Puerto Rico’s energy czar has backed a controversial LNG deal, despite fears of monopolies and long-term fossil fuel dependence. (Bloomberg)
The details: Governor Jenniffer González-Colón called a proposed $20 billion long-term LNG contract (which would have New Fortress Energy supply the island with natural gas) critical for energy stability, though she noted she still has “reservations” given the project’s massive scale.
The Financial Oversight and Management Board has warned the contract could cement a near-monopoly for New Fortress—the company already controls one of the island’s few LNG import terminals.