FOMB Conditionally Approves LNG Contract With NFE (Nasdaq: NFE); MZLS Provides Legal and Regulatory Analysis

Puerto Rico’s Oversight Board conditionally approves PREPA’s LNG deal with NFE, adding supply safeguards and terminal-access review.

New Fortress Energy Inc (NYSE:NASDAQ: NFE)

WASHINGTON, DC, UNITED STATES, November 29, 2025 /EINPresswire.com/ -- The Financial Oversight and Management Board for Puerto Rico (FOMB) has issued conditional approval³ of the revised liquefied natural gas (LNG) supply agreement between the Puerto Rico Electric Power Authority (PREPA), the Public-Private Partnerships Authority (P3A), and NFEnergía LLC, an affiliate of New Fortress Energy Inc. (Nasdaq: NFE).

In its November 28, 2025 media release, the FOMB stated that the updated contract resolves nearly all deficiencies identified in previous versions and could result in more than $4 billion in fuel-cost savings over the term of the agreement. The approval is conditioned on several requirements, including execution of a bilateral tolling agreement with a qualified third-party LNG supplier and revisions to the LNG Tolling Term Sheet.

The FOMB also directed the Government to evaluate the Ports Authority lease agreement governing access to the Puerto Nuevo LNG terminal—an arrangement originally established when NFE invested more than $100 million to rehabilitate a non-operational facility. The Board noted that any modification of terminal access must be assessed within applicable legal and contractual frameworks.

Coverage by INDIARIO², a rapidly growing local digital newspaper, highlighted the Board’s dual emphasis on improved contractual safeguards and ongoing concerns regarding Puerto Rico’s reliance on a single LNG import point.

MZLS has published a full analysis of the decision and its implications for Puerto Rico’s energy sector, available here¹.

About MZLS

MZLS is a full-service law firm with offices in San Juan and Washington, D.C., advising clients across Puerto Rico’s energy, infrastructure, and regulatory landscape.

For more information about LNG procurement, energy regulatory matters, or contract strategy, please contact the MZLS Energy Practice at www.mzls.com
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Carmen A. Zayas
MZLS LLC
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¹ https://www.mzls.com/insights/oversight-board-conditionally-approves-lng-contract-with-nfe-calls-for-further-review-of-terminal-access-framework
² https://indiario.com/energia/junta-fiscal-aprueba-con-condicin-contrato-de-gas-natural
³ https://oversightboard.pr.gov/documents/