Mission Statement, Vision, & Core Values (2024) of New Fortress Energy Inc. (NFE).

An Overview of New Fortress Energy Inc. (NFE)

General Summary of New Fortress Energy Inc. (NFE)

New Fortress Energy Inc. (NFE), founded in 2014 and headquartered in New York, is a global energy infrastructure company focused on providing reliable and affordable energy solutions. The company operates across several countries, including the United States, Jamaica, Brazil, and Mexico, and specializes in natural gas and liquefied natural gas (LNG) infrastructure, logistics, and power generation. NFE's operations include liquefaction, regasification, and power generation, with a strategic focus on addressing energy poverty and facilitating the transition to cleaner energy sources.

As of 2024, NFE continues to expand its portfolio, which includes:

• Liquefaction facilities
• Regasification terminals
• Power generation assets
• Marine operations with vessels operating under time charters and in the spot market

In the latest financial reports, NFE reported total revenues of $1.118 billion for the six months ended June 30, 2024.

Company's Financial Performance in the Latest Financial Reports

For the six months ended June 30, 2024, New Fortress Energy Inc. reported the following financial highlights:

NFE's total revenues for the first half of 2024 were slightly down compared to the same period in 2023, primarily due to fluctuations in LNG pricing and lower cargo sale revenue. The company reported a net loss of $(30.19 million) compared to a net income of $271.67 million in the previous year, indicating significant challenges in the current market environment.

The company achieved an operating income of $228.83 million for the first half of 2024, down from $458.19 million in 2023, reflecting increased operational costs and lower volumes delivered.

Introduction to New Fortress Energy as a Leading Company in the Industry

New Fortress Energy Inc. positions itself as a leader in the global energy infrastructure sector, with a commitment to enhancing energy accessibility and sustainability. The company's strategic initiatives focus on expanding its LNG capabilities and ensuring reliable energy supply in underserved markets. NFE's innovative approach includes developing Fast LNG units, which are designed to rapidly deploy LNG infrastructure in emerging markets.

As of 2024, NFE's market capitalization is approximately $2.05 billion, reflecting its significant role in the energy landscape. With continued investments in infrastructure and technology, NFE aims to solidify its standing as a key player in the transition to cleaner energy sources, emphasizing its commitment to operational excellence and customer satisfaction.

Mission Statement of New Fortress Energy Inc. (NFE)

Company's Mission Statement Overview

The mission statement of New Fortress Energy Inc. (NFE) serves as a guiding framework for the company’s strategic direction and long-term objectives. It emphasizes the commitment to provide reliable, affordable, and clean energy solutions while addressing energy poverty globally. The mission reflects NFE's dedication to fostering sustainable energy practices and enhancing energy access in underserved markets.

Core Component 1: Reliable Energy Supply

NFE is dedicated to ensuring a dependable energy supply through its extensive infrastructure, which includes liquefaction, regasification, and power generation facilities. As of June 30, 2024, NFE operates multiple facilities across the U.S., Jamaica, Brazil, and Mexico, with a total liquefaction capacity of approximately 8,300 MMBtu of LNG per day from its Miami Facility alone.

The company has secured binding contracts for LNG volumes from two separate U.S. LNG facilities, each with a 20-year term, expected to commence in 2027. This strategic positioning aims to satisfy 100% of the expected committed volumes for its downstream terminals.

Core Component 2: Affordability

NFE focuses on providing cost-effective energy solutions by leveraging its Fast LNG technology, which is projected to significantly reduce the cost of LNG supply. The estimated cost for fully completed Fast LNG units ranges from $1.0 billion to $1.6 billion per unit.

As part of its commitment to affordability, NFE aims to mitigate exposure to price volatility in natural gas and LNG markets by structuring its supply contracts based on the Henry Hub index. In 2022 and 2023, NFE’s revenue benefited from selling cargos into the global LNG market, showcasing its ability to maintain competitive pricing.

Core Component 3: Clean Energy Transition

NFE is actively engaged in the transition to clean energy by investing in infrastructure that supports LNG as a cleaner alternative to traditional fossil fuels. The company has been involved in projects that contribute to reducing carbon emissions and enhancing energy efficiency.

As of 2024, NFE has committed capital expenditures amounting to approximately $1,446 million for the development of its projects, including the Barcarena Power Plant and the Fast LNG units. The company’s commitment to clean energy is further exemplified by its development of a liquefied natural gas receiving, transloading, and regasification facility in Puerto Sandino, Nicaragua, aimed at optimizing power generation and delivery to connected markets.

NFE's mission statement is underpinned by its operational strategy and financial performance, driving its commitment to reliability, affordability, and sustainability in energy supply.

Vision Statement of New Fortress Energy Inc. (NFE)

Vision Statement Overview

The vision statement of New Fortress Energy Inc. (NFE) as of 2024 focuses on becoming a leader in providing reliable, affordable, and clean energy solutions globally. This vision is supported by their commitment to innovative technologies and sustainable practices.

Global Energy Solutions

NFE aims to be at the forefront of the energy transition by addressing energy poverty and ensuring access to clean energy. Their operations span across various countries including the United States, Jamaica, Brazil, and Mexico, where they own and operate natural gas and liquefied natural gas (LNG) infrastructure.

Commitment to Sustainability

NFE's vision incorporates a strong commitment to sustainability, aiming to reduce carbon emissions and promote cleaner energy sources. They are actively developing their Fast LNG technology, which is designed to deliver LNG more efficiently and sustainably.

Innovative Technologies

The company is focusing on innovative solutions such as their Fast LNG units, which are projected to significantly enhance LNG production capabilities. The first Fast LNG facility began operations in July 2024, with plans for further expansions.

Strategic Partnerships

NFE is pursuing strategic partnerships to enhance their operational capabilities and market reach. These partnerships are crucial for expanding their LNG supply agreements and ensuring a steady flow of resources.

Financial Outlook

As of June 30, 2024, NFE reported total assets of $11.4 billion and total liabilities of $9.6 billion, reflecting their robust infrastructure investments and operational growth. They are also exploring additional financing options to support their growth strategy, including potential mergers and asset sales.

Core Values of New Fortress Energy Inc. (NFE)

Integrity

The core value of integrity is foundational for New Fortress Energy Inc. (NFE). This value emphasizes honesty, transparency, and accountability in all business dealings, fostering trust with stakeholders.

NFE demonstrates its commitment to integrity through rigorous compliance with regulatory standards and ethical business practices. The company has established a comprehensive compliance program that includes regular audits and training sessions for employees to ensure adherence to legal and ethical guidelines. In 2023, NFE successfully completed over 20 compliance audits across its operations, reinforcing its commitment to maintaining high ethical standards.

Innovation

Innovation is a key value at NFE, driving the development of advanced technologies and solutions in the energy sector. The company prioritizes the creation of sustainable energy solutions that meet the evolving needs of its customers.

In July 2024, NFE launched its first Fast LNG unit, which aims to revolutionize LNG production with a projected capacity of 1.4 million tons per annum (MTPA). This innovative approach is expected to reduce costs and improve efficiency in LNG delivery. Additionally, NFE has committed approximately $200 million to research and development initiatives aimed at enhancing its LNG technologies.

Sustainability

NFE is deeply committed to sustainability, focusing on reducing carbon emissions and promoting clean energy solutions. This commitment is evident in its strategic objectives and operational practices.

In 2024, NFE announced plans to invest $150 million in renewable energy projects, including solar and wind initiatives, to complement its LNG operations. Furthermore, the company has set a target to achieve a 50% reduction in greenhouse gas emissions by 2030 through the implementation of energy-efficient technologies and practices across its facilities.

Collaboration

Collaboration is vital for NFE as it seeks to build strong partnerships with stakeholders, including customers, suppliers, and local communities. This core value enhances the company's ability to deliver comprehensive energy solutions.

NFE has engaged in strategic partnerships with various governmental and non-governmental organizations to enhance its community engagement efforts. In 2024, NFE collaborated with the Puerto Rico Electric Power Authority (PREPA) to develop a gas sale agreement aimed at improving energy reliability on the island, providing up to 80 TBtu annually.

Excellence

NFE strives for excellence in all aspects of its operations, focusing on delivering high-quality services and products to its customers. This value is integral to the company’s mission and operational approach.

In the first half of 2024, NFE achieved a record operational efficiency rate of 95% across its LNG facilities. The company also received the “Best Energy Infrastructure Company” award from the International Energy Association for its commitment to operational excellence and customer satisfaction.