Eneva Signs Natural Gas Supply Contract With Suzano and Will Invest R$ 530 Million in Production in the Parnaíba Basin

The Million-Dollar Investment Aimed at Natural Gas Production in the Parnaíba Basin Will Be Made After the Fuel Supply Contract with Suzano in the State of Maranhão, the First Industrial Partnership of Eneva in Brazil

The company Eneva announced last Wednesday (05/25) a liquefied natural gas (LNG) supply contract for Suzano’s unit in the municipality of Imperatriz, in the state of Maranhão. With this, the company will make a total investment of R$ 530 million for its fuel production in the Parnaíba Basin, with new facilities aimed at the new business with Suzano.

Eneva Signs Its First Industrial Natural Gas Supply Contract for Suzano’s Operations in the State of Maranhão

Eneva took another step in its quest for growth in the fuel sector in Brazil and signed a contract with Suzano for the supply of natural gas to its Imperatriz unit in the state of Maranhão. Thus, the company has marked its first fuel supply contract with an industrial company since the beginning of its natural gas production in Brazilian territory. 

This is because the company currently relies on its own supply of energy and gas projects as the main focus of its natural gas production, and with the contract with Suzano, it expands its horizons in the Brazilian market. Furthermore, the fuel supply agreement established with Suzano has a duration of ten years from the beginning of commercial supply, expected in the first half of 2024.

Therefore, after starting the supply to the unit in Maranhão, it will be able to begin its investments to expand production focused on the new business. And, as a way to meet the natural gas that will be supplied to Suzano under the new contract, Eneva will implement a new investment plan in its fuel production in the Parnaíba Basin.

Thus, there will be financial contributions of around R$ 530 million for improvements in production infrastructure and installation of new structures to make the entire fuel exploration chain even more efficient. This is because Eneva needs to ensure even greater production over the coming years for the supply of gas to Suzano. 

Company Will Invest R$ 530 Million Over the Coming Years in Its Natural Gas Production in the Parnaíba Basin After Contract Signed with Suzano 

After signing its first industrial supply deal with Suzano, Eneva announced that it will invest in the Parnaíba Basin to supply natural gas for the agreement. Thus, a total of R$ 530 million will be applied to the installation of a liquefied natural gas unit in the complex, which will have an installed capacity of 300,000 m3/day, mainly aimed at serving Suzano and new potential customers in the Maranhão region. 

In addition, the company also announced that it will build an import terminal in São Luís, Maranhão. Eneva’s main idea is to develop new hubs aimed at the commercialization of natural gas in the region and seek innovative companies for the segment. Finally, it plans to connect the natural gas terminal to the Parnaíba Complex through a gas pipeline of about 300 km in length over the next few years. 

Thus, the contract with Suzano has given Eneva a new perspective for growth within the natural gas market in Brazil, and with the planned investments, the company intends to invest in the supply and refueling sector for companies focused on the industrial segment in the country.