New Fortress Energy shares surge 22.95% premarket after Puerto Rico approves $3.2B LNG supply deal.

New Fortress Energy (NASDAQ:NFE) surged 23.0% in premarket trading following conditional approval from Puerto Rico regulators for a $3.2 billion, seven-year liquefied natural gas (LNG) supply deal. The Financial Oversight and Management Board for Puerto Rico greenlit the agreement, contingent on securing a third-party supplier for LNG and revising the tolling term sheet. This development marks a critical expansion for the company, which faces liquidity challenges and has been under scrutiny from creditors. The stock’s sharp rise reflects investor optimism that the long-term contract could stabilize the firm’s financial outlook, despite the need for further regulatory and contractual steps to finalize the deal.