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    Petrobras transfers Bahia LNG import terminal to Excelerate


The Bahia regasification terminal can import up to 700mn ft3/day of gas

by: Daniel Graeber

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

Petrobras transfers Bahia LNG import terminal to Excelerate

Brazilian energy company Petrobras announced December 6 that it transferred the operation of the Bahia regasification terminal over to a regional subsidiary of US-based Excelerate Energy.

Petrobras said it signed an instrument of acceptance for the transfer over to Excelerate Energy Comercializadora de Gas Natural, the Brazilian subsidiary of the Texas-based LNG company.

“Petrobras supported Excelerate in obtaining the necessary licenses and authorisations, also complying with the precedent conditions in the lease agreement for the operation of the terminal,” Petrobras stated. "Excelerate's regasification vessel is positioned at the (terminal), and with the transfer of the operation, Excelerate is able to make natural gas available to the market.”

Pre-qualified companies were invited in April to bid for leases of the facility’s island pier that can accommodate berthing of a floating storage regasification unit (FSRU). Among the other pre-qualified companies were Repsol LNG, BP Energy do Brasil, Compass gas e Energia, Total Gas & Eletricidade do Brasil, Eneva, Shell, Excelerate Energy and BG do Brasil.

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.

The US-based Excelerate Energy was initially disqualified from the tender process in June for not following the rules. Before that, Petrobras had difficulty in attracting bidders to the terminal.

The lease agreement, Petrobras said, is symbolic of the Brazilian effort to open up its energy space to private investors.