New Fortress Energy (NFE) 10-Q 13 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 08, 2019
Entity Information [Line Items]
Entity Registrant Name	New Fortress Energy LLC
Entity Central Index Key	0001749723
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		20,872,986
Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		147,058,824

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 200,306	$ 78,301
Restricted cash	19,252	30
Receivables, net of allowances of $0 and $257, respectively	43,987	28,530
Finance leases, net	1,025	943
Inventory	19,623	15,959
Prepaid expenses and other current assets	35,231	30,017
Total current assets	319,424	153,780
Investment in equity securities	2,854	3,656
Restricted cash	38,460	22,522
Construction in progress	324,828	254,700
Property, plant and equipment, net	191,257	94,040
Finance leases, net	91,665	92,207
Deferred tax asset, net	20	185
Intangibles, net	42,008	43,057
Other non-current assets	46,361	35,255
Total assets	1,056,877	699,402
Current liabilities
Term loan facility	490,523	272,192
Accounts payable	16,282	43,177
Accrued liabilities	42,072	67,512
Due to affiliates	6,329	4,481
Other current liabilities	19,196	17,393
Total current liabilities	574,402	404,755
Deferred tax liability, net	214	0
Other long-term liabilities	15,121	12,000
Total liabilities	589,737	416,755
Commitments and contingences (Note 17)
Stockholders' equity
Members' capital, no par value, 500,000,000 shares authorized, 67,983,095 shares issued and outstanding as of December 31, 2018		426,741
Accumulated deficit	(31,757)	(158,423)
Accumulated other comprehensive (loss)	0	(11)
Total stockholders' equity attributable to NFE	79,479
Total stockholders' equity attributable to NFE		268,307
Non-controlling interest	387,661
Non-controlling interest		14,340
Total stockholders' equity	467,140	282,647
Total stockholders' equity		282,647
Total liabilities and stockholders' equity	1,056,877	$ 699,402
Class A [Member]
Stockholders' equity
Common stock	111,236
Class B [Member]
Stockholders' equity
Common stock	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets
Allowances for receivables	$ 0	$ 257
Stockholders' equity
Members' capital, par value (in dollars per share)		$ 0
Members' capital, shares authorized (in shares)		500,000,000
Members' capital, shares issued (in shares)		67,983,095
Members' capital, shares outstanding (in shares)		67,983,095
Class A [Member]
Stockholders' equity
Common stock, shares issued (in shares)	20,837,272	0
Common stock, shares outstanding (in shares)	20,837,272	0
Class B [Member]
Stockholders' equity
Common stock, shares issued (in shares)	147,058,824	0
Common stock, shares outstanding (in shares)	147,058,824	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues
Operating revenue	$ 31,738	$ 22,653	$ 57,876	$ 44,916
Other revenue	8,028	4,146	11,841	7,592
Total revenues	39,766	26,799	69,717	52,508
Operating expenses
Cost of sales	44,043	25,766	77,392	46,531
Operations and maintenance	5,403	1,907	9,902	3,751
Selling, general and administrative	32,169	15,535	81,918	27,404
Depreciation and amortization	2,110	732	3,801	1,428
Total operating expenses	83,725	43,940	173,013	79,114
Operating loss	(43,959)	(17,141)	(103,296)	(26,606)
Interest expense	6,199	1,603	9,483	3,206
Other expense (income), net	920	(199)	(1,655)	(167)
Loss before taxes	(51,078)	(18,545)	(111,124)	(29,645)
Tax expense	155	280	401	93
Net loss	(51,233)	(18,825)	(111,525)	(29,738)
Net loss attributable to non-controlling interest	45,047	0	91,782	0
Net loss attributable to stockholders	$ (6,186)	(18,825)	$ (19,743)	(29,738)
Net loss per share - basic and diluted (in dollars per share)	$ (0.28)		$ (1.09)
Weighted average number of shares outstanding - basic and diluted (in shares)	22,114,002		18,154,939
Other comprehensive loss:
Net loss	$ (51,233)	(18,825)	$ (111,525)	(29,738)
Unrealized loss (gain) on available-for-sale investment	0	196	0	(733)
Comprehensive loss	(51,233)	(19,021)	(111,525)	(29,005)
Comprehensive loss attributable to non-controlling interest	45,047	0	91,782	0
Comprehensive loss attributable to stockholders	$ (6,186)	$ (19,021)	$ (19,743)	$ (29,005)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Members' Capital [Member]	Common Stock [Member]Class A [Member]	Common Stock [Member]Class B [Member]	Stock Subscription Receivable [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Non-controlling Interest [Member]	Total
Beginning balance at Dec. 31, 2017	$ 406,591	$ 0	$ 0	$ (50,000)	$ (80,347)	$ 2,666	$ 0	$ 278,910
Beginning balance (in shares) at Dec. 31, 2017	65,665,037	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(10,913)			(10,913)
Other comprehensive loss						929		929
Capital contributions	$ 20,150							20,150
Capital contributions (in shares)	665,843
Stock subscription receivable				50,000				50,000
Stock subscription receivable (in shares)	1,652,215
Ending balance at Mar. 31, 2018	$ 426,741	$ 0	$ 0	0	(91,260)	3,595	0	339,076
Ending balance (in shares) at Mar. 31, 2018	67,983,095	0	0
Beginning balance at Dec. 31, 2017	$ 406,591	$ 0	$ 0	(50,000)	(80,347)	2,666	0	278,910
Beginning balance (in shares) at Dec. 31, 2017	65,665,037	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss								(29,738)
Ending balance at Jun. 30, 2018	$ 426,741	$ 0	$ 0	0	(110,085)	3,399	0	320,055
Ending balance (in shares) at Jun. 30, 2018	67,983,095	0	0
Beginning balance at Mar. 31, 2018	$ 426,741	$ 0	$ 0	0	(91,260)	3,595	0	339,076
Beginning balance (in shares) at Mar. 31, 2018	67,983,095	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(18,825)		0	(18,825)
Other comprehensive loss						(196)		(196)
Ending balance at Jun. 30, 2018	$ 426,741	$ 0	$ 0	0	(110,085)	3,399	0	320,055
Ending balance (in shares) at Jun. 30, 2018	67,983,095	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activity prior to the IPO and related organizational transactions						11
Beginning balance at Dec. 31, 2018	$ 426,741	$ 0	$ 0	0	(158,423)	(11)	14,340	282,647
Beginning balance (in shares) at Dec. 31, 2018	67,983,095	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(7,923)		(91)	(8,003)
Beginning balance at Dec. 31, 2018	$ 426,741	$ 0	$ 0	0	(158,423)	(11)	14,340	282,647
Beginning balance (in shares) at Dec. 31, 2018	67,983,095	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss								(111,525)
Ending balance at Jun. 30, 2019	$ 0	$ 111,236	$ 0	0	(31,757)	0	387,661	467,140
Ending balance (in shares) at Jun. 30, 2019	0	20,837,272	147,058,824
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(5,645)		(46,644)	(52,289)
Issuance of Class A shares in the IPO, net of underwriting discount and offering costs		$ 32,136						268,010
Issuance of Class A shares in the IPO, net of underwriting discount and offering costs (in shares)		20,837,272
Issuance of Class A shares in the IPO, net of underwriting discount and offering costs (in shares)							235,874
Effects of the reorganization transactions	$ (426,741)	$ 51,092	$ 0		146,420	0	229,229	0
Effects of reorganization transactions (in shares)	(67,983,095)		147,058,824
Share-based compensation expense		19,037						19,037
Ending balance at Mar. 31, 2019	$ 0	$ 102,265	$ 0	0	(25,571)	0	432,708	509,402
Ending balance (in shares) at Mar. 31, 2019	0	20,837,272	147,058,824
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(6,186)		(45,047)	(51,233)
Share-based compensation expense		$ 8,971						8,971
Ending balance at Jun. 30, 2019	$ 0	$ 111,236	$ 0	$ 0	$ (31,757)	$ 0	$ 387,661	$ 467,140
Ending balance (in shares) at Jun. 30, 2019	0	20,837,272	147,058,824

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Feb. 04, 2019	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (8,003)	$ (51,233)	$ (18,825)	$ (10,913)	$ (111,525)	$ (29,738)
Adjustments for:
Amortization of deferred financing costs					2,589	339
Depreciation and amortization					4,106	1,767
Deferred taxes					379	32
Change in value of Investment in equity securities					802	0
Share-based compensation					28,008	0
Other					232	183
(Increase) in receivables					(15,211)	(5,268)
(Increase) in inventories					(3,664)	(5,841)
(Increase) Decrease in other assets					(6,865)	6,412
Increase in accounts payable/accrued liabilities					2,553	4,863
Increase (Decrease) in amounts due to affiliates					1,848	(1,051)
Increase in other liabilities					4,680	585
Net cash used in operating activities					(92,068)	(27,717)
Cash flows from investing activities
Capital expenditures					(232,348)	(76,446)
Principal payments received on finance lease, net					471	444
Net cash used in investing activities					(231,877)	(76,002)
Cash flows from financing activities
Proceeds from borrowings of debt					220,000	0
Payment of deferred financing costs					(4,400)	(388)
Repayment of debt					(2,500)	(2,914)
Proceeds from IPO					274,948	0
Payment of offering costs					(6,938)	0
Capital contributed from Members					0	20,150
Collection of subscription receivable					0	50,000
Net cash provided by financing activities					481,110	66,848
Net increase (decrease) in cash, cash equivalents and restricted cash					157,165	(36,871)
Cash, cash equivalents and restricted cash - beginning of period	$ 100,853			$ 118,331	100,853	118,331	$ 118,331
Cash, cash equivalents and restricted cash - end of period		$ 258,018	$ 81,460		258,018	81,460	$ 100,853
Supplemental disclosure of non-cash investing and financing activities:
Changes in accrued construction in progress costs and property, plant and equipment					$ (54,888)	$ 5,443

Organization

Organization	6 Months Ended
	Jun. 30, 2019
Organization [Abstract]
Organization	1. Organization New Fortress Energy LLC (“NFE,” together with its subsidiaries, the “Company”) is a Delaware limited liability company formed by New Fortress Energy Holdings LLC (“New Fortress Energy Holdings”) on August 6, 2018. The Company is engaged in providing energy and logistical services to end-users worldwide seeking to convert their operating assets from diesel or heavy fuel oil to LNG. The Company currently sources LNG from a combination of its own liquefaction facility in Miami, Florida and purchases on the open market. The Company has liquefaction and regasification operations in the United States and Jamaica. The Company manages, analyzes and reports on its business and results of operations on the basis of one operating segment. The chief operating decision maker makes resource allocation decisions and assesses performance of the delivery of an integrated solution to our customers based on financial information presented on a consolidated basis.

Significant accounting policies

Significant accounting policies	6 Months Ended
	Jun. 30, 2019
Significant accounting policies [Abstract]
Significant accounting policies	2. Significant accounting policies The principle accounting policies adopted are set out below. (a) Basis of presentation and principles of consolidation The condensed consolidated financial statements were prepared in accordance with GAAP. The accompanying unaudited interim condensed consolidated financial statements contained herein reflect all normal and recurring adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position, results of operations and cash flows of the Company for the interim periods presented. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned consolidated subsidiaries. The ownership interest of other investors in consolidated subsidiaries is recorded as a non-controlling interest. All significant intercompany transactions and balances have been eliminated on consolidation. On February 4, 2019, the Company completed an initial public offering (“IPO”) and a series of other transactions, in which the Company issued and sold 20,000,000 Class A shares at an IPO price of $14.00 per share. The Company’s Class A shares began trading on NASDAQ Global Select Market (“NASDAQ”) under the symbol “NFE” on January 31, 2019. Net proceeds from the IPO were $257.0 million, after deducting underwriting discounts and commissions and transaction costs. These proceeds were contributed to New Fortress Intermediate LLC (“NFI”), an entity formed in conjunction with the IPO, in exchange for 20,000,000 limited liability company units in NFI (“NFI LLC Units”). In addition, New Fortress Energy Holdings contributed all of its interests in consolidated subsidiaries that comprised substantially all of its historical operations to NFI in exchange for NFI LLC Units. In connection with the IPO, New Fortress Energy Holdings also received 147,058,824 Class B shares of the Company, which is equal to the number of NFI LLC Units held by New Fortress Energy Holdings immediately following the IPO. New Fortress Energy Holdings holds a significant interest in NFE through its ownership of 147,058,824 Class B shares, representing a 88.0% voting and non-economic interest. New Fortress Energy Holdings also has an 88.0% economic interest in NFI through its ownership of 147,058,824 of NFI LLC Units. New Fortress Energy Holdings has been determined to be NFE’s predecessor for accounting purposes. On March 1, 2019, the underwriters of the IPO exercised their option to purchase an additional 837,272 Class A shares at the IPO price of $14.00 per share, less underwriting discounts, which resulted in $11.0 million in additional net proceeds after deducting $0.7 million of underwriting discounts and commissions, such that there are 20,837,272 outstanding Class A shares. In connection with the exercise of the underwriters’ option to purchase an additional 837,272 Class A shares, NFE contributed such additional net proceeds to NFI in exchange for 837,272 NFI LLC Units. NFE is a holding company whose sole material asset is a controlling equity interest in NFI. As the sole managing member of NFI, NFE operates and controls all of the business and affairs of NFI, and through NFI and its subsidiaries, conducts the Company’s historical business. The contribution of the assets of New Fortress Energy Holdings and net proceeds from the IPO to NFI was treated as a reorganization of entities under common control. As a result, NFE presented the condensed consolidated balances sheets and statements of operations and comprehensive loss of New Fortress Energy Holdings for all periods prior to the IPO. The Company’s financial statements also include a non-controlling interest related to the portion of NFI LLC Units not owned by NFE. Prior to the IPO, NFE had no operations and had no assets or liabilities. (b) Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include relative fair value allocation between revenue and lease components of contracts with customers, total consideration and fair value of identifiable net assets related to acquisitions and fair value of equity awards granted to both employees and non-employees. Management evaluates its estimates and related assumptions regularly. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from these estimates. (c) Investment in equity securities The Company holds an investment in equity securities. The investment is carried at fair value with gains or losses recorded in earnings in Other expense (income), net in the condensed consolidated statements of operations and comprehensive loss. See “Note 8. Investment in equity securities” for more information. (d) Legal and contingencies The Company may be involved in legal actions in the ordinary course of business, including governmental and administrative investigations, inquiries and proceedings concerning employment, labor, environmental and other claims. The Company will recognize a loss contingency in the condensed consolidated financial statements when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. The Company will disclose any loss contingencies that do not meet both conditions if there is a reasonable possibility that a loss may have been incurred. Gain contingencies are not recorded until they are realized. (e) Revenue recognition The Company’s primary revenue stream is the sale of LNG and natural gas to its customers, which is presented as Operating revenue in the condensed consolidated statements of operations and comprehensive loss. Natural gas or LNG is delivered either by pipeline into the customer’s power generation facilities or in containers delivered by truck to customer sites, respectively. Revenues from sales delivered by pipeline to a power generation facility are recognized over time under the output method, as the customer takes control of the natural gas. Revenues from sales delivered by truck are recognized at the point in time at which legal title, physical possession and the risks and rewards of ownership transfer to the customer. Title typically transfers either when the containers are shipped or delivered to the customers’ storage facilities, depending on the terms of the contract. Because the nature, timing and uncertainty of revenues and cash flows are substantially the same under both modes of delivery, we have presented revenue on an aggregated basis. The Company has concluded that variable consideration included in these agreements meets the exception for allocating variable consideration. As such, the variable consideration for these contracts is allocated to each distinct unit of LNG or natural gas delivered and recognized when that distinct unit of LNG or natural gas is delivered to the customer. The Company’s contracts with customers to supply natural gas or LNG may contain a lease of equipment. The Company allocates consideration received from customers between lease and non-lease components based on the relative fair value of each component. The fair value of the lease component is estimated based on the market value of the same or similar equipment leased to the customer. The Company estimates the fair value of the non-lease component by forecasting volumes and pricing of gas to be delivered to the customer over the lease term. The leases of certain facilities and equipment to customers are accounted for as direct financing or operating leases. Direct financing leases, net represents the minimum lease payments due, net of unearned revenue. The lease payments are segregated into principal and interest components similar to a loan. Unearned revenue is recognized on an effective interest method over the lease term and included in Other revenue in the condensed consolidated statements of operations and comprehensive loss. The principal components of the lease payment are reflected as a reduction to the net investment in the finance lease. For the Company’s operating leases, the amount allocated to the leasing component is recognized over the lease term as Other revenue in the condensed consolidated statements of operations and comprehensive loss. Shipping and handling costs are not considered to be separate performance obligations. These costs are expensed in the period in which they are incurred and presented within Cost of sales in the condensed consolidated statements of operations and comprehensive loss. All such shipping and handling activities are performed prior to the customer obtaining control of the LNG or natural gas. The Company collects sales taxes from its customers on sales of taxable products and remits such collections to the appropriate taxing authority. The Company has elected to present sales tax collections in the condensed consolidated statements of operations and comprehensive loss on a net basis and, accordingly, such taxes are excluded from reported revenues. The Company elected the practical expedient under which the Company does not adjust consideration for the effects of a significant financing component for those contracts where the Company expects at contract inception that the period between transferring goods to the customer and receiving payment from the customer will be one year or less. (f) Share-based compensation In connection with the IPO, the Company adopted the New Fortress Energy LLC 2019 Omnibus Incentive Plan (the “Incentive Plan”), effective as of February 4, 2019. Under the Incentive Plan, the Company may issue options, stock appreciation rights, restricted shares, restricted stock units (“RSUs”), share bonuses or other share-based awards to selected officers, employees, non-employee directors and select non-employees of NFE or its affiliates. The Company accounts for share-based compensation in accordance with Accounting Standards Codification (“ASC”) 718, Compensation – Stock Compensation Equity (g) Income taxes In conjunction with the closing of the Company’s IPO, New Fortress Energy Holdings contributed all of its interests in consolidated subsidiaries that comprised substantially all of its historical operations to NFI in exchange for NFI LLC Units. NFE has elected to be taxed as a corporation and is subject to U.S. federal and state income taxes. The Company accounts for income taxes in accordance with ASC 740, “Accounting for Income Taxes” ASC 740 prescribes a two-step approach for the recognition and measurement of tax benefits associated with the positions taken or expected to be taken in a tax return that affect amounts reported in the financial statements. The Company has reviewed and will continue to review the conclusions reached regarding uncertain tax positions, which may be subject to review and adjustment at a later date based on ongoing analyses of tax laws, regulations and interpretations thereof. To the extent that the Company’s assessment of the conclusions reached regarding uncertain tax positions changes as a result of the evaluation of new information, such change in estimate will be recorded in the period in which such determination is made. The Company reports income tax-related interest and penalties relating to uncertain tax positions, if applicable, as a component of income tax expense. (h) Net loss per share Basic EPS is computed by dividing net loss attributable to Class A shares by the weighted average number of Class A shares outstanding during the period following the reorganization. Class B shares represent non-economic interests in the Company and, as such, earnings are not allocated to Class B shares. Diluted EPS reflects potential dilution and is computed by dividing net loss attributable to Class A shares by the weighted average number of Class A shares outstanding during the period following the reorganization increased by the number of additional Class A shares that would have been outstanding, including NFI LLC Units convertible into Class A shares and unvested RSUs. The dilutive effect of outstanding awards, if any, is reflected in diluted earnings per share by application of the treasury stock method or if-converted method, as applicable. Refer to “Note 18. Earnings Per Share” for additional information. Please refer to “Note 2. Significant accounting policies,” to our consolidated financial statements from our Annual Report on Form 10-K for the discussion of our significant accounting policies.

Adoption of new and revised sta

Adoption of new and revised standards	6 Months Ended
	Jun. 30, 2019
Adoption of new and revised standards [Abstract]
Adoption of new and revised standards	3. Adoption of new and revised standards As an “emerging growth company,” the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. The adoption dates discussed below reflect this election. a) New standards, amendments and interpretations issued but not effective for the financial year beginning January 1, 2019: In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Disclosure Framework – Measurement of Credit Losses on Financial Instruments In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract b) New and amended standards adopted by the Company: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall Recognition and Measurement of Financial Assets and Financial Liabilities In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows Restricted Cash In February 2018, the FASB issued ASU 2018-02, Income Statement: Reporting Comprehensive Income In September 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation Improvements to Non-employee Share-Based Payment Accounting

Revenue from contracts with cus

Revenue from contracts with customers	6 Months Ended
	Jun. 30, 2019
Revenue from contracts with customers [Abstract]
Revenue from contracts with customers	4. Revenue from contracts with customers Revenue recognized in the Company’s condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2019 and any associated balances on the condensed consolidated balance sheet as of June 30, 2019 prepared under ASC 606 did not differ materially from what would have been presented under the previous revenue standard. As such, no comparison for the results of operations for the three and six months ended June 30, 2019 and the financial position as of June 30, 2019 under ASC 606 and ASC 605 has been presented. Under most customer contracts, invoicing occurs once the Company’s performance obligations have been satisfied, at which point payment is unconditional. Receivables related to revenue from contracts with customers totaled $31,562 as of June 30, 2019 and were included in “Receivables, net” on the condensed consolidated balance sheets, net of the allowance for doubtful accounts. Other items included in Receivables, net not related to revenue from contracts with customers represent receivables associated with leases which are accounted for outside the scope of ASC 606. During the six month period ended June 30, 2019, the Company recognized a contract liability of $973. The contract liability balance is comprised of unconditional payments due under the contract with a customer prior to the Company’s satisfaction of the related performance obligations. The performance obligations are expected to be recognized during the next 12 months, and the contract liability is classified within Other current liabilities on the condensed consolidated balance sheets. Contract assets or liabilities have not been previously recognized, and as such, there are no other changes to contract balances within the current period. Transaction price allocated to remaining performance obligations Some of the Company’s contracts are short-term in nature with a contract term of less than a year. The Company applied the optional exemption not to report any unfulfilled performance obligations related to these contracts. The Company has arrangements in which LNG or natural gas is sold on a “take-or-pay” basis whereby the customer is obligated to pay for the minimum guaranteed volumes even if it does not take delivery of them. The price under these agreements is based on a market index plus a fixed margin. The fixed transaction price allocated to the remaining performance obligations under these arrangements is $3,119,776 as of June 30, 2019, representing the fixed margin multiplied by the outstanding minimum guaranteed volumes. The Company expects to recognize this revenue over the following time periods. The pattern of recognition reflects the minimum guaranteed volumes in each period: Period Revenue Remainder 2019 $ 58,981 2020 159,053 2021 164,789 2022 164,645 2023 164,724 Thereafter 2,407,584 Total $ 3,119,776 For all other sales contracts that have a term exceeding one year, the Company has elected the practical expedient in ASC 606-10-50-14A under which the Company does not disclose the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. For these excluded contracts, the sources of variability are (a) the fluctuating market index prices of natural gas used to price the contracts, and (b) the variation in volumes that may be delivered to the customer. Both sources of variability are expected to be resolved at or shortly before delivery of each unit of LNG or natural gas. As each unit of LNG or natural gas represents a separate performance obligation, future volumes are wholly unsatisfied. During the six month period ended June 30, 2019, the Company began to incur costs to fulfill a contract with a significant customer. These costs primarily consist of expenses required to enhance resources to deliver under the agreement with the customer. Such costs are capitalized as incurred within Other non-current assets on the condensed consolidated balance sheets. As of June 30, 2019, the Company has capitalized $3,335, and these costs will be recognized over the expected customer life, beginning when the Company begins to deliver under the contract.

Fair value

Fair value	6 Months Ended
	Jun. 30, 2019
Fair value [Abstract]
Fair value	5. Fair value Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows: • Level 1 – observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2 – inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs. • Level 3 – unobservable inputs for which there is little or no market data and which require the Company to develop its own assumptions about how market participants price the asset or liability. The valuation techniques that may be used to measure fair value are as follows: • Market approach – uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. • Income approach – uses valuation techniques, such as discounted cash flow technique, to convert future amounts to a single present amount based on current market expectations about those future amounts. • Cost approach – based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of June 30, 2019: June 30, 2019 Level 1 Level 2 Level 3 Total Valuation technique Assets Cash and cash equivalents $ 200,306 $ — $ — $ 200,306 Market approach Restricted cash 57,712 — — 57,712 Market approach Investment in equity securities 2,854 — — 2,854 Market approach Total $ 260,872 $ — $ — $ 260,872 Liabilities Derivative liability (1) $ — $ — $ 9,937 $ 9,937 Income approach Equity agreement (2) — — 16,667 16,667 Income approach Total $ — $ — $ 26,604 $ 26,604 (1) Consideration due to the sellers of Shannon LNG (as defined in “Note 11. Intangible Assets” below) once first gas is supplied from the terminal to be built. (2) To be paid in shares at the earlier of agreed-upon date in 2020 or the commencement of significant construction activities specified in the Shannon LNG Agreement. The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of December 31, 2018: December 31, 2018 Level 1 Level 2 Level 3 Total Valuation technique Assets Cash and cash equivalents $ 78,301 $ — $ — $ 78,301 Market approach Restricted cash 22,552 — — 22,552 Market approach Investment in equity securities 3,656 — — 3,656 Market approach Total $ 104,509 $ — $ — $ 104,509 Liabilities Derivative liability $ — $ — $ 9,835 $ 9,835 Income approach Equity agreement — — 16,924 16,924 Income approach Total $ — $ — $ 26,759 $ 26,759 The Company estimates fair value of the derivative liability and equity agreement using a discounted cash flows method with discount rates based on the average yield curve for bonds with similar credit ratings and matching terms to the discount periods as well as a probability of the contingent event occurring. The Company recorded a total loss/(gain) from fair value adjustment on the derivative liability and equity agreement of $478 and $(155) within Other expense (income), net in the condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2019, respectively. During the three and six months ended June 30, 2019, the Company had no settlements of the equity agreement or derivative liability or any transfers in or out of Level 3 in the fair value hierarchy. The Company estimates fair value of outstanding debt using a discounted cash flow method based on current market interest rates for debt issuances with similar remaining years to maturity and adjusted for credit risk. The Company has estimated that the carrying value of the New Term Loan Facility (defined below) approximates fair value. The fair value estimate is classified as Level 3 in the fair value hierarchy.

Restricted cash

Restricted cash	6 Months Ended
	Jun. 30, 2019
Restricted Cash [Abstract]
Restricted cash	6. Restricted cash As of June 30, 2019 and December 31, 2018, restricted cash consisted of the following: June 30, 2019 December 31, 2018 Collateral for performance under customer agreements $ 15,126 $ 15,095 Collateral for LNG purchases 35,000 927 Collateral for letters of credit 7,297 6,238 Other restricted cash 289 292 Total restricted cash $ 57,712 $ 22,552 Current restricted cash $ 19,252 $ 30 Non-current restricted cash 38,460 22,522

Inventory

Inventory	6 Months Ended
	Jun. 30, 2019
Inventory [Abstract]
Inventory	7. Inventory As of June 30, 2019 and December 31, 2018, inventory consisted of the following: June 30, 2019 December 31, 2018 LNG and natural gas inventory $ 19,010 $ 15,611 Materials, supplies and other 613 348 Total $ 19,623 $ 15,959 Inventory is adjusted to the lower of cost or net realizable value each quarter. Changes in the value of inventory are recorded within Cost of sales in the condensed consolidated statements of operations and comprehensive loss. No adjustments were recorded during the three and six months ended June 30, 2019 and 2018, respectively.

Investment in equity securities

Investment in equity securities	6 Months Ended
	Jun. 30, 2019
Investment in equity securities [Abstract]
Investment in equity securities	8. Investment in equity securities The Company has invested in equity securities of an international oil and gas drilling contractor. The following tables present the number of shares, cost and fair value of the investment: June 30, 2019 (in thousands of U.S. dollars except shares) Number of Shares Cost Fair value Investment in equity securities (1) 295,256 $ 3,667 $ 2,854 December 31, 2018 (in thousands of U.S. dollars except shares) Number of Shares Cost Fair value Investment in equity securities 1,476,280 $ 3,667 $ 3,656 (1) During the six months ended June 30, 2019, the investee effected a 5-for-1 reverse stock split. The movement of the equity investment during the six months ended June 30, 2019 is summarized below: June 30, 2019 Beginning of period $ 3,656 Unrealized gain/(loss) (802 ) End of period $ 2,854 The unrealized loss of $1,698 and $802 for the three and six months ended June 30, 2019, respectively is included within Other expense (income), net in the condensed consolidated statements of operations and comprehensive loss.

Construction in progress

Construction in progress	6 Months Ended
	Jun. 30, 2019
Construction in Progress [Abstract]
Construction in progress	9. Construction in progress The Company’s construction in progress activity during the six months ended June 30, 2019 is detailed below: June 30, 2019 Balance at beginning of period $ 254,700 Additions 168,101 Transferred to property, plant and equipment, net (Note 10) (97,973 ) Balance at end of period $ 324,828 Interest expense of $9,111 and $0 was capitalized for the six months ended June 30, 2019 and 2018, respectively, inclusive of amortized debt issuance costs disclosed in “Note 15. Debt.”

Property, plant and equipment,

Property, plant and equipment, net	6 Months Ended
	Jun. 30, 2019
Property, plant and equipment, net [Abstract]
Property, plant and equipment, net	10. Property, plant and equipment, net As of June 30, 2019 and December 31, 2018 the Company’s property, plant and equipment, net consisted of the following: June 30, 2019 December 31, 2018 LNG liquefaction facilities $ 66,526 $ 65,631 Gas terminals 59,453 — Gas pipelines 30,658 — ISO containers and other equipment 20,773 15,873 Land 16,588 12,779 Leasehold improvements 8,054 7,229 Vehicles 1,329 1,178 Computer equipment 846 741 Accumulated depreciation (12,970 ) (9,391 ) Total property, plant and equipment, net $ 191,257 $ 94,040 Depreciation for the three months ended June 30, 2019 and 2018 totaled $1,983 and $910, respectively, of which $147 and $178 is respectively included within Cost of sales in the condensed consolidated statements of operations and comprehensive loss. Depreciation for the six months ended June 30, 2019 and 2018 totaled $3,563 and $1,767, respectively, of which $305 and $339 is respectively included within Cost of sales in the condensed consolidated statements of operations and comprehensive loss.

Intangible assets

Intangible assets	6 Months Ended
	Jun. 30, 2019
Intangible assets [Abstract]
Intangible assets	11. Intangible assets On November 9, 2018, the Company entered into an agreement to acquire the entire issued share capital of Shannon LNG Limited and Shannon LNG Energy Limited (together, “Shannon LNG”). Shannon LNG was previously formed to construct and operate a terminal, pipeline and related infrastructure in order to deliver natural gas to downstream customers in Ireland. In connection with the acquisition, the Company recognized intangible assets related to favorable lease agreements and permits. The following table summarizes the composition of intangible assets as of June 30, 2019 and December 31, 2018: June 30, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Useful Life Shannon LNG leases and permits $ 42,685 $ 677 $ 42,008 40 to 91 Total intangible assets $ 42,685 $ 677 $ 42,008 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Useful Life Shannon LNG leases and permits $ 43,191 $ 134 $ 43,057 40 to 91 Total intangible assets $ 43,191 $ 134 $ 43,057 As of June 30, 2019, the weighted-average remaining amortization periods for the intangible assets is 39.63 years. Amortization for the three and six months ended June 30, 2019 totaled $274 and $543, respectively.

Finance leases, net

Finance leases, net	6 Months Ended
	Jun. 30, 2019
Finance leases, net [Abstract]
Finance leases, net	12. Finance leases, net The Company placed its storage and regasification LNG terminal in Montego Bay, Jamaica into service on October 30, 2016, which has been accounted for as a direct finance lease. In addition, the Company has also entered into other arrangements to lease equipment to customers which are accounted for as direct finance leases. The components of the direct finance leases as of June 30, 2019 and December 31, 2018 are as follows: June 30, 2019 December 31, 2018 Finance leases $ 298,904 $ 306,832 Unearned income (206,214 ) (213,682 ) Total finance leases, net $ 92,690 $ 93,150 Current portion $ 1,025 $ 943 Non-current 91,665 92,207 Receivables related to the Company’s direct finance leases are primarily with a public utility that generates consistent cash flow. Therefore, the Company does not expect a material impact to the results of operations or financial position due to nonperformance from such counterparty.

Other non-current assets

Other non-current assets	6 Months Ended
	Jun. 30, 2019
Other non-current assets [Abstract]
Other non-current assets	13. Other non-current assets As of June 30, 2019 and December 31, 2018, other non-current assets consisted of the following: June 30, 2019 December 31, 2018 Easements $ 1,446 $ 1,159 Port access rights 12,206 12,671 Initial lease costs 8,702 9,200 Nonrefundable deposit 10,970 10,810 Upfront payments to customers 6,329 — Other 6,708 1,415 Total other non-current assets $ 46,361 $ 35,255 Port access rights related to the Company’s port lease in Baja California Sur, Mexico, represent capitalized initial direct costs of entering the lease and are amortized straight-line over the lease term as additional rent expense. Initial lease costs represent capitalized payments made to previous lessees to secure the Company’s port lease in San Juan, Puerto Rico, and are also amortized straight-line over the lease term. Nonrefundable deposits are primarily related to deposits for planned land purchases in Pennsylvania and Ireland. Upfront payments to customers consist of amounts the Company has paid in relation to two natural gas sales contracts with customers. Under these agreements, the Company has made payments of $5,000 and is obligated to make an additional payment of $1,350 to the customers in order to construct fuel-delivery infrastructure that the customers will own.

Accrued liabilities

Accrued liabilities	6 Months Ended
	Jun. 30, 2019
Accrued liabilities [Abstract]
Accrued liabilities	14. Accrued liabilities As of June 30, 2019 and December 31, 2018 accrued liabilities consisted of the following: June 30, 2019 December 31, 2018 Accrued construction costs $ 16,870 $ 41,343 Accrued IPO costs — 5,296 Accrued vessel charter costs 2,160 — Accrued bonuses 10,600 12,582 Other accrued expenses 12,442 8,291 Total $ 42,072 $ 67,512

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt [Abstract]
Debt	15. Debt As of June 30, 2019 and December 31, 2018, the Company’s current debt consisted of the New Term Loan Facility and the Term Loan Facility (as defined below) with balances of $490,523 and $272,192, respectively. New Term Loan Facility On August 16, 2018, the Company entered into a Term Loan Facility (the “Term Loan Facility”). On December 31, 2018, the Company amended its previous Term Loan Facility to borrow up to an aggregate principal amount of $500,000 (the “New Term Loan Facility”) from a syndicate of two lenders. The Company initially borrowed $280,000 under the New Term Loan Facility. On March 21, 2019, the Company drew an additional $220,000 under the New Term Loan Facility, bringing the Company’s total outstanding borrowings to $500,000 under the New Term Loan Facility. All borrowings under the New Term Loan Facility bear interest at a rate selected by the Company of either (i) the LIBOR divided by one minus the applicable reserve requirement plus a spread of 4.0% or (ii) subject to a floor of 1.0%, a Base Rate equal to the higher of (a) the Prime Rate, (b) the Federal Funds Rate plus 1⁄2 of 1.0% or (c) the 1-month LIBOR rate plus 1.0% plus a spread of 3.0%. The New Term Loan Facility is set to mature on December 31, 2019 and is repayable in quarterly installments of $1,250, with a balloon payment due at maturity. The Company has the option to extend the maturity date for two additional six-month periods; upon the exercise of each extension option, the spread on LIBOR and Base Rate increases by 0.5%. To exercise the extension option, the Company must pay a fee equal to 1.0% of the outstanding principal balance at the time of the exercise of the option. The New Term Loan Facility is secured by mortgages on certain properties owned by the Company’s subsidiaries, in addition to other collateral. The Company is required to comply with certain financial covenants and other restrictive covenants customary for facilities of this type, including restrictions on indebtedness, liens, acquisitions and investments, restricted payments and dispositions. The New Term Loan Facility also provides for customary events of default, prepayment and cure provisions. The Company paid $4,400 of additional fees in connection with the $220,000 draw on the New Term Loan Facility. These fees were capitalized as a reduction to the New Term Loan Facility on the condensed consolidated balance sheets. The total unamortized deferred financing costs as of June 30, 2019 was $6,977. Interest and related amortization of debt issuance costs recognized during major development and construction projects are capitalized and included in the cost of the project. Amortization of debt issuance costs were $3,166 and $165 for the three months ended June 30, 2019 and 2018, respectively, of which $1,558 and $0 were capitalized, respectively, and $5,230 and $339 for the six months ended June 30, 2019 and 2018, respectively, of which $2,641 and $0 were capitalized, respectively.

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2019
Income taxes [Abstract]
Income taxes	16. Income taxes In connection with the IPO, NFE contributed the net proceeds from the IPO to NFI in exchange for NFI LLC Units, and NFE became the managing member of NFI. NFI is a limited liability company that is treated as a partnership for U.S. federal income tax purposes and for most applicable state and local income tax purposes. As a partnership, NFI is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by NFI is passed through to and included in the taxable income or loss of its members, including NFE, on a pro rata basis, subject to applicable tax regulations. NFE is subject to U.S. federal income taxes, in addition to state and local income taxes, with respect to its allocable share of any taxable income or loss of NFI. Additionally, NFI and its subsidiaries are subject to income taxes in the various foreign jurisdictions in which they operate. In connection with the IPO, NFE recorded a deferred tax asset related to the differential between its outside basis in its investment in NFI and NFE’s share of the basis of the assets of NFI, which was $44,473 at February 4, 2019. The Company records a valuation allowance against its deferred tax assets to reduce the net carrying value to an amount that it believes is more likely than not to be realized. As of June 30, 2019, the Company concluded, based on the weight of all available positive and negative evidence, those deferred tax assets recorded as part of the IPO are not more likely than not to be realized and accordingly, a full valuation allowance has been recorded on this deferred tax asset as of June 30, 2019. Jamaica NFI’s subsidiaries incorporated in Jamaica are subject to income tax which is computed at 25% of the relevant subsidiaries’ results for the year, adjusted for tax purposes. Bermuda NFI has subsidiaries incorporated in Bermuda. Under current Bermuda law, the Company is not required to pay taxes in Bermuda on either income or capital gains. The Company has received an undertaking from the Bermuda government that, in the event of income or capital gain taxes being imposed, it will be exempted from such taxes until 2035. Ireland NFI acquired Shannon LNG on November 9, 2018. The Shannon LNG entities are incorporated in Ireland and had net operating loss carryforwards of approximately $41,395 as of the acquisition date. These losses were evaluated to determine if any would be subject to a limitation resulting from the acquisition. The Company concluded, based on the weight of all available positive and negative evidence, those deferred tax assets relating to the net operating loss carryforwards are not more likely than not to be realized and accordingly, a full valuation allowance has been recorded on these deferred tax assets as of June 30, 2019. Puerto Rico NFI has a subsidiary, NFEnergia LLC (NFEnergia) incorporated in Puerto Rico. NFEnergia is treated as a controlled foreign coporation for U.S. federal income tax purposes. The entity has not yet begun operations in Puerto Rico and has been in a loss position since it was organized in 2017. A full valuation allowance has been recorded against deferred tax assets related to those losses as of June 30, 2019. Total Operations The effective tax rate for the three months ended June 30, 2019 and June 30, 2018 was (0.30)% and (1.51)%, respectively. The total tax expense for the three months ended June 30, 2019 and 2018 was $155 and $280, respectively. The effective tax rate for the six months ended June 30, 2019 and June 30, 2018 was (0.36)% and (0.31)%, respectively. The total tax expense for the six months ended June 30, 2019 and 2018 was $401 and $93, respectively. The Company has not recorded a liability for uncertain tax positions as of June 30, 2019. The Company remains subject to periodic audits and reviews by the taxing authorities, and NFE’s returns since its formation remain open for examination.

Commitments and contingencies

Commitments and contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and contingencies [Abstract]
Commitments and contingencies	17. Commitments and contingencies Contingencies As of December 31, 2016, the Company had accrued for $1,204 of tangible personal property tax levied in the State of Florida with respect to the Company’s LNG plant in Hialeah, Florida. During 2017, the Company paid this amount in full and subsequently initiated legal proceedings to challenge the tax amount for a full or partial rebate. The Company successfully challenged the tax amount, including penalties, and received a full rebate. The State of Florida has appealed the determination and the Company repaid the rebate amount in order to avoid penalties and charges while the appeal is under consideration. As of the date at which these condensed consolidated financial statements were issued, the appeal has not been concluded. Should the State of Florida lose the appeal, the Company expects a full refund which will be recognized as a gain contingency recognized in earnings when the cash is received.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2019
Earnings per share [Abstract]
Earnings per share	18. Earnings per share Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Numerator: Net loss $ (51,233 ) $ (111,525 ) Less: net loss attributable to non-controlling interests 45,047 91,782 Net loss attributable to Class A shares $ (6,186 ) $ (19,743 ) Denominator: Weighted-average shares - basic and diluted 22,114,002 18,154,939 Net loss per share - basic and diluted $ (0.28 ) $ (1.09 ) In connection with the IPO, New Fortress Energy Holdings, the Company’s predecessor, effected a one-for-2.16 stock split of its issued and outstanding common shares, resulting in 147,058,824 common shares. Upon the reorganization, New Fortress Energy Holdings obtained the same number of Class B shares in NFE. Class B shares do not share in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted net loss per share for Class B shares under the two-class method has not been presented. The following table presents potentially dilutive securities excluded from the computation of diluted net loss per share for the periods presented because its effects would have been anti-dilutive. June 30, 2019 Unvested RSUs (1) 3,959,725 Class B shares (2) 147,058,824 Shannon Equity Agreement shares (3) 1,432,208 Total 152,450,757 (1) Represents the number of instruments outstanding at the end of the period. (2) Class B shares at the end of the period are considered potentially dilutive Class A shares under application of the if-converted method. (3) Class A shares that would be issued in relation to the Shannon LNG Equity agreement.

Share-based compensation

Share-based compensation	6 Months Ended
	Jun. 30, 2019
Share-based compensation [Abstract]
Share-based compensation	19. Share-based compensation During the six months ended June 30, 2019, the Company granted RSUs to select officers, employees, non-employee members of the board of directors, and select non-employees under the Incentive Plan. The Company estimates the fair value of RSUs on the grant date based on the closing price of the underlying shares on the grant date and other fair value adjustments to account for a post-vesting holding period. These fair value adjustments were estimated based on the Finnerty model. For the six months ended June 30, 2019, cumulative compensation expense recognized for forfeited awards of $56 was reversed. The following table summarizes the RSU activity for the six months ended June 30, 2019: Restricted Stock Units Weighted- average grant date fair value per share Non-vested RSUs as of December 31, 2018 — $ — Granted 5,404,823 13.48 Vested and shares issued (1,284,383 ) 13.53 Forfeited (160,715 ) 13.51 Non-vested RSUs as of June 30, 2019 3,959,725 $ 13.46 During the six months ended June 30, 2019, the Company recognized a compensation expense of $28,008, of which $27,679 and $329 are recorded in Selling, general and administrative and Operations and maintenance, respectively. During the three months ended June 30, 2019, the Company recognized a compensation expense of $8,971, of which $8,711 and $260 are recorded in Selling, general and administrative and Operations and maintenance, respectively. The Company recognizes the income tax benefits resulting from vesting of RSUs in the period they vest, to the extent the compensation expense has been recognized. As of June 30, 2019, the Company had 3,959,725 non-vested RSUs subject to service conditions and therefore had unrecognized compensation costs of approximately $42,629. The non-vested RSUs will vest over a period from ten months to three years following the grant date. The weighted-average remaining vesting period of non-vested RSUs totaled 1.53 years as of June 30, 2019.

Leases, as lessee

Leases, as lessee	6 Months Ended
	Jun. 30, 2019
Leases, as lessee [Abstract]
Leases, as lessee	20. Leases, as lessee During the three months ended June 30, 2019 and 2018, the Company recognized rental expense for all operating leases of $8,939 and $6,810 respectively. During the six months ended June 30, 2019 and 2018, the Company recognized rental expense for all operating leases of $17,376 and $11,295 respectively related primarily to LNG vessel time charters, office space, a land site lease and marine port berth leases, as detailed in the table below. Lease Term Rent Escalation Land site lease¹ 5 year initial term; 5 year renewal option 2.5% per annum Marine port berth lease 10 year initial term; annual renewal option for up to 10 years 15% after year 5 Marine port berth lease 20 year initial term; no renewal option No escalation LNG vessel time charter 24 month initial term; 3 month renewal option No escalation LNG vessel time charter 7 year initial term ; no renewal option 2% per annum after year 3 LNG vessel time charter 15 year initial term; non-cancellable for the first 3 years; 5 year renewal option No escalation Office space lease 7 year initial term ; two 5-year renewal options 3% per annum Office space lease 1 year renewal option 5% per annum 1 Refer to “Note 21. Related party transactions” for additional detail.

Related party transactions

Related party transactions	6 Months Ended
	Jun. 30, 2019
Related party transactions [Abstract]
Related party transactions	21. Related party transactions Management and administrative services In the ordinary course of business, Fortress Investment Group LLC (“Fortress”), through affiliated entities, has historically charged the Company for administrative and general expenses incurred pursuant to its Management Services Agreement (“Management Agreement”). Upon completion of the IPO, the Management Agreement was terminated and replaced by an Administrative Services Agreement (“Administrative Agreement”) to charge the Company for similar administrative and general expenses. The charges under the Management Agreement and Administrative Agreement that are attributable to the Company totaled $1,742 and $377 for the three months ended June 30, 2019 and 2018, respectively and $4,520 and $724 for the six months ended June 30, 2019 and 2018, respectively. Costs associated with the Management Agreement and Administrative Agreement are included within Selling, general and administrative in the condensed consolidated statements of operations and comprehensive loss. In addition to management and administrative services, an affiliate of Fortress owns and leases an aircraft chartered by the Company for business purposes in the course of operations. The Company incurred, at aircraft operator market rates, charter costs of $649 and $358 for the three months ended June 30, 2019 and 2018, respectively and charter costs of $1,625 and $591 for the six months ended June 30, 2019 and 2018, respectively. As of June 30, 2019 and December 31, 2018, $5,707 and $3,579 were due to Fortress, respectively. Land and office lease The Company has historically leased land and office space from Florida East Coast Industries, LLC (“FECI”), an affiliate of the Company. In April 2019, FECI sold the office building to a non-affiliate, and as such, the lease of the office space is now no longer held with a related party. The expense for the period that the land and building was owned by a related party during the three months ended June 30, 2019 and 2018 totaled $112 and $71, respectively, of which $38 and $0 related to the office lease and ancillary services is included in Selling, general and administrative, and $74 and $71 related to the land lease is included within Operations and maintenance, respectively. The expense for the period that the land and building was owned by a related party during the six months ended June 30, 2019 and 2018 totaled $758 and $117, respectively, of which $386 and $0 was capitalized to Construction in progress, $223 and $0 related to the office lease and ancillary services is included in Selling, general and administrative, and $149 and $117 related to the land lease is included within Operations and maintenance, respectively in the condensed consolidated statements of operations and comprehensive loss. As of June 30, 2019 and December 31, 2018, $0 and $597 were due to FECI, respectively. DevTech Investment In August 2018, the Company entered into a consulting arrangement with DevTech Environment Limited (“DevTech”), to provide business development services to increase the customer base of the Company. DevTech also contributed cash consideration in exchange for a 10% interest in a consolidated subsidiary. The 10% interest is reflected as non-controlling interest in the Company’s condensed consolidated financial statements. DevTech also purchased 10% of a note payable due to an affiliate of the Company. As of June 30, 2019 and December 31, 2018, $1,073 and $755 was owed to DevTech on the note payable, respectively. The outstanding note payable due to DevTech is included in Other long-term liabilities in the condensed consolidated balance sheet as of June 30, 2019. For the three and six months ended June 30, 2019, interest expense on the note payable due to DevTech was $24 and $46, respectively. As of June 30, 2019 and December 31, 2018, $665 and $365 was due from DevTech, respectively. Fortress affiliated entities Since 2017, the Company has provided certain administrative services to related parties including Fortress Energy Partners that is billed on a yearly basis. As of June 30, 2019 and December 31, 2018, $357 and $525 were due from affiliates, respectively. There are no costs incurred by the Company as it is fully reimbursed, and there is currently a receivable outstanding. Additionally, Fortress affiliated entities provide certain administrative services to the Company. As of June 30, 2019 and December 31, 2018, $622 and $305 were due to Fortress affiliates, respectively. Due to/from Affiliates The tables below summarizes the balances outstanding with affiliates at June 30, 2019 and December 31, 2018: June 30, 2019 December 31, 2018 Amounts due to affiliates $ 6,329 $ 4,481 Amounts due from affiliates 1,022 890

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2019
Subsequent events [Abstract]
Subsequent events	22. Subsequent events On August 12, 2019, NFE South Power Holdings Limited (“South Power”), a wholly owned subsidiary of the Company, executed a binding commitment letter pursuant to which a financial institution committed to purchase $180,000 in secured and unsecured bonds (the “Senior Secured Bonds” and “Senior Unsecured Bonds”, respectively). At closing, South Power will issue up to $72,000 and $45,000 in Senior Secured Bonds and Senior Unsecured Bonds, respectively. Additionally, the commitment to purchase Senior Unsecured Bonds may increase to $50,000 prior to closing. The Senior Secured Bonds will be secured by the dual-fired combined heat and power facility in Clarendon, Jamaica (the “CHP Plant”) that is currently under construction and related receivables and assets, and the proceeds will be used to fund the completion of the CHP Plant and to reimburse advances made by the Company. Upon completion of certain conditions, South Power will have the ability to issue an additional $63,000 Senior Secured Bonds. The Senior Secured Bonds bear interest at an annual fixed rate of 8.25% and will mature 15 years from the closing date of each tranche. No principal payments will be due for the first seven years. After seven years, quarterly principal payments of approximately 1.6% of the original principal amount will be due, with a 50% balloon payment due upon maturity. Interest payments on outstanding principal balances will be due quarterly. The Senior Unsecured Bonds will bear interest at an annual fixed rate of 11.00% and will mature 17 years from the closing date. No principal payments will be due for the first nine years. After nine years, principal payments will be due quarterly on an escalating schedule. Interest payments on outstanding principal balances will be due quarterly. South Power will be required to comply with certain financial covenants as well as customary affirmative and negative covenants, including limitations on incurring additional indebtedness.

Significant accounting polici_2

Significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2019
Significant accounting policies [Abstract]
Basis of presentation and principles of consolidation	(a) Basis of presentation and principles of consolidation The condensed consolidated financial statements were prepared in accordance with GAAP. The accompanying unaudited interim condensed consolidated financial statements contained herein reflect all normal and recurring adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position, results of operations and cash flows of the Company for the interim periods presented. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned consolidated subsidiaries. The ownership interest of other investors in consolidated subsidiaries is recorded as a non-controlling interest. All significant intercompany transactions and balances have been eliminated on consolidation. On February 4, 2019, the Company completed an initial public offering (“IPO”) and a series of other transactions, in which the Company issued and sold 20,000,000 Class A shares at an IPO price of $14.00 per share. The Company’s Class A shares began trading on NASDAQ Global Select Market (“NASDAQ”) under the symbol “NFE” on January 31, 2019. Net proceeds from the IPO were $257.0 million, after deducting underwriting discounts and commissions and transaction costs. These proceeds were contributed to New Fortress Intermediate LLC (“NFI”), an entity formed in conjunction with the IPO, in exchange for 20,000,000 limited liability company units in NFI (“NFI LLC Units”). In addition, New Fortress Energy Holdings contributed all of its interests in consolidated subsidiaries that comprised substantially all of its historical operations to NFI in exchange for NFI LLC Units. In connection with the IPO, New Fortress Energy Holdings also received 147,058,824 Class B shares of the Company, which is equal to the number of NFI LLC Units held by New Fortress Energy Holdings immediately following the IPO. New Fortress Energy Holdings holds a significant interest in NFE through its ownership of 147,058,824 Class B shares, representing a 88.0% voting and non-economic interest. New Fortress Energy Holdings also has an 88.0% economic interest in NFI through its ownership of 147,058,824 of NFI LLC Units. New Fortress Energy Holdings has been determined to be NFE’s predecessor for accounting purposes. On March 1, 2019, the underwriters of the IPO exercised their option to purchase an additional 837,272 Class A shares at the IPO price of $14.00 per share, less underwriting discounts, which resulted in $11.0 million in additional net proceeds after deducting $0.7 million of underwriting discounts and commissions, such that there are 20,837,272 outstanding Class A shares. In connection with the exercise of the underwriters’ option to purchase an additional 837,272 Class A shares, NFE contributed such additional net proceeds to NFI in exchange for 837,272 NFI LLC Units. NFE is a holding company whose sole material asset is a controlling equity interest in NFI. As the sole managing member of NFI, NFE operates and controls all of the business and affairs of NFI, and through NFI and its subsidiaries, conducts the Company’s historical business. The contribution of the assets of New Fortress Energy Holdings and net proceeds from the IPO to NFI was treated as a reorganization of entities under common control. As a result, NFE presented the condensed consolidated balances sheets and statements of operations and comprehensive loss of New Fortress Energy Holdings for all periods prior to the IPO. The Company’s financial statements also include a non-controlling interest related to the portion of NFI LLC Units not owned by NFE. Prior to the IPO, NFE had no operations and had no assets or liabilities.
Use of estimates	(b) Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include relative fair value allocation between revenue and lease components of contracts with customers, total consideration and fair value of identifiable net assets related to acquisitions and fair value of equity awards granted to both employees and non-employees. Management evaluates its estimates and related assumptions regularly. Changes in facts and circumstances or additional information may result in revised estimates, and actual results may differ from these estimates.
Investment in equity securities	(c) Investment in equity securities The Company holds an investment in equity securities. The investment is carried at fair value with gains or losses recorded in earnings in Other expense (income), net in the condensed consolidated statements of operations and comprehensive loss. See “Note 8. Investment in equity securities” for more information.
Legal and contingencies	(d) Legal and contingencies The Company may be involved in legal actions in the ordinary course of business, including governmental and administrative investigations, inquiries and proceedings concerning employment, labor, environmental and other claims. The Company will recognize a loss contingency in the condensed consolidated financial statements when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. The Company will disclose any loss contingencies that do not meet both conditions if there is a reasonable possibility that a loss may have been incurred. Gain contingencies are not recorded until they are realized.
Revenue recognition	(e) Revenue recognition The Company’s primary revenue stream is the sale of LNG and natural gas to its customers, which is presented as Operating revenue in the condensed consolidated statements of operations and comprehensive loss. Natural gas or LNG is delivered either by pipeline into the customer’s power generation facilities or in containers delivered by truck to customer sites, respectively. Revenues from sales delivered by pipeline to a power generation facility are recognized over time under the output method, as the customer takes control of the natural gas. Revenues from sales delivered by truck are recognized at the point in time at which legal title, physical possession and the risks and rewards of ownership transfer to the customer. Title typically transfers either when the containers are shipped or delivered to the customers’ storage facilities, depending on the terms of the contract. Because the nature, timing and uncertainty of revenues and cash flows are substantially the same under both modes of delivery, we have presented revenue on an aggregated basis. The Company has concluded that variable consideration included in these agreements meets the exception for allocating variable consideration. As such, the variable consideration for these contracts is allocated to each distinct unit of LNG or natural gas delivered and recognized when that distinct unit of LNG or natural gas is delivered to the customer. The Company’s contracts with customers to supply natural gas or LNG may contain a lease of equipment. The Company allocates consideration received from customers between lease and non-lease components based on the relative fair value of each component. The fair value of the lease component is estimated based on the market value of the same or similar equipment leased to the customer. The Company estimates the fair value of the non-lease component by forecasting volumes and pricing of gas to be delivered to the customer over the lease term. The leases of certain facilities and equipment to customers are accounted for as direct financing or operating leases. Direct financing leases, net represents the minimum lease payments due, net of unearned revenue. The lease payments are segregated into principal and interest components similar to a loan. Unearned revenue is recognized on an effective interest method over the lease term and included in Other revenue in the condensed consolidated statements of operations and comprehensive loss. The principal components of the lease payment are reflected as a reduction to the net investment in the finance lease. For the Company’s operating leases, the amount allocated to the leasing component is recognized over the lease term as Other revenue in the condensed consolidated statements of operations and comprehensive loss. Shipping and handling costs are not considered to be separate performance obligations. These costs are expensed in the period in which they are incurred and presented within Cost of sales in the condensed consolidated statements of operations and comprehensive loss. All such shipping and handling activities are performed prior to the customer obtaining control of the LNG or natural gas. The Company collects sales taxes from its customers on sales of taxable products and remits such collections to the appropriate taxing authority. The Company has elected to present sales tax collections in the condensed consolidated statements of operations and comprehensive loss on a net basis and, accordingly, such taxes are excluded from reported revenues. The Company elected the practical expedient under which the Company does not adjust consideration for the effects of a significant financing component for those contracts where the Company expects at contract inception that the period between transferring goods to the customer and receiving payment from the customer will be one year or less.
Share-based compensation	(f) Share-based compensation In connection with the IPO, the Company adopted the New Fortress Energy LLC 2019 Omnibus Incentive Plan (the “Incentive Plan”), effective as of February 4, 2019. Under the Incentive Plan, the Company may issue options, stock appreciation rights, restricted shares, restricted stock units (“RSUs”), share bonuses or other share-based awards to selected officers, employees, non-employee directors and select non-employees of NFE or its affiliates. The Company accounts for share-based compensation in accordance with Accounting Standards Codification (“ASC”) 718, Compensation – Stock Compensation Equity
Income taxes	(g) Income taxes In conjunction with the closing of the Company’s IPO, New Fortress Energy Holdings contributed all of its interests in consolidated subsidiaries that comprised substantially all of its historical operations to NFI in exchange for NFI LLC Units. NFE has elected to be taxed as a corporation and is subject to U.S. federal and state income taxes. The Company accounts for income taxes in accordance with ASC 740, “Accounting for Income Taxes” ASC 740 prescribes a two-step approach for the recognition and measurement of tax benefits associated with the positions taken or expected to be taken in a tax return that affect amounts reported in the financial statements. The Company has reviewed and will continue to review the conclusions reached regarding uncertain tax positions, which may be subject to review and adjustment at a later date based on ongoing analyses of tax laws, regulations and interpretations thereof. To the extent that the Company’s assessment of the conclusions reached regarding uncertain tax positions changes as a result of the evaluation of new information, such change in estimate will be recorded in the period in which such determination is made. The Company reports income tax-related interest and penalties relating to uncertain tax positions, if applicable, as a component of income tax expense.
Net loss per share	(h) Net loss per share Basic EPS is computed by dividing net loss attributable to Class A shares by the weighted average number of Class A shares outstanding during the period following the reorganization. Class B shares represent non-economic interests in the Company and, as such, earnings are not allocated to Class B shares. Diluted EPS reflects potential dilution and is computed by dividing net loss attributable to Class A shares by the weighted average number of Class A shares outstanding during the period following the reorganization increased by the number of additional Class A shares that would have been outstanding, including NFI LLC Units convertible into Class A shares and unvested RSUs. The dilutive effect of outstanding awards, if any, is reflected in diluted earnings per share by application of the treasury stock method or if-converted method, as applicable. Refer to “Note 18. Earnings Per Share” for additional information. Please refer to “Note 2. Significant accounting policies,” to our consolidated financial statements from our Annual Report on Form 10-K for the discussion of our significant accounting policies.

Revenue from contracts with c_2

Revenue from contracts with customers (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from contracts with customers [Abstract]
Remaining Performance Obligation	The pattern of recognition reflects the minimum guaranteed volumes in each period: Period Revenue Remainder 2019 $ 58,981 2020 159,053 2021 164,789 2022 164,645 2023 164,724 Thereafter 2,407,584 Total $ 3,119,776

Fair value (Tables)

Fair value (Tables)	6 Months Ended
	Jun. 30, 2019
Fair value [Abstract]
Financial Assets and Financial Liabilities	The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of June 30, 2019: June 30, 2019 Level 1 Level 2 Level 3 Total Valuation technique Assets Cash and cash equivalents $ 200,306 $ — $ — $ 200,306 Market approach Restricted cash 57,712 — — 57,712 Market approach Investment in equity securities 2,854 — — 2,854 Market approach Total $ 260,872 $ — $ — $ 260,872 Liabilities Derivative liability (1) $ — $ — $ 9,937 $ 9,937 Income approach Equity agreement (2) — — 16,667 16,667 Income approach Total $ — $ — $ 26,604 $ 26,604 (1) Consideration due to the sellers of Shannon LNG (as defined in “Note 11. Intangible Assets” below) once first gas is supplied from the terminal to be built. (2) To be paid in shares at the earlier of agreed-upon date in 2020 or the commencement of significant construction activities specified in the Shannon LNG Agreement. The following table presents the Company’s financial assets and financial liabilities that are measured at fair value as of December 31, 2018: December 31, 2018 Level 1 Level 2 Level 3 Total Valuation technique Assets Cash and cash equivalents $ 78,301 $ — $ — $ 78,301 Market approach Restricted cash 22,552 — — 22,552 Market approach Investment in equity securities 3,656 — — 3,656 Market approach Total $ 104,509 $ — $ — $ 104,509 Liabilities Derivative liability $ — $ — $ 9,835 $ 9,835 Income approach Equity agreement — — 16,924 16,924 Income approach Total $ — $ — $ 26,759 $ 26,759

Restricted cash (Tables)

Restricted cash (Tables)	6 Months Ended
	Jun. 30, 2019
Restricted Cash [Abstract]
Restricted Cash	As of June 30, 2019 and December 31, 2018, restricted cash consisted of the following: June 30, 2019 December 31, 2018 Collateral for performance under customer agreements $ 15,126 $ 15,095 Collateral for LNG purchases 35,000 927 Collateral for letters of credit 7,297 6,238 Other restricted cash 289 292 Total restricted cash $ 57,712 $ 22,552 Current restricted cash $ 19,252 $ 30 Non-current restricted cash 38,460 22,522

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2019
Inventory [Abstract]
Inventory	As of June 30, 2019 and December 31, 2018, inventory consisted of the following: June 30, 2019 December 31, 2018 LNG and natural gas inventory $ 19,010 $ 15,611 Materials, supplies and other 613 348 Total $ 19,623 $ 15,959

Investment in equity securiti_2

Investment in equity securities (Tables)	6 Months Ended
	Jun. 30, 2019
Investment in equity securities [Abstract]
Number of Shares, Cost and Fair Value of Investment	The Company has invested in equity securities of an international oil and gas drilling contractor. The following tables present the number of shares, cost and fair value of the investment: June 30, 2019 (in thousands of U.S. dollars except shares) Number of Shares Cost Fair value Investment in equity securities (1) 295,256 $ 3,667 $ 2,854 December 31, 2018 (in thousands of U.S. dollars except shares) Number of Shares Cost Fair value Investment in equity securities 1,476,280 $ 3,667 $ 3,656 (1) During the six months ended June 30, 2019, the investee effected a 5-for-1 reverse stock split.
Movement of Equity Securities	The movement of the equity investment during the six months ended June 30, 2019 is summarized below: June 30, 2019 Beginning of period $ 3,656 Unrealized gain/(loss) (802 ) End of period $ 2,854

Construction in progress (Table

Construction in progress (Tables)	6 Months Ended
	Jun. 30, 2019
Construction in Progress [Abstract]
Construction in Progress Activity	The Company’s construction in progress activity during the six months ended June 30, 2019 is detailed below: June 30, 2019 Balance at beginning of period $ 254,700 Additions 168,101 Transferred to property, plant and equipment, net (Note 10) (97,973 ) Balance at end of period $ 324,828

Property, plant and equipment_2

Property, plant and equipment, net (Tables)	6 Months Ended
	Jun. 30, 2019
Property, plant and equipment, net [Abstract]
Property, Plant and Equipment, Net	As of June 30, 2019 and December 31, 2018 the Company’s property, plant and equipment, net consisted of the following: June 30, 2019 December 31, 2018 LNG liquefaction facilities $ 66,526 $ 65,631 Gas terminals 59,453 — Gas pipelines 30,658 — ISO containers and other equipment 20,773 15,873 Land 16,588 12,779 Leasehold improvements 8,054 7,229 Vehicles 1,329 1,178 Computer equipment 846 741 Accumulated depreciation (12,970 ) (9,391 ) Total property, plant and equipment, net $ 191,257 $ 94,040

Intangible assets (Tables)

Intangible assets (Tables)	6 Months Ended
	Jun. 30, 2019
Intangible assets [Abstract]
Composition of Intangible Assets	The following table summarizes the composition of intangible assets as of June 30, 2019 and December 31, 2018: June 30, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Useful Life Shannon LNG leases and permits $ 42,685 $ 677 $ 42,008 40 to 91 Total intangible assets $ 42,685 $ 677 $ 42,008 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Useful Life Shannon LNG leases and permits $ 43,191 $ 134 $ 43,057 40 to 91 Total intangible assets $ 43,191 $ 134 $ 43,057

Finance leases, net (Tables)

Finance leases, net (Tables)	6 Months Ended
	Jun. 30, 2019
Finance leases, net [Abstract]
Components of Direct Finance Leases	The components of the direct finance leases as of June 30, 2019 and December 31, 2018 are as follows: June 30, 2019 December 31, 2018 Finance leases $ 298,904 $ 306,832 Unearned income (206,214 ) (213,682 ) Total finance leases, net $ 92,690 $ 93,150 Current portion $ 1,025 $ 943 Non-current 91,665 92,207

Other non-current assets (Table

Other non-current assets (Tables)	6 Months Ended
	Jun. 30, 2019
Other non-current assets [Abstract]
Other Non-Current Assets	As of June 30, 2019 and December 31, 2018, other non-current assets consisted of the following: June 30, 2019 December 31, 2018 Easements $ 1,446 $ 1,159 Port access rights 12,206 12,671 Initial lease costs 8,702 9,200 Nonrefundable deposit 10,970 10,810 Upfront payments to customers 6,329 — Other 6,708 1,415 Total other non-current assets $ 46,361 $ 35,255

Accrued liabilities (Tables)

Accrued liabilities (Tables)	6 Months Ended
	Jun. 30, 2019
Accrued liabilities [Abstract]
Accrued Liabilities	As of June 30, 2019 and December 31, 2018 accrued liabilities consisted of the following: June 30, 2019 December 31, 2018 Accrued construction costs $ 16,870 $ 41,343 Accrued IPO costs — 5,296 Accrued vessel charter costs 2,160 — Accrued bonuses 10,600 12,582 Other accrued expenses 12,442 8,291 Total $ 42,072 $ 67,512

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings per share [Abstract]
Earnings Per Share	Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Numerator: Net loss $ (51,233 ) $ (111,525 ) Less: net loss attributable to non-controlling interests 45,047 91,782 Net loss attributable to Class A shares $ (6,186 ) $ (19,743 ) Denominator: Weighted-average shares - basic and diluted 22,114,002 18,154,939 Net loss per share - basic and diluted $ (0.28 ) $ (1.09 )
Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive	The following table presents potentially dilutive securities excluded from the computation of diluted net loss per share for the periods presented because its effects would have been anti-dilutive. June 30, 2019 Unvested RSUs (1) 3,959,725 Class B shares (2) 147,058,824 Shannon Equity Agreement shares (3) 1,432,208 Total 152,450,757 (1) Represents the number of instruments outstanding at the end of the period. (2) Class B shares at the end of the period are considered potentially dilutive Class A shares under application of the if-converted method. (3) Class A shares that would be issued in relation to the Shannon LNG Equity agreement.

Share-based compensation (Table

Share-based compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based compensation [Abstract]
RSU Activity	The following table summarizes the RSU activity for the six months ended June 30, 2019: Restricted Stock Units Weighted- average grant date fair value per share Non-vested RSUs as of December 31, 2018 — $ — Granted 5,404,823 13.48 Vested and shares issued (1,284,383 ) 13.53 Forfeited (160,715 ) 13.51 Non-vested RSUs as of June 30, 2019 3,959,725 $ 13.46

Leases, as lessee (Tables)

Leases, as lessee (Tables)	6 Months Ended
	Jun. 30, 2019
Leases, as lessee [Abstract]
Lease Terms	Lease Term Rent Escalation Land site lease¹ 5 year initial term; 5 year renewal option 2.5% per annum Marine port berth lease 10 year initial term; annual renewal option for up to 10 years 15% after year 5 Marine port berth lease 20 year initial term; no renewal option No escalation LNG vessel time charter 24 month initial term; 3 month renewal option No escalation LNG vessel time charter 7 year initial term ; no renewal option 2% per annum after year 3 LNG vessel time charter 15 year initial term; non-cancellable for the first 3 years; 5 year renewal option No escalation Office space lease 7 year initial term ; two 5-year renewal options 3% per annum Office space lease 1 year renewal option 5% per annum 1 Refer to “Note 21. Related party transactions” for additional detail.

Related party transactions (Tab

Related party transactions (Tables)	6 Months Ended
	Jun. 30, 2019
Related party transactions [Abstract]
Due to/from Affiliates	The tables below summarizes the balances outstanding with affiliates at June 30, 2019 and December 31, 2018: June 30, 2019 December 31, 2018 Amounts due to affiliates $ 6,329 $ 4,481 Amounts due from affiliates 1,022 890

Organization (Details)

Organization (Details)	6 Months Ended
	Jun. 30, 2019Segment
Organization [Abstract]
Number of operating segment	1

Significant accounting polici_3

Significant accounting policies (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 01, 2019	Feb. 04, 2019	Jun. 30, 2019	Jun. 30, 2018
Basis of presentation and principles of consolidation [Abstract]
Net proceeds from initial public offering			$ 274,948	$ 0
Percentage of voting and non-economic interest		88.00%
Percentage of economic interest in NFI		88.00%
Class A [Member] | IPO [Member]
Basis of presentation and principles of consolidation [Abstract]
Shares issued in initial public offering (in shares)	837,272	20,000,000
IPO price per share (in dollars per share)	$ 14	$ 14
Net proceeds from initial public offering	$ 11,000	$ 257,000
Shares outstanding (in shares)	20,837,272
Underwriting discounts and commissions	$ 700
Class B [Member] | IPO [Member]
Basis of presentation and principles of consolidation [Abstract]
Number of shares exchanged (in shares)		147,058,824	147,058,824
Shares outstanding (in shares)		147,058,824	147,058,824

Revenue from contracts with c_3

Revenue from contracts with customers (Details) $ in Thousands	Jun. 30, 2019USD ($)
Contract with Customer, Asset and Liability [Abstract]
Receivables, revenue from contracts with customers	$ 31,562
Contract liability	973
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	3,119,776
Capitalized Contract Cost [Abstract]
Capitalized contract costs	3,335
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 58,981
Remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 159,053
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 164,789
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 164,645
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 164,724
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 2,407,584
Remaining performance obligation, expected timing of satisfaction, period

Fair value (Details)

Fair value (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019		Jun. 30, 2019		Dec. 31, 2018
Assets [Abstract]
Total	$ 260,872		$ 260,872		$ 104,509
Liabilities [Abstract]
Total	26,604		26,604		26,759
Loss (gain) from derivative liability fair value adjustment	478		(155)
Market Approach [Member]
Assets [Abstract]
Cash and cash equivalents	200,306		200,306		78,301
Restricted cash	57,712		57,712		22,552
Investment in equity securities	2,854		2,854		3,656
Income Approach [Member]
Liabilities [Abstract]
Derivative liability	9,937	[1]	9,937	[1]	9,835
Equity agreement	16,667	[2]	16,667	[2]	16,924
Level 1 [Member]
Assets [Abstract]
Total	260,872		260,872		104,509
Liabilities [Abstract]
Total	0		0		0
Level 1 [Member] | Market Approach [Member]
Assets [Abstract]
Cash and cash equivalents	200,306		200,306		78,301
Restricted cash	57,712		57,712		22,552
Investment in equity securities	2,854		2,854		3,656
Level 1 [Member] | Income Approach [Member]
Liabilities [Abstract]
Derivative liability	0	[1]	0	[1]	0
Equity agreement	0	[2]	0	[2]	0
Level 2 [Member]
Assets [Abstract]
Total	0		0		0
Liabilities [Abstract]
Total	0		0		0
Level 2 [Member] | Market Approach [Member]
Assets [Abstract]
Cash and cash equivalents	0		0		0
Restricted cash	0		0		0
Investment in equity securities	0		0		0
Level 2 [Member] | Income Approach [Member]
Liabilities [Abstract]
Derivative liability	0	[1]	0	[1]	0
Equity agreement	0	[2]	0	[2]	0
Level 3 [Member]
Assets [Abstract]
Total	0		0		0
Liabilities [Abstract]
Total	26,604		26,604		26,759
Level 3 [Member] | Market Approach [Member]
Assets [Abstract]
Cash and cash equivalents	0		0		0
Restricted cash	0		0		0
Investment in equity securities	0		0		0
Level 3 [Member] | Income Approach [Member]
Liabilities [Abstract]
Derivative liability	9,937	[1]	9,937	[1]	9,835
Equity agreement	$ 16,667	[2]	$ 16,667	[2]	$ 16,924
[1]	Consideration due to the sellers of Shannon LNG (as defined in "Note 11. Intangible Assets" below) once first gas is supplied from the terminal to be built.
[2]	To be paid in shares at the earlier of agreed-upon date in 2020 or the commencement of significant construction activities specified in the Shannon LNG Agreement.

Restricted cash (Details)

Restricted cash (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Restricted Cash [Abstract]
Collateral for performance under customer agreements	$ 15,126	$ 15,095
Collateral for LNG purchases	35,000	927
Collateral for letters of credit	7,297	6,238
Other restricted cash	289	292
Total restricted cash	57,712	22,552
Current restricted cash	19,252	30
Non-current restricted cash	$ 38,460	$ 22,522

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory [Abstract]
LNG and natural gas inventory	$ 19,010	$ 15,611
Materials, supplies and other	613	348
Total	$ 19,623	$ 15,959

Investment in equity securiti_3

Investment in equity securities, Number of Shares, Cost and Fair Value of Investment (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)shares		Dec. 31, 2018USD ($)shares
Investment in equity securities [Abstract]
Number of shares (in shares) | shares	295,256	[1]	1,476,280
Cost	$ 3,667		$ 3,667
Fair value	$ 2,854		$ 3,656
Reverse stock split	0.2
[1]	During the six months ended June 30, 2019, the investee effected a 5-for-1 reverse stock split.

Investment in equity securiti_4

Investment in equity securities, Movement of Available-for-sale Investment (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Investment in equity securities [Abstract]
Beginning of period		$ 3,656
Unrealized gain/(loss)	$ (1,698)	(802)
End of period	$ 2,854	$ 2,854

Construction in progress (Detai

Construction in progress (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Construction in Progress [Roll Forward]
Balance at beginning of period	$ 254,700
Additions	168,101
Transferred to property, plant and equipment, net (Note 10)	(97,973)
Balance at end of period	324,828
Interest costs capitalized	$ 9,111	$ 0

Property, plant and equipment_3

Property, plant and equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Property, Plant and Equipment, Net, by Type [Abstract]
Accumulated depreciation	$ (12,970)		$ (12,970)		$ (9,391)
Total property, plant and equipment, net	191,257		191,257		94,040
Depreciation	1,983	$ 910	3,563	$ 1,767
Cost of Sales [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Depreciation	147	$ 178	305	$ 339
LNG Liquefaction Facilities [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property, plant and equipment, gross	66,526		66,526		65,631
Gas Terminals [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property, plant and equipment, gross	59,453		59,453		0
Gas Pipelines [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property, plant and equipment, gross	30,658		30,658		0
ISO Containers and Other Equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property, plant and equipment, gross	20,773		20,773		15,873
Land [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property, plant and equipment, gross	16,588		16,588		12,779
Leasehold Improvements [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property, plant and equipment, gross	8,054		8,054		7,229
Vehicles [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property, plant and equipment, gross	1,329		1,329		1,178
Computer Equipment [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property, plant and equipment, gross	$ 846		$ 846		$ 741

Intangible assets (Details)

Intangible assets (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended	6 Months Ended
	Dec. 31, 2018	Jun. 30, 2019	Jun. 30, 2019
Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 43,191	$ 42,685	$ 42,685
Accumulated Amortization	134	677	677
Net Carrying Amount	43,057	42,008	$ 42,008
Weighted average remaining amortization period for intangible assets			39 years 7 months 17 days
Amortization		274	$ 543
Shannon LNG Leases and Permits [Member]
Intangible Assets, Net [Abstract]
Gross Carrying Amount	43,191	42,685	42,685
Accumulated Amortization	134	677	677
Net Carrying Amount	$ 43,057	$ 42,008	$ 42,008
Shannon LNG Leases and Permits [Member] | Minimum [Member]
Intangible Assets, Net [Abstract]
Useful Life	40 years		40 years
Shannon LNG Leases and Permits [Member] | Maximum [Member]
Intangible Assets, Net [Abstract]
Useful Life	91 years		91 years

Finance leases, net (Details)

Finance leases, net (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Finance leases, net [Abstract]
Finance leases	$ 298,904	$ 306,832
Unearned income	(206,214)	(213,682)
Total finance leases, net	92,690	93,150
Current portion	1,025	943
Non-current	$ 91,665	$ 92,207

Other non-current assets (Detai

Other non-current assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)SalesContract	Dec. 31, 2018USD ($)
Other non-current assets [Abstract]
Easements	$ 1,446	$ 1,159
Port access rights	12,206	12,671
Initial lease costs	8,702	9,200
Nonrefundable deposit	10,970	10,810
Upfront payments to customers	6,329	0
Other	6,708	1,415
Total other non-current assets	$ 46,361	$ 35,255
Number of sales contracts | SalesContract	2
Payments made to contracts under agreement	$ 5,000
Additional payments made to contracts under agreement	$ 1,350

Accrued liabilities (Details)

Accrued liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accrued liabilities [Abstract]
Accrued construction costs	$ 16,870	$ 41,343
Accrued IPO costs	0	5,296
Accrued vessel charter costs	2,160	0
Accrued bonuses	10,600	12,582
Other accrued expenses	12,442	8,291
Total accrued liabilities	$ 42,072	$ 67,512

Debt (Details)

Debt (Details) $ in Thousands	Mar. 21, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)Extension	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)Lender
New Term Loan Facility [Abstract]
Term loan facility		$ 490,523		$ 490,523		$ 272,192
Initial borrowing amount				220,000	$ 0
Amortization of debt issuance costs				2,589	339
New Term Loan Facility [Member]
New Term Loan Facility [Abstract]
Aggregate principal amount						$ 500,000
Number of lenders | Lender						2
Initial borrowing amount	$ 220,000					$ 280,000
Outstanding borrowings		500,000		500,000
Debt instrument, basis spread on variable rate						4.00%
Additional fees paid		4,400		4,400
Unamortized deferred financing cost		6,977		6,977
Amortization of debt issuance costs		3,166	$ 165	5,230	339
Capitalized costs		$ 1,558	$ 0	$ 2,641	$ 0
New Term Loan Facility [Member] | Interest Rate [Member]
New Term Loan Facility [Abstract]
Debt instrument, basis spread on variable rate						1.00%
Maturity date				Dec. 31, 2019
Debt instrument, frequency of periodic payment				quarterly
Debt instrument, periodic payment				$ 1,250
Number of extensions for maturity date | Extension				2
Additional extended maturity period				6 months
Increase in interest rate						0.50%
Percentage of fee payable in outstanding principal for extension of maturity date		1.00%		1.00%
New Term Loan Facility [Member] | Federal Funds Rate [Member]
New Term Loan Facility [Abstract]
Debt instrument, basis spread on variable rate						0.50%
New Term Loan Facility [Member] | LIBOR [Member]
New Term Loan Facility [Abstract]
Debt instrument, basis spread on variable rate						1.00%
Debt instrument, term of variable rate				1 month
Interest rate plus spread						3.00%

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Nov. 09, 2018
Provision / (Benefit) for the Taxes on Income [Abstract]
Deferred tax asset	$ 44,473		$ 44,473
Effective tax rate	(0.30%)	(1.51%)	(0.36%)	(0.31%)
Tax expense	$ 155	$ 280	$ 401	$ 93
Uncertain tax positions	$ 0		$ 0
Jamaica [Member]
Provision / (Benefit) for the Taxes on Income [Abstract]
Statutory tax rate			25.00%
Ireland [Member]
Provision / (Benefit) for the Taxes on Income [Abstract]
Net operating loss carryforwards					$ 41,395

Commitments and contingencies (

Commitments and contingencies (Details) $ in Thousands	Dec. 31, 2016USD ($)
Commitments and contingencies [Abstract]
Tangible personal property tax accrued	$ 1,204

Earnings per share (Details)

Earnings per share (Details) $ / shares in Units, $ in Thousands		Feb. 04, 2019shares	Feb. 04, 2019USD ($)shares	Mar. 31, 2019USD ($)	Jun. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Jun. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2018USD ($)
Numerator [Abstract]
Net loss | $			$ (8,003)	$ (52,289)	$ (51,233)	$ (18,825)	$ (10,913)	$ (111,525)	$ (29,738)
Net loss attributable to non-controlling interest | $					45,047	0		91,782	0
Net loss attributable to stockholders | $					$ (6,186)	$ (18,825)		$ (19,743)	$ (29,738)
Denominator [Abstract]
Weighted-average shares-basic and diluted (in shares)					22,114,002			18,154,939
Net loss per share - basic and diluted (in dollars per share) | $ / shares					$ (0.28)			$ (1.09)
Subsidiary, Sale of Stock [Line Items]
Stock split issued and outstanding shares effected in connection with IPO								0.2
Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive [Abstract]
Anti-dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)								152,450,757
Class B [Member]
Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive [Abstract]
Anti-dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)	[1]							147,058,824
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Stock split issued and outstanding shares effected in connection with IPO								2.16
IPO [Member] | Class B [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares exchanged (in shares)		147,058,824						147,058,824
Shares outstanding (in shares)		147,058,824	147,058,824		147,058,824			147,058,824
Unvested RSU [Member]
Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive [Abstract]
Anti-dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)	[2]							3,959,725
Shannon Equity Agreement [Member]
Dilutive Securities Excluded from Computation of Diluted Net Loss Per Share Effects Presented in Anti-dilutive [Abstract]
Anti-dilutive securities excluded from computation of diluted weighted average shares outstanding (in shares)	[3]							1,432,208
[1]	Class B shares at the end of the period are considered potentially dilutive Class A shares under application of the if-converted method.
[2]	Represents the number of instruments outstanding at the end of the period.
[3]	Class A shares that would be issued in relation to the Shannon LNG Equity agreement.

Share-based compensation (Detai

Share-based compensation (Details) - Restricted Stock Units [Member] $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2019USD ($)$ / sharesshares
Share-based Compensation Expenses [Abstract]
Reversal of compensation expense | $		$ 56
Number of Shares [Roll Forward]
Non-vested RSUs, beginning balance (in shares) | shares		0
Granted (in shares) | shares		5,404,823
Vested and shares issued (in shares) | shares		(1,284,383)
Forfeited (in shares) | shares		(160,715)
Non-vested RSUs, ending balance (in shares) | shares	3,959,725	3,959,725
Weighted Average Grant Date Fair Value Per Share [Abstract]
Non-vested RSUs, beginning balance (in dollars per share) | $ / shares		$ 0
Granted (in dollars per share) | $ / shares		13.48
Vested and shares issued (in dollars per share) | $ / shares		13.53
Forfeited (in dollars per share) | $ / shares		13.51
Non-vested RSUs, ending balance (in dollars per share) | $ / shares	$ 13.46	$ 13.46
Recognized compensation expense | $	$ 8,971	$ 28,008
Unrecognized compensation cost | $	42,629	$ 42,629
Weighted-average remaining vesting period of non-vested stock (in years)		1 year 6 months 11 days
Selling, General and Administrative Expenses [Member]
Weighted Average Grant Date Fair Value Per Share [Abstract]
Recognized compensation expense | $	8,711	$ 27,679
Operations and Maintenance [Member]
Weighted Average Grant Date Fair Value Per Share [Abstract]
Recognized compensation expense | $	$ 260	$ 329
Minimum [Member]
Weighted Average Grant Date Fair Value Per Share [Abstract]
Vesting period		10 months
Maximum [Member]
Weighted Average Grant Date Fair Value Per Share [Abstract]
Vesting period		3 years

Leases, as lessee (Details)

Leases, as lessee (Details) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)RenewalOption	Jun. 30, 2018USD ($)
Leases [Abstract]
Rental expense | $		$ 8,939	$ 6,810	$ 17,376	$ 11,295
Land Site Lease [Member]
Leases [Abstract]
Initial lease term	[1]	5 years		5 years
Renewal of lease term	[1]	5 years		5 years
Percentage of annual lease payment escalation	[1]			2.50%
Marine Port Berth Lease One [Member]
Leases [Abstract]
Initial lease term		10 years		10 years
Renewal of lease term		10 years		10 years
Percentage of annual lease payment escalation				15.00%
Lease payment escalation term				5 years
Marine Port Berth Lease Two [Member]
Leases [Abstract]
Initial lease term		20 years		20 years
Renewal of lease term		0 years		0 years
LNG Vessel Time Charter One [Member]
Leases [Abstract]
Initial lease term		24 months		24 months
Renewal of lease term		3 months		3 months
LNG Vessel Time Charter Two [Member]
Leases [Abstract]
Initial lease term		7 years		7 years
Renewal of lease term		0 years		0 years
Percentage of annual lease payment escalation				2.00%
Lease payment escalation term				3 years
LNG Vessel Time Charter Three [Member]
Leases [Abstract]
Initial lease term		15 years		15 years
Renewal of lease term		5 years		5 years
Non-cancellable lease term				3 years
Office Space Lease One [Member]
Leases [Abstract]
Initial lease term		7 years		7 years
Renewal of lease term		5 years		5 years
Percentage of annual lease payment escalation				3.00%
Number of renewal options | RenewalOption				2
Office Space Lease Two [Member]
Leases [Abstract]
Renewal of lease term		1 year		1 year
Percentage of annual lease payment escalation				5.00%
[1]	Refer to "Note 21. Related party transactions" for additional detail.

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Related party transaction [Abstract]
Administrative and general expenses		$ 1,742	$ 377	$ 4,520	$ 724
Charter costs		649	358	1,625	591
Amount due to affiliates		6,329		6,329		$ 4,481
Amounts due from affiliates		$ 1,022		$ 1,022		890
DevTech Investment [Member]
Related party transaction [Abstract]
Minority interest percentage in exchange for cash consideration		10.00%		10.00%
Percentage of note payable purchased by affiliate	10.00%
Note payable due		$ 1,073		$ 1,073		755
Interest expense on note payable		24		46
Amounts due from affiliates		665		665		365
Fortress [Member]
Related party transaction [Abstract]
Amount due to affiliates		5,707		5,707		3,579
Florida East Coast Industries [Member]
Related party transaction [Abstract]
Amount due to affiliates		0		0		597
Land and building expense		112	71	758	117
Florida East Coast Industries [Member] | Selling, General and Administrative Expenses [Member]
Related party transaction [Abstract]
Land and building expense		38	0	223	0
Florida East Coast Industries [Member] | Construction in Progress [Member]
Related party transaction [Abstract]
Land and building expense				386	0
Florida East Coast Industries [Member] | Construction in Progress [Member] | Operations and Maintenance [Member]
Related party transaction [Abstract]
Land and building expense		74	$ 71	149	$ 117
Fortress Affiliated Entities [Member]
Related party transaction [Abstract]
Amount due to affiliates		622		622		305
Amounts due from affiliates		$ 357		$ 357		$ 525

Related party transactions, Due

Related party transactions, Due to/from Affiliates (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Related party transactions [Abstract]
Amounts due to affiliates	$ 6,329	$ 4,481
Amounts due from affiliates	$ 1,022	$ 890

Subsequent events (Details)

Subsequent events (Details) - Subsequent Event [Member] - South Power [Member] $ in Thousands	Aug. 12, 2019USD ($)
Secured and Unsecured Bonds [Member]
Senior Secured and Unsecured Bonds [Abstract]
Debt instrument, maximum borrowing capacity	$ 180,000
Senior Secured Bonds [Member]
Senior Secured and Unsecured Bonds [Abstract]
Debt instrument, issuable	72,000
Debt instrument, issuable upon completion of certain conditions	$ 63,000
Fixed interest rate	8.25%
Maturity period	15 years
Non-payment of principal due period	7 years
Frequency of payments	Quaterly
Percentage of quarterly principal payment	1.60%
Percentage of balloon payment due upon maturity	50.00%
Senior Unsecured Bonds [Member]
Senior Secured and Unsecured Bonds [Abstract]
Debt instrument, issuable	$ 45,000
Fixed interest rate	11.00%
Maturity period	17 years
Non-payment of principal due period	9 years
Frequency of payments	Quaterly
Senior Unsecured Bonds [Member] | Maximum [Member]
Senior Secured and Unsecured Bonds [Abstract]
Debt instrument, issuable	$ 50,000