Golar GenPower signs LNG supply framework agreement

Golar GenPower Brasil Participações S.A. - a joint venture between LNG Power Ltd (UK), a standalone non-recourse subsidiary of Golar LNG Ltd and GenPower Participações S.A. - has signed a framework agreement for the supply of LNG to the natural gas fired power generation project it is developing in Sergipe, Brazil.

Golar GenPower and ExxonMobil Titan LNG Ltd have agreed heads of terms covering the supply of LNG to the Porto de Sergipe project.  The agreement also establishes a framework for LNG to be supplied exclusively from ExxonMobil Titan LNG 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 also confirmed that it 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.

Edited from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquefaction/04032016/golar-genpower-signs-lng-supply-framework-agreement-2077/