New Fortress Energy, the New York-based energy company led by its CEO Wes Edens has signed a memorandum of understanding with the Ministry of Oil, Metal and, Energy of Mauritania to produce LNG, gas power and, blue ammonia from the country’s offshore Banda Oil Field within the next two years. 

The offshore Banda oil field in Mauritania has the potential of holding 1.2 cubic feet of gas. The field was discovered by the Australian energy company, Woodside in the year 2002. The British company, Tullow Oil made an appraisal of the oil field and formulated plans to produce oil from the oil field commercially in the year 2012. Disputes between the government of Mauritania and Tullow Oil delayed production from the oil field. Some of the oil wells in Banda will be plugged and abandoned by the Qatar-based Maersk Oil with the help of the Norwegian Island Drilling company. 

New Fortress Energy led by Wes Edens will use its innovative Fast LNG technology to produce LNG from the gas reserves in the Banda oil field. The LNG produced will help supply energy for local markets in Mauritania and the country will export LNG. Wes Edens plans to use New Fortress Energy’s innovative fast liquefiers to provide clean and green fuels to Mauritania. Wes Edens believes that LNG production will help Mauritania get clean and affordable fuel that is essential for the economic and industrial growth of the country. New Fortress Energy will put up a plant that will produce 1.4 million tonnes of energy in a year. Wes Edens hopes that the cost of LNG will be $3-4 per mmBtu. The company hopes to start production of LNG within the next 20 months. 

New Fortress Energy led by its CEO Wes Edens aims to accelerate the industrial and economic growth of Mauritania by producing LNG from its offshore Banda oil field before the year 2024.