San Juan, PR – July 11, 2025 – The Financial Oversight and Management Board for Puerto Rico today issued the following statement:
On May 3, 2018, the Puerto Rico Ports Authority and NF Energía, LLC executed a lease agreement which grants certain rights to NFE over specific spaces at the Puerto Nuevo Port in San Juan, where it has built gas importing and handling facilities for its use and operation, subject to certain rights reserved to the Puerto Rico Electric Power Authority (PREPA).
Puerto Rico’s Energy Czar Josue Colón said and was quoted as saying in various media that the Oversight Board approved this 2018 contract under its contract review policy. That statement is incorrect. As stated in the Oversight Board’s July 9, 2025, letter to Mr. Colón, this contract was never submitted to the Oversight Board for review and approval.