Eneva announced the discovery of a new gas field, which will result in an increase of more than 10% in the total reserves held by the company. This will open new opportunities for expansion at the company‘s facilities, as well as in the limited-scale liquefied gas sales business.
The forecast is that the Gavião Mateiro field, located in the Parnaíba Basin in the Northeast of the country, will have 5.4 billion cubic meters of gas. Considering the company’s typical recovery factor, about 85% of this value should be transformed into reserves.
Eneva had total gas reserves of 45 billion cubic meters before the discovery, with 29.5 billion cubic meters located in the Parnaíba Basin and 14.3 billion cubic meters located in the Azulão Complex.
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According to an analyst covering the company, the discovery is significant not only for the size of the deposit but also for the fact that it opens a new growth front for Parnaíba.
He also mentioned that the integrity of the entire reserve discovered in Parnaíba may already be compromised, depending on how the plants are harvested in the coming years.
With the Discovery of New Gas Reserves, Eneva Has the Capacity to Expand the Supply of Liquefied Natural Gas to Large Corporations
With the additional reserves, Eneva will be able to monetize this gas in B2B, just as they did with Vale and Suzano, whether by providing liquefied natural gas on a limited scale or participating in the capacity auction with a new gas-fired power plant.
Eneva will be able to enable the Parnaíba I and III plants for power re-contracting in the auctions that will take place later in 2023, thanks to the discovery of the new reserves. In these two plants, the contracts governing the sale of energy will expire only in 2027.
The other Parnaíba plants, II, IV, V, and VI, have longer contracts, expiring only in 2036, 2042, 2048, and 2049.
With the discovery of additional reserves, Eneva now has the capacity to expand the supply of liquefied natural gas on a more modest scale.
In this configuration, the gas is first subjected to a liquefaction procedure and then delivered to large corporations operating in the area. Supply contracts have already been finalized with the giants, Vale and Suzano.

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