NFE - Fluor awarded contract for New Fortress Energy's Fast LNG project

Fluor ( NYSE: FLR ) said Monday it was awarded a full notice-to-proceed contract from New Fortress Energy ( NFE ) for the 1.4M metric tons/year NFE Fast LNG 2 gas treating and liquefaction project.

NFE Fast LNG 2 is the second offshore modular mid-scale liquefied natural gas plant that New Fortress has awarded to Fluor this year; NFE Fast LNG 1 project was awarded in Q1 and is a similar modular mid-scale design being installed on repurposed drilling jack-up rigs.

Fluor ( FLR ) said it will book the undisclosed reimbursable contract value in Q2.

Fluor ( FLR ) has done a good job recovering from the pandemic, but the stock still trades north of 20x forward earnings even after its recent decline, The Insiders Forum writes in an analysis published on Seeking Alpha .

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