The official in charge of addressing Puerto Rico’s power crisis is pushing to move forward with New Fortress Energy Inc.’s proposed $20 billion contract to supply the island with natural gas, saying a federal watchdog’s concerns about the deal are overwrought.
Josue Colón, Puerto Rico’s energy czar, said the Financial Oversight and Management Board’s worry that the 15-year contract would give New Fortress Energy a near-monopoly ignores the fact that the company already controls one of the island’s few liquefied natural gas import terminals.
Josue Colon
Photographer: GDA/AP Photo
“That exclusivity was created under a contract that the oversight board approved in 2018 …