Page 9 - GLNG Week 06 2021

GLNG AMERICAS GLNG

Chinese company joins Brazilian

LNG-to-power project

INVESTMENT CHINA’S State Power Investment Corp. (SPIC) MW, is likely to become operational. It said in its
has completed its acquisition of a stake in Gas statement, though, that it had secured a financ-
Natural Açu (GNA), Latin America’s largest ing agreement worth $737mn with the Brazilian
LNG-to-power project. Development Bank (BNDES) for this part of the
Members of the GNA joint venture said in a project. According to
statement earlier this month that the deal had Additionally, it noted that SPIC had finalised
been finalised. As a result, they said, the Chinese an agreement that will allow it to participate in previous reports,
company will acquire a 33% stake in GNA’s two the future expansion of the Açu Gas Hub. This
thermal power plants (TPPs), both of which are document lays the foundation for the Chinese the total cost
currently under construction, and the infra- company to help build two more TPPs – GNA-
structure facilities that make up the Açu Gas III and GNA-IV, which will have a capacity of of establishing
Hub complex. This facility includes an LNG 1,700 MW each – at the complex, it explained. the four TPPs
regasification terminal in the port of Açu in Rio According to previous reports, the total cost
de Janeiro State, as well as a pipeline linking the of establishing the four TPPs and associated and associated
terminal to the TPPs, which will be known as infrastructure may hit $5bn.
GNA-I and GNA-II. GNA’s founding members are Siemens (Ger- infrastructure
This development puts SPIC in position to many), BP (UK) and Prumo, a private Brazilian
benefit from the launch of GNA-I, the first TPP entity controlled by EIG Global Energy Partners. may hit $5bn.
slated to open at the complex. This 1,300-MW Siemens is building the TPPs, while Prumo is
plant is due to come online before the end of June operating the BW Magna FSRU. BP, for its part,
this year and already has access to the fuel it will is supplying the terminal, which can handle the
need. “The first LNG cargo, supplied by BP, was equivalent of 21mn cubic metres per day of nat-
successfully transferred to the BW Magna float- ural gas, with LNG.
ing storage and regasification unit (FSRU) on “SPIC’s contribution to this partnership is
December 27, 2020,” the statement noted. centred on its expertise in operation and pro-
GNA has not yet revealed when GNA-II, ject management strategy in Brazil,” the state-
which will have a generating capacity of 1,700 ment said.™

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