12:02 PM EDT, 09/03/2024 (MT Newswires) -- New Fortress Energy ( NFE ) said Tuesday it received authorization from the US Department of Energy to export up to about 1.4 million tons per annum of liquified natural gas to non-free trade agreement countries.

The authorization is for Fast LNG 1 asset in offshore Altamira, Mexico, for five years, according to the company.

New Fortress said its Fast LNG 1 asset can now export LNG to markets and customers worldwide. It already received Free Trade Agreement authorization from the DOE.

Shares of the company were down more than 7% in recent trading.

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