New Fortress Energy seeks leading LNG-to-power position with Hygo/Golar acquisitions

On 13 January 2021, New Fortress Energy announced it will acquire Hygo Energy Transition (formerly Golar Power) and Golar LNG Partners for ~US$5.1 billion. The deal has many compelling synergies. The two companies share a vision and a blueprint for growth in LNG-to-power and small-scale LNG value chains. For NFE the deal provides a step-up in terms of its global reach, assets and capabilities. Hygo offers a rich seam of development opportunities in Brazil. While Golar’s portfolio of floating regasification and storage units (FSRUs) could give it a competitive edge in diversifying into new markets. The LNG ships offer improved operational efficiency and flexibility. Read our Insight for analysis of the strategic drivers for the deal, the shipping assets and their employment, the project pipeline in Brazil, and Golar LNG’s future direction as an FLNG pure play.