Page 12 - LatAmOil Week 22 2022
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LatAmOil                                          BRAZIL                                            LatAmOil




























                                                          Porto do Sergipe TPP, shown in December 2019 (Image: CELSE)
                         The deal provides for Eneva to pay BRL6.1bn   for the Porto do Sergipe TPP. “We look forward
                         ($1.27bn) in cash for 100% of shares in Centrais   to maintaining a long-term relationship with
                         Elétricas de Sergipe Participações (CELSEPAR),   Eneva and the CELSE power plant,” he said.
                         the owner of the TPP’s equity assets, and 100%   “Eneva is one of Brazil’s leading power compa-
                         of shares in Centrais Elétricas Barra dos Coque-  nies and a highly capable long-term owner and
                         iros (CEBARRA), the owner of the right to add   operator of this critical power asset for north-
                         1,700 MW of new capacity to the plant at an   east Brazil. NFE will continue to operate the
                         adjacent site, for a total implied enterprise value   Golar Nanook, a floating storage and regasifi-
                         of BRL10.2bn ($2.13bn).              cation unit that remains chartered to CELSE for
                           “Pursuant to the terms of the transaction,   the next 20 years.”
                         Eneva will be assuming the current debt of Cen-  Meanwhile, Pedro Zinner, the CEO of Eneva,
                         trais Elétricas de Sergipe (CELSE), the 100%   stressed the advantages of making gas more
                         owned subsidiary of CELSEPAR,” the statement   widely available in the region. “CELSE will play
                         noted. NFE is on track to net about $550mn   a critical role for Eneva’s strategy going forward,”
                         from the deal following the paydown of certain   he said.
                         debts, liabilities and transaction expenses, it   “With multiple options embedded and a
                         added.                               significant thermal power plant pipeline to be
                           The parties expect to close the transaction in   developed, it will allow Eneva to focus on what
                         the second half of this year, provided that they   it does best: developing new business oppor-
                         secure approval from Brazil’s anti-trust agency   tunities in Brazil, having the access to gas as a
                         CADE and other relevant government bodies,   cornerstone. This can be the beginning of a very
                         NFE stated.                          fruitful and long-lasting relationship between
                           Wes Edens, the chairman and CEO of NFE,   two companies which have complementary
                         noted that the sale would not affect his compa-  roles in the gas value chain.”
                         ny’s operation of the floating storage and regasi-  The TPP is located in Barra dos Coqueiros
                         fication unit (FSRU) that takes delivery of LNG   and has a generating capacity of 1,593 MW. ™


       Eneva signs long-term LNG supply deal




       with paper manufacturer in Maranhão






                         ENEVA, a privately owned Brazilian energy   to an industrial consumer and said that ship-
                         company, announced last week that it had   ments were expected to begin in the first half of
                         signed a long-term LNG supply contract with   2024, after the completion of a new small-scale
                         Suzano, a local pulp and paper manufacturer.  gas liquefaction plant in Maranhão State.
                           In a statement, Eneva said it had agreed to   The company explained that it intended to
                         deliver LNG to Suzano for 10 years. It described   spend BRL530mn on the construction of an
                         the contract as the first deal in Brazil that would   LNG unit at its Parnaiba gas-to-power (GTP)
                         involve direct deliveries of LNG from a producer   complex in Santo Antonio dos Lopes.



       P12                                      www. NEWSBASE .com                           Week 22   02•June•2022
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