New Fortress Energy Inc. announced it has executed definitive commercial terms with a subsidiary of Norsk Hydro ASA to supply natural gas to the Alunorte Alumina Refinery in Pará, Brazil for a term of 15 years. Hydro is converting the calcination process and part of the steam generation at the Alunorte Alumina Refinery from fuel oil to natural gas. This initiative is part of Hydro's climate strategy and its global commitment to reduce its greenhouse gas emissions by 30% by 2030. The fuel switch will reduce the refinery’s annual CO2 emissions by 600,000 tonnes. NFE expects to supply Hydro with 29.5 TBtu of natural gas annually (equivalent to 1 million gallons of LNG per day) to the refinery from NFE’s Barcarena LNG receiving and regasification terminal located in the state of Pará, Brazil. The availability of natural gas is important for the industrial development in the Pará region and enables the replacement of more carbon-intensive fuels to reduce environmental impact. The Alunorte refinery will be an important gas consumer in Pará and therefore an enabler for establishing LNG supply in the Pará state. NFE’s Barcarena terminal is anticipated to be completed and ready to supply natural gas in early First Quarter of 2022 and the Alunorte refinery is expected to complete the conversion to natural gas by First Quarter of 2023. The agreement is subject to the execution of definitive agreements, final build decision, and approval by Hydro.