New Fortress Energy shares surge 20.71% after-hours after securing 7-year Puerto Rico gas supply agreement approval.

New Fortress Energy Inc. surged 20.71% in after-hours trading following the announcement that it received final approval for a 7-year Gas Supply Agreement with Puerto Rico’s Financial Oversight and Management Board. The contract, securing the delivery of 75 TBtu of natural gas, supports the island’s energy transition by providing reliable, lower-emission fuel to enhance grid stability and cleaner power generation. This long-term agreement builds on NFE’s existing infrastructure in Puerto Rico and underscores its role in advancing energy resilience. The approval, highlighted in multiple news reports, directly aligns with the stock’s sharp after-hours increase, reflecting investor optimism about the company’s strategic positioning in the region and its ability to execute on key infrastructure projects.