Producer
New Fortress Energy Inc.
New Fortress Energy (Nasdaq: NFE; New York, NY; ~$1.5B revenue) is a global LNG infrastructure company that acquired the Everett LNG terminal (Everett, MA) from Eversource Energy in 2020. The Everett Marine Terminal — also known historically as the Distrigas terminal — is the only active LNG import terminal on the US East Coast, operating since 1971. New Fortress Energy operates the terminal to receive LNG tankers from Trinidad, Algeria, and other sources, and then delivers LNG and natural gas by pipeline to New England utilities. The Everett terminal's single marine berth can receive only one LNG tanker at a time; scheduled tanker deliveries (typically weekly during winter) are the sole LNG import pathway for New England when pipeline capacity is constrained. New Fortress Energy also develops LNG infrastructure in Latin America, Jamaica, Puerto Rico, and other markets.
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Everett LNG Import Terminal (New England)
35%Latin America & Caribbean LNG Infrastructure
40%FLNG & Offshore LNG Production
15%Shipping & Logistics
10%
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Origin2023
The Everett Marine Terminal that New Fortress Energy now owns was built in 1971 in Everett, Massachusetts as the Distrigas terminal — the first dedicated LNG import terminal in the United States and the receiving point for the first commercial LNG trade in the Western Hemisphere. Algeria's state gas company Sonatrach signed a long-term contract to ship liquefied natural gas from its Arzew facility to Everett, beginning in 1971, specifically to address New England's chronic winter gas shortages when pipeline imports from Texas and Louisiana proved insufficient for the region's heating demand. The Algeria-to-Massachusetts LNG trade in 1971 was the first instance in US energy history where the nation imported LNG from a foreign source for domestic consumption — a foreshadowing of the LNG import infrastructure the US would eventually build across the Gulf Coast (and then supersede with shale gas export). The terminal operated under various owners (Distrigas, GDF Suez, Eversource) for 49 years before Wes Edens's New Fortress Energy acquired it in 2020. New England's 50-year dependence on Algerian and now Trinidad LNG through a single-berth terminal in a Boston suburb is the structural vulnerability that every New England winter energy shortage traces to.
New Fortress Energy Inc. ↗Incident2021
On February 12, 2021 — during a severe winter storm that created the most acute gas supply emergency in New England history — an LNG tanker delivery to the Everett Marine Terminal was delayed by weather, creating a multi-day gap in LNG supply at a time when New England pipeline gas imports were already at maximum capacity. ISO New England issued an Energy Emergency Alert (EEA Level 2), and National Grid US implemented conservation voltage reduction in parts of Massachusetts. The event exposed the single-berth limitation at Everett: the terminal cannot receive multiple tankers simultaneously, and a tanker scheduling gap during a polar vortex directly threatens grid stability. FERC subsequently cited the Everett terminal's operating constraints in its annual Winter Energy Market Assessment as a systemic reliability concern for the New England region.
Federal Energy Regulatory Commission ↗