The MoU was signed in Luanda by New Fortress Chairman and CEO Wes Edens and Hon. Diamantino Azeved, Minister of Mineral Resources and Petroleum. The President of Angola also approved the deal made.
liquefied natural gas plant
Under the agreement, New Fortress would fund, build, and operate an LNG import and regasification terminal and supply gas to power industrial facilities across Angola and work with the Ministry of Mineral Resources and Petroleum to explore the development of additional indigenous natural gas resources and a domestic liquefaction facility.
According to New Fortress Chairman and CEO Wes Edens, the partnership will provide cleaner, affordable natural gas to Angola, creating significant economic and environmental benefits.
“With Angolas transition to a gas economy, significantly lower fuel costs will encourage further investment and directly benefit Angolans. We commend President Lourenço and the government of Angola for their leadership and look forward to building this historic partnership,” said the CEO.
“The signing of this MOU is the first step in moving Angola to become a gas economy. This unprecedented event involves the approval of three ministries and is supported by the President of Angola to move the country in a new direction,” acknowledged Hon. Diamantino Azeved, Minister of Mineral Resources and Petroleum.