Excelerate Energy confirmed that it had concluded the tender process negotiation stage for the lease of Brazil’s Bahia regasification terminal.
The negotiations were conducted with operator Petróleo Brasileiro (Petrobras).
Once the financial and legal qualification and certification stages have been concluded and all necessary regulatory approvals have been obtained, Excelerate will start importing LNG, the company said.
To operate the terminal, Excelerate will deploy one of its FSRUs at the terminal.
“Petrobras’ decision to advance in the tender for leasing the Bahia regasification terminal to Excelerate is an important milestone in the process of promoting competition in the Brazilian natural gas sector,” said Steven Kobos, Excelerate’s President and CEO.
“We understand that increasing access to flexible LNG supply is critical to stabilising Brazil’s energy system, especially during adverse weather events, such as the current severe drought.
“Petrobras has trusted Excelerate with critical services for years, and we expect to continue to support Petrobras’ efforts to increase LNG access for the Brazilian energy market. We are pro-actively engaging with customers to assess their natural gas requirements and co-ordinating with Petrobras to ensure a timely and seamless transition of service,” he said.
Excelerate has provided regasification services at Petrobras’ LNG terminals in Bahia, Guanabara Bay, and Pecém since 2012. In September, 2020, Excelerate’s FSRU ‘Experience’ broke an industry record for send-out capacity by reaching 1.06 bill cu ft at the Guanabara Bay regasification terminal.
