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FOMB reviews long‑term New Fortress LNG deal amid concerns about exclusivity and noncompetitive terms
Summary
Members pressed the Financial Oversight and Management Board about a long‑term liquefied natural gas contract with New Fortress Energy, and the board said it is still reviewing the agreement and flagged possible exclusivity and take‑or‑pay provisions that could limit competition and raise costs.
Members of the House Subcommittee on Indian and Insular Affairs questioned the Financial Oversight and Management Board (FOMB) about a proposed multi‑year liquefied natural gas (LNG) supply contract with New Fortress Energy and a unit referred to in testimony as Genera, focusing on whether the agreement was negotiated competitively and whether it creates exclusivity that could raise costs for Puerto Rico.
Representative Suzanne Bonamici/Representative Deanne (?: transcript participant Miss Hoyle) raised a report that New Fortress…
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