New Fortress Leases Turbines to U.S. Partner
The five-year lease covers ten mobile turbines capable of generating up to 300 MW, while its FLNG 1 facility remains offline.
Updated on Nov. 4, 2026 in Oil and Gas
Live Poll
Do you expect your electricity bills to rise over the next year?
New Fortress Energy signed a five-year lease for ten mobile turbines with an undisclosed U.S.-based investment-grade company. The turbines can generate up to 300 MW of power.
Why it matters
The lease provides the company with a new revenue stream and is expected to enhance its earnings and liquidity profile. It comes as the FLNG 1 unit remains out of service due to a mechanical issue with its gas turbine offshore Altamira.
The lease covers ten mobile turbines capable of up to 300 MW over five years. The lessee's identity and the financial terms of the agreement have not been disclosed.
The players
New Fortress Energy
A U.S.-based liquefied natural gas company that operates floating LNG facilities and is building its second installation, FLNG 2.
The details
New Fortress Energy agreed to lease ten mobile turbines to an undisclosed U.S. investment-grade company, with deliveries to begin in the fourth quarter of 2026. The company's FLNG 1 Fast LNG facility, made up of three repurposed jack-up rigs off Altamira, went offline due to a mechanical issue with its gas turbine.
Timeline
Fourth quarter 2026: initial turbine deliveries begin and FLNG 1 is targeted to return to service.
First quarter 2027: final turbine deliveries are completed.
First half of 2026: construction of the FLNG 2 installation is scheduled to be completed.
Market Landscape
New Fortress Energy's five-year approval to export LNG to non-FTA countries from the U.S. Department of Energy positions it to supply international buyers beyond free-trade partners. The turbine lease and the FLNG 2 financing extend that export strategy into new capacity.
The turbine lease adds capacity that could support power-dependent operations for the U.S. lessee, though its identity remains undisclosed. Readers tracking the company should watch for the FLNG 1 return to service in the fourth quarter of 2026.
The takeaway
Lease agreements for mobile power generation can provide near-term revenue while a primary production asset is out of service. Tracking delivery schedules and the restart of offline facilities offers a clear view of execution progress.
What happens next
Initial turbine deliveries are scheduled to begin in the fourth quarter of 2026, with final deliveries completed in the first quarter of 2027, and FLNG 1 is targeted to return to service in the same fourth quarter of 2026.
Further reading
Explore more Oil and Gas coverage for context on liquefied natural gas operations and export markets.
Source note: This article includes information reported by Offshore-energy.
Live Poll
Do you expect your electricity bills to rise over the next year?
