New Fortress Energy Signs Lease for Brazil TGS LNG Terminal

New Fortress Energy has signed a long-term lease for its TGS LNG import terminal in Brazil, marking a key step toward commercialization and future LNG-to-power growth.

(P&GJ) — New Fortress Energy has signed a long-term lease and capacity agreement for its Terminal de Gás Sul (TGS) LNG import terminal in Santa Catarina, Brazil, marking a key step in bringing the facility into commercial operation.

The agreement, expected to begin in August 2026, is projected to generate about $50 million in annual EBITDA by 2027, positioning the terminal as a contracted revenue-generating asset.

TGS is designed to supply natural gas for power generation in southern Brazil, where access to pipeline gas is limited and demand for reliable fuel supply continues to grow.

“This agreement delivers immediate, contracted cash flow and highlights the strategic value of our infrastructure platform in Brazil,” said Leandro Cunha, Managing Director of New Fortress Energy Brazil. “TGS is now positioned as a stable, cash-generating asset with meaningful long-term upside.”

Beyond near-term revenues, the terminal is expected to support New Fortress Energy’s LNG-to-power strategy in the region, including supplying the UTE Lins 2 power project, which is slated to begin operations in 2031.

The company said the terminal could also support additional demand from power generators and industrial users as utilization expands over time.