- Golar Power Ltd., a joint venture between Golar LNG (GLNG +2.6%) and Stonepeak Infrastructure Partners, says it plans to team with Norsk Hydro (OTCQX:NHYDY) to develop the first liquefied natural gas terminal in the north of Brazil.
- The project will enable the supply of LNG to Norsk Hydro's Alunorte, which will be the first operational customer for the Barcarena FSRU that Golar Power plans to bring into operation in H1 2022.
- Golar says the LNG terminal aims to supply gas to Alunorte and to the Centrais Elétricas Barcarena 605 MW thermal power plant, which is a subsidiary of Golar Power; once the terminal becomes operational, Golar Power also expects to operate a comprehensive LNG distribution network in the region.
- The companies expect a final investment decision on the project in 4-6 months.
- Previously: Cameroon in talks with Golar, Gazprom for LNG production (May 27)