New Fortress Finds Way Around Jones Act – Ship US LNG via Mexico
You have to admire Wes Edens, CEO of New Fortress Energy. He’s figured out a way to get around the idiotic prohibition on shipping U.S. LNG from one U.S. port to another. The Jones Act, passed more than 100 years ago, aimed to boost American shipbuilding. The Act requires any cargo ship moving from one U.S. port to another to be built in the U.S., owned by a U.S. company, and crewed with U.S. citizens. There are precisely zero large LNG cargo carriers that meet those criteria. Big LNG carriers are built in other counties where it’s cheaper to build them. Edens figured out how to get around the Jones Act using a floating LNG (FLNG) platform just off the coast of Mexico.
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