NFE shares surge 18.56% after-hours after securing 7-year Puerto Rico gas supply agreement approval.

New Fortress Energy (NFE) surged 18.56% 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 deal, securing the delivery of 75 TBtu of natural gas, supports Puerto Rico’s energy transition by providing reliable, lower-emission fuel to enhance grid stability and cleaner power generation. The agreement builds on NFE’s existing operations in Puerto Rico and underscores its role in advancing energy resilience. The news directly aligns with the stock’s upward movement, as the approval marks a strategic milestone for the company’s long-term supply commitments and reinforces its position in the global energy infrastructure market. Other recent news, including a credit rating upgrade and debt-related challenges, were either older or unrelated to the immediate price reaction.