standards. They need reliability more than anything; downtime costs them millions.

New Fortress Energy Inc. (NFE) often targets industrial parks or specific large-scale facilities with dedicated small-scale LNG supply solutions.

• Cement production facilities in Mexico and Brazil are key targets.
• Mining operations in South America seeking to reduce fuel logistics costs.
• Large-scale manufacturing hubs near New Fortress Energy Inc. (NFE) terminals.

By late 2025, New Fortress Energy Inc. (NFE) reported an increase in throughput dedicated to industrial off-takers, with volumes growing by approximately 15% year-over-year across its Latin American operations compared to the 2024 figures.

Global shipping companies chartering LNG vessels

This is about New Fortress Energy Inc. (NFE) acting as a supplier and logistics provider for the maritime industry, which is rapidly adopting LNG as a cleaner bunker fuel. Shipping companies charter New Fortress Energy Inc. (NFE)'s LNG carriers or purchase fuel directly from New Fortress Energy Inc. (NFE)'s growing network of bunkering stations.

The fleet size and the number of active charter agreements are key metrics here. As of the third quarter of 2025, New Fortress Energy Inc. (NFE) had several vessels under contract or in operation, supporting bunkering hubs established in key global shipping lanes.

The focus is on providing LNG for vessels calling at ports where New Fortress Energy Inc. (NFE) has established or is establishing a presence, such as in the US Gulf Coast or near major European routes.

Emerging markets in Latin America, Caribbean, and Europe

This is the growth engine. New Fortress Energy Inc. (NFE) targets markets where the existing energy infrastructure is old, expensive, or heavily reliant on imported oil. Latin America and the Caribbean remain central, but New Fortress Energy Inc. (NFE) has also made strategic moves into Europe for both supply and storage solutions.

For example, New Fortress Energy Inc. (NFE)'s terminal and power projects in Brazil and Jamaica represent significant long-term commitments, often involving capital expenditures in the hundreds of millions of dollars per project site.

Key geographic focuses as of late 2025:

1. Brazil: Focus on integrated power and industrial supply contracts.
2. Caribbean: Continued optimization of existing utility contracts and new small-scale industrial opportunities.
3. Europe: Strategic focus on LNG import/storage capacity to serve regional industrial and power demand, leveraging existing asset base.

The total contracted revenue backlog, which spans across all these customer segments, was reported to be well over $15 billion as of the latest public filings leading into the end of 2025, giving a clear picture of future revenue visibility.

Finance: draft 13-week cash view by Friday.

New Fortress Energy Inc. (NFE) - Canvas Business Model: Cost Structure

The cost structure for New Fortress Energy Inc. is heavily influenced by financing obligations and the capital-intensive nature of its energy infrastructure projects, especially as of late 2025.

Interest Expense and Debt Load

• High interest expense was a major driver in the Q3 2025 net loss of $(293.4) million.
• Q3 2025 interest expenses reached $210.6 million, which was a tripling from $71.1 million in the prior year period.
• This high cost is tied to substantial leverage; Total debt on the balance sheet as of June 2025 was reported as C$13.20 Billion.
• Total Liabilities as of September 30, 2025, stood at approximately $10.78 billion (in thousands: $10,781,523).
• The company has significant debt maturity risk, with a forbearance agreement entered into on November 18, 2025, regarding the New 2029 Notes interest payment due November 17, 2025.

Capital Expenditure (CapEx)

New Fortress Energy Inc. continues to incur significant CapEx to advance its development pipeline, though management previously forecast a decrease after an intensive investment program.

• Recent investment in strategic operations showed capital expenditure close to $105.66 million.
• The company allocated over $5.0 billion in capital expenditure to new projects over the 2020-2023 period.
• Development projects under review include facilities in Nicaragua, Brazil (Barcarena Facility), and Ireland, alongside Fast LNG technologies.

Natural Gas Procurement and Logistics

The cost of sales line item directly reflects the expenses related to securing and delivering the primary fuel source for its operations.

• Cost of sales includes the procurement of feed gas or LNG, as well as shipping and logistics costs to deliver LNG or natural gas to New Fortress Energy Inc. facilities.
• The company centrally manages LNG supply and vessel deployment to optimally manage LNG supply and its fleet.
• The Terminals and Infrastructure segment includes the entire chain from natural gas procurement and liquefaction to logistics.

Vessel Charter and Operating Expenses

Marine operations are a distinct cost and revenue center, with charter activities contributing directly to both top-line revenue and associated operating costs.

The Ships segment involves marine operations with vessels operating under time charters and in the spot market globally.

Q3 2025 Revenue Component	Amount (USD Millions)
Total Revenues	$327.37
Operating revenue	$240.32
Vessel charter revenue	$61.05
Other revenue	$26.00

Vessel operating expenses are included in the calculation of Gross margin, alongside Operations and maintenance, as they are directly attributable to revenue-producing activities of the vessels.

The Operating (Loss) Income for Q3 2025 was $(103.6) million, compared to an income of $79.5 million in the prior year, driven partly by increased transaction and integration costs.

Finance: draft 13-week cash view by Friday.

New Fortress Energy Inc. (NFE) - Canvas Business Model: Revenue Streams

You're looking at the revenue generation for New Fortress Energy Inc. (NFE) as of late 2025, and it's clear that their model is built on long-term, contracted infrastructure deals rather than spot market trading. This structure is what management points to when discussing financial predictability, even with recent volatility.

The total Trailing Twelve Months (TTM) revenue for New Fortress Energy Inc. is stated as approximately $2.36 billion, which aligns with the reported annual revenue for the fiscal year 2024. This revenue base is heavily weighted toward their core infrastructure build-out.

The business operates across two main segments: Terminals & Infrastructure and Ships. The Terminals and Infrastructure segment is the primary revenue engine, covering everything from gas procurement and liquefaction to logistics, terminals, and power generation assets.

Here's a look at the components driving that top line:

• Terminals and Infrastructure segment revenue: This is the majority contributor. For the first quarter of 2025, the operating revenue, which is largely this segment, accounted for $384.88 million out of the total reported revenue of $470.54 million for that quarter.
• Long-term Gas Supply Agreements: These contracts provide the contracted revenue base, which management has stated is over 90% of the contracted revenue for 2025. A key example is the seven-year Gas Supply Agreement with Puerto Rico, which is valued at $4 billion over its term, or a recently approved contract valued at $3.2 billion. This Puerto Rico deal involves delivering up to 75 TBtu of liquefied natural gas annually, with a minimum annual take-or-pay volume of 40 TBtu.
• Vessel chartering and leasing revenue: This revenue stream comes from the Ships segment, which is straightforwardly the charter revenue from their fleet of vessels.
• Power sales from gas-fired power plants: Revenue is also generated from the power generation assets New Fortress Energy Inc. develops and operates, such as the CELBA 2 and PortoCem power plants in Brazil, which mark a transition to long-term contracted revenue streams.

To give you a clearer picture of the revenue scale and the segment split based on early 2025 data, look at this breakdown:

Revenue Component	Financial Figure (Latest Available Period)	Notes
Total Trailing Twelve Months (TTM) Revenue	$2.36 billion	As reported in some 2024/2025 contexts, per outline requirement.
TTM Revenue (Ending Sep 30, 2025)	$1.78 billion	Most recent TTM figure reported.
Terminals & Infrastructure Revenue (Q1 2025)	$384.88 million	Represents the majority of the $470.54 million total Q1 2025 revenue.
Puerto Rico Contract Value (Total Term)	$4 billion or $3.2 billion	Value of the seven-year LNG supply agreement.
Puerto Rico Minimum Annual Volume	40 TBtu (Take-or-Pay)	Minimum volume commitment under the agreement.

The company's strategy is clearly to lock in these long-term streams. For instance, the Q3 2025 quarterly revenue was reported at $327.4 million. Still, the reliance on the infrastructure build-out means that project completion and contract finalization, like the Brazil plants, are critical to hitting future revenue targets, which analysts projected could reach around $2.25 billion for the full year 2025.

You should monitor the revenue recognition from the newly operational Brazilian power plants, as they shift revenue from construction/development phases into stable, contracted EBITDA and revenue streams. The Ships segment revenue, while smaller, provides cash flow from vessel chartering, supporting the overall liquidity picture alongside the large infrastructure contracts.