Page 12 - LatAmOil Week 22 2022

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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