Wes Edens sees a partnership Between Norsk Hydro and New Fortress Through
Norsk Hydro has recently signed a memorandum of understanding with New Fortress energy Inc. the agreement between these two parties brings light and profit at the same time to both companies. AS NFE gets profits from supplying natural gas to Hydro, Hydro also sees a huge reduction in the use of fuel oil and reduction of emissions. According to Wes Edens, the CEO of NFE the long-term partnership will be of great growth to both companies.
Wes Edens’ partnership will see NFE supply natural gas to hydro’s subsidiary company for 15years. For the supply to go smoothly further developments will have to take place, which will see the supply start taking effect in 2022. As part of the advantages of the partnership, hydro’s emissions will drop by approximately 20% due to the change of using fuel oil to using natural gas
Under the leadership and direction of Wes Edens, Hydro gets to cut down on expenses on energy through the supply of affordable energy as well as clean energy, hence the reduction of emissions. With the change, Hydro is adapting the calcination development with the part of steam generation at the Alunorte Alumina refinery brought about by the change in energy use. The energy change will create a smooth transition to the company receiving the natural gas.
The delivery of at least a minimum supply of natural gas to the refinery will be facilitated by the company’s Barcerena LNG terminal that is in charge of receiving and regasification located in the para state of Brazil. Since the documentation is yet to be finalized both parties have to work hard in making sure that the agreement is honoured. The implementation of the anticipated terminal for the supply of natural gas is expected to be completed in 2022.