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    Brazil’s Eneva, Servtec team up on LNG

Summary

The team said they are looking to develop a terminal at the Port of Itaqui or surrounding areas.

by: Daniel Graeber

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Complimentary, Natural Gas & LNG News, Americas, Liquefied Natural Gas (LNG), Corporate, News By Country, Brazil

Brazil’s Eneva, Servtec team up on LNG

Brazilian energy company Eneva said November 20 it signed a cooperation agreement with local investment firm Servtec to evaluate options for an LNG terminal.

Eneva said the team was exploring the development of a terminal at the Port of Itaqui or surrounding areas. Servtec is already working toward that end and submitted an expression of interest to state regulators.

“The final decision to invest in the terminal is subject to the completion of the assessments and obtaining the necessary licenses and authorisations for the implementation of the project,” Eneva stated.

Under the terms of the agreement Eneva enjoys an exclusivity right until December 2022 and the right of first refusal until December 2023 to develop, manage and explore a future LNG terminal together with Servtec. A joint venture would put Eneva in control with a 51% stake.

Brazil already has LNG regasification capacity. Petrobras in September signed a lease agreement with a Brazilian subsidiary of US-based Excelerate Energy for the LNG regasification terminal at the port of Bahia for $18.8mn.

The Bahia terminal can import up to 700mn ft3/day of gas and is connected to two onshore delivery points via a 45-km pipeline.