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Excelerate’s lease contract for the Bahia LNG terminal will terminate in December 2023 (Photo: Bahia Pilots)

Petrobras, Excelerate sign Bahia LNG lease

BRAZIL’S national oil company (NOC) Petro- lease covers assets associated with Bahia LNG
bras said earlier this week that it had signed a – namely, a 45-km pipeline that runs from ter-
leasing contract for the Bahia LNG terminal minal facilities in the port of Bahia to exit points
with US-based Excelerate Energy. in São Francisco do Conde and São Sebastião
In a statement, Petrobras estimated the value do Passé, along with the power-generating facil-
of the deal at BRL102mn ($18.8mn). It also ities in the Madre de Deus Waterway Terminal
noted that the contract would remain in force (TEMADRE).
until December 2023, “in addition to other Excelerate and Petrobras reached agreement
ancillary contracts associated with the process.” on the terms of the leasing contract in August of
The NOC went on to say that it was now this year. The US-based company was the only
working with Excelerate to transfer licences and part to submit an offer for Bahia LNG, though
authorisations for the deployment of a floating it had been one of nine parties pre-qualified to
storage and regasification unit (FSRU) at Bahia participate in the tender. Its first bid was dis-
LNG. Once this milestone is reached, the state- qualified in June, but the NOC later accepted a
ment said, Petrobras will be able to move the revised proposal.
Golar Winter, a 138,000 cubic metre FSRU that This was the second time that Petrobras has
is currently present at the terminal, to another tried to tender the Bahia LNG contract. The first
LNG import facility in Pecém, a port in Ceará attempt failed last year, when the state-owned
State. This will clear the way for Excelerate to company determined that none of the offers it
deploy one of its own FSRUs at Bahia. had received were valid, and the second bidding
According to previous reports, Excelerate’s contest was launched in February 2021. ™

FALKL AND ISL ANDS
Harbour Energy exits controversial

Sea Lion project offshore Falklands

UK-HEADQUARTERED independent Har- not intend to continue working in the region.
bour Energy has said it will pull out of the con- “While the Sea Lion discovery has significant
troversial Sea Lion oil project off the coast of the resource potential, development of the project
Falkland Islands. is not deemed a strategic fit for Harbour,” the
In a recent statement, it explained that it did London-listed firm said in a results statement.

P10 www. NEWSBASE .com Week 39 30•September•2021