Golar GenPower, ExxonMobil Sign LNG Supply Deal for Power Project in Brazil
Golar GenPower Brasil Participacoes S.A. (Golar GenPower), a joint venture between LNG Power Limited (UK), a standalone non-recourse subsidiary of Golar LNG Limited and GenPower Participacoes S.A., disclosed Friday that it has signed a framework agreement for the supply of liquefied natural gas (LNG) to the natural gas fired power generation project it is developing in the Brazilian state of Sergipe.
Golar GenPower and ExxonMobil Titan LNG Limited (ExxonMobil) have agreed heads of terms covering the supply of LNG to the approximately 1,500 megawatts (MW) Porto de Sergipe project. The agreement also establishes a framework for LNG to be supplied exclusively from ExxonMobil for expansion phases and other projects that Golar GenPower is pursuing in Brazil. The LNG supply is conditional on execution of a fully termed LNG Sale and Purchase Agreement (SPA). Golar GenPower intends to bid at the upcoming 2016 Leilao A-5 Power Auction.
This framework agreement is a significant step towards a positive final investment decision on the Porto de Sergipe project which Golar GenPower hope will be the first of several Brazilian opportunities jointly delivered over the coming years.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 13 Offshore Rigs
- ExxonMobil Says Julia, Hadrian South Operations Back To Normal After Nate (Oct 10)
- Iraq's Talks with Exxon on Southern Oilfields in Final Stages-Minister (Oct 09)
- U.S. Gulf Oil Producers Start Evacuating Staff Ahead of Tropical Storm Nate (Oct 05)
Company: Golar LNG more info
- Ophir Holdings, OneLNG to Establish JOC for Fortuna Project (Nov 10)
- Golar GenPower, ExxonMobil Sign LNG Supply Deal for Power Project in Brazil (Mar 07)
- Golar LNG and Schlumberger Ink MOU (Jan 25)