Caribbean & Central America - May 2025

Excelerate Energy of Texas, a liquid natural gas (LNG) producer, announced in April that it had agreed to pay US$1.05bn to acquire the Jamaican assets of New Fortress Energy.

The transaction means that Excelerate is acquiring the Montego Bay LNG Terminal, the Old Harbour LNG terminal, and a 150MW combined heat and power co-generation plant (CHP) located in Clarendon. Excelerate said the acquisition complemented its existing operations in Jamaica and offered “future growth opportunities as natural gas becomes an increasingly essential part of Jamaica’s energy mix”. The Texas company said its intention is to expand the Clarendon CHP plant, increase bunkering services, and gain new LNG customers within Jamaica’s existing industrial base.