Petrobras leases two FSRUs from Golar LNG

Petroleo Brasileiro SA (Petrobras) has leased two floating storage and regasification units (FSRUs) from Golar LNG Ltd. for use at LNG receiving terminals at Guanabara Bay in Rio de Janeiro state, and Pecém in Ceará.

Uchenna Izundu
International Editor

LONDON, Apr. 25 -- Petroleo Brasileiro SA (Petrobras) has leased two floating storage and regasification units (FSRUs) from Golar LNG Ltd. for use at LNG receiving terminals at Guanabara Bay in Rio de Janeiro state, and Pecém in Ceará.

The contracts are for 10 years with a 5-year extension. "The estimated contract value (excluding the option period) is approximately $860 million," said Golar LNG.

The ships—Golar Spirit and Golar Winter—will be able to transport LNG to Petrobras's terminals and regasify the LNG onboard.

"The ships will be moored to an island-type pier (Guanabara Bay) and to an existing pier (Pecém). Both will be installed in sheltered waters, close to the transport network and to consumer markets. A pipeline will connect the pier to the coast, where the natural gas transport line will be integrated into the company's gas pipelines system, and will be supplied by supply vessels," Petrobras said.

Petrobras said the FSRUs are an important component in their strategy to access flexible and diverse gas supplies for the thermoelectric generation market needs.

The Guanabara Bay LNG receiving terminal will be located near three large plants (Barbosa Lima Sobrinho, Leonel Brizola, and Mário Lago) to meet thermoelectric demand. The Pecém terminal, besides supplying the thermoelectric plants TermoFortaleza, TermoCeará, and Jesus Soares Pereira, will also supply part of the northeastern industrial market.

Golar Spirit, which has a regasification capacity of as much as 7 million cu m/day, is expected to start operations in first-half 2008. Golar Winter, with a regasification capacity of as much as 14 million cu m/day of gas, will follow in second-quarter 2009.


Contact Uchenna Izundu at uchennai@pennwell.com

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