New Fortress Energy has cleared major regulatory hurdles in obtaining an export permit from Mexico’s government for its first Altamira Fast LNG project, but subsequent deals will determine Mexico’s potential as a key liquefied natural gas export country.

The project is one of several under development along the Gulf of Mexico coastline, but Altamira is moving beyond regulatory and financial barriers while a few in the US are facing difficulties in securing finances ahead of final investment decisions.

The success of New Fortress — headed by chief executive Wes Edens — is in part due to the company’s ability to fund its operations on its own balance sheet, rather than relying on securing customers before moving ahead with investment and construction.