(Bloomberg) -- Vitol Group and Glencore Plc. are considering acquiring New Fortress Energy Inc.’s Jamaican LNG assets, according to people familiar with the matter.
New Fortress, which has faced major project delays and recently refinanced more than $2 billion in debt, has hired Lazard Inc. and Intrepid Financial Partners LLC to explore divestment of some of its LNG operations. The assets on the auction block include gas-import terminals in Jamaica, Puerto Rico and Brazil, as well as a floating project known as Fast LNG.
Vitol’s and Glencore’s interests are primarily in the Jamaican facilities, according to the people, who asked not to be named because the information is private.
Spokespeople for New Fortress, Glencore, and Vitol declined to comment. New Fortress said last month that it’s seeking strategic partners for one or more of its businesses.
Vitol-backed VTTI completed a deal for 70% of an LNG import facility in Italy earlier this week. Meanwhile, Glencore-backed Century Aluminum Co. owns a 55% stake in alumina refiner Jamalco, one of New Fortress’ customers in Jamaica.
--With assistance from Reshmi Basu.
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