New Fortress Energy LLC

Critical Materials & Supply Chain▲2

Norsk Hydro's Alunorte Secures Gas Terminal Access to Boost Alumina Output

Norsk Hydro's majority-owned alumina refinery Alunorte has reached a deal with gas supplier CELBA, part of New Fortress Energy, for temporary terminal access to continue receiving natural gas for alumina production. Alunorte has begun increasing alumina production following the agreement. Lost output during the period of reduced production is estimated at 100,000 to 120,000 tons. The company said the potential third-quarter 2026 financial impact for Bauxite & Alumina from reduced production and purchasing gas above contract price may be 75 to 100 million dollars. Earlier, there was a disruption to the supply of natural gas from CELBA.

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Energy Transition & Power Demand▼2

ONEOK Is the Better Energy Stock to Buy in 2026 Over Restructuring New Fortress Energy

ONEOK is the better energy stock to buy in 2026 compared to New Fortress Energy, which is undergoing a major restructuring. New Fortress Energy reported a net loss of nearly $1.8 billion and negative free cash flow of $1.49 billion in fiscal 2025, while ONEOK posted net income of nearly $3.4 billion and free cash flow of nearly $2.5 billion. New Fortress Energy is pursuing a U.K. restructuring that would cut its debt by $5.1 billion to $528 million but dilute existing shareholders to about 35% of the new entity, with the deal expected to close by the third quarter. ONEOK benefits from long-term fee-based contracts, rising demand from AI data centers and LNG exports, and is projected to generate about $38.6 billion in revenue and $3.6 billion in net income in fiscal 2026. While New Fortress Energy trades at a much lower price-to-sales ratio of 0.1 times versus ONEOK’s 1.6 times, that discount reflects its significant financial distress and restructuring risks.

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New Fortress Energy wins UK court approval for subsidiary restructuring plan

New Fortress Energy announced that the UK restructuring plan for two of its subsidiaries was approved at a hearing in the High Court of Justice of England and Wales, advancing efforts to reorganize debt obligations. The company has been coping with a liquidity crunch, mounting debt, and missed interest payments after failing to secure long-term LNG supply for power plants in Latin America due to its lack of an investment-grade credit rating. A hearing before the US Bankruptcy Court of the Southern District of New York to confirm recognition of the UK restructuring plan is scheduled for June 26.

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