Golar GenPower Brazil, LNG Power Limited announce framework agreement

Agreement concerning the supply of LNG in Brazil | Courtesy of Shutterstock

An announcement from Golar GenPower Brazil recently made public the new framework agreement the company has signed with LNG Power Limited. 

The agreement concerns the natural gas-fired power generation project, which Golar is working toward in Sergipe, a Brazilian state, and will allow for LNG's supply to contribute to the project.

The framework states that the liquefied natural gas will be supplied from ExxonMobil as the project progresses and as Golar GenPower moves towards other projects in Brazil. This is due to the terms that GenPower and ExxonMobil Titas LNG Limited have agreed upon, in which LNG will be supplied towards the Porto de Sergipe project.

Though Golar is unable to predict how matters will proceed, it hopes there will be positive outcomes in terms of the investment decision for the Porto de Sergipe project. Furthermore, the company desires future opportunities throughout Brazil, but the results of this particular agreement will depend on numerous factors -- including those outside the company's control and the usual risks associated with such ventures.

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