The U.S. Department of Energy has granted New Fortress Energy a five-year LNG exports permit for its Altamira LNG project off Mexico’s Gulf Coast, marking the first approval since the agency’s January pause on new export authorizations to non-FTA countries.
The approval stops short of Altamira’s targeted 2050 extension, with the DOE citing uncertainty about long-term global natural gas demand and energy security.
The project has potential future extensions contingent on market conditions. A new approval for exports is a promising sign after the DOE’s pause on new permits left U.S. LNG export projects with widespread uncertainty.
Source: Gelber & Associates
