- Apollo will own an 80 percent stake in the JV while NFE will own the remaining 20 percent
- The deal is expected to close in the third quarter of this year
- As of March 31, 2022, Apollo had approximately $513 billion of assets under management
New Fortress Energy Inc and Apollo have agreed to form a new joint venture for about $2 billion. According to terms of the deal, NFE will sell 11 LNG infrastructure vessels to the JV. Apollo will own an 80 percent stake in the JV while NFE will own the remaining 20 percent.
The global marine infrastruture platform will provide critical infrastructure for the delivery, storage, and regasification of liquefied natural gas to power countries around the world. The platform will also seek growth opportunities in support of both NFE and third parties to support the energy transition and bolster energy security globally.
“Together with Apollo, we are creating a leading LNG marine infrastructure platform to help accelerate the energy transition while freeing up capital to continue to invest into our Fast LNG and downstream LNG projects worldwide,” said Wes Edens, chairman and CEO of New Fortress Energy, on the JV. “We are pleased to be partnering with Apollo in creating a maritime infrastructure company that will help support NFE’s growing LNG infrastructure needs going forward.”
The deal is expected to close in the third quarter of this year.
New Fortress Energy Inc is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas infrastructure, ships and logistics assets to rapidly deliver turnkey energy solutions to global markets.
As of March 31, 2022, Apollo had approximately $513 billion of assets under management.