NFE - New Fortress Energy to supply nat gas to Norsk Hydro's Alunorte refinery

New Fortress Energy (NFE) says it signed a memorandum of understanding with Norsk Hydro (NHYDY) to supply natural gas to the Alunorte Alumina Refinery in Brazil for 15 years.New Fortress would deliver natural gas to the refinery from its Barcarena LNG receiving and regasification terminal in Brazil's Pará state, which is expected to be completed and ready to supply natural gas in 2022.Norsk Hydro is converting the calcination process and part of the steam generation at Alunorte from fuel oil to natural gas, which is expected to cut emissions by 20%.New Fortress also says it completed its acquisitions of Hygo Energy Transition, a 50-50 joint venture between Golar LNG Ltd. (GLNG) and Stonepeak Infrastructure Fund, and all outstanding common units of Golar LNG Partners (GMLP).Stifel recently upgraded New Fortress shares to Buy, noting positive contracting momentum in various downstream projects including Mexico, Brazil and Ireland.

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New Fortress Energy to supply nat gas to Norsk Hydro's Alunorte refinery