10-Year Strategic Contract Between Petrobras and Excelerate Energy Is Signed for LNG Supply in Brazil

Written by Roberta Souza

Published on 19/10/2023 at 19:21

Terminal de Regaseificação de GNL/ Fonte: Bahia de Valor

Be the first to react!

The Contract Signed Between Petrobras and Excelerate Energy Aims to Boost LNG Supply in Brazil

Excelerate Energy, a liquefied natural gas (LNG) company based in Texas, signed a 10-year charter agreement with Petrobras, the Brazilian state giant in the oil and gas sector. This contract reaffirms the strong partnership between the two companies and aims to boost LNG supply to Brazil, particularly at the Bahia Regasification Terminal located in Salvador. Excelerate Energy has played a crucial role in the Brazilian energy landscape since 2012, providing regasification services at Petrobras’ LNG import terminals, according to Offshore Energy.

Sequoia: A Strategic Asset for Excelerate Energy and Brazil

The core of this agreement is the Sequoia floating storage and regasification unit (FSRU). This massive FSRU with a capacity of 173,400 cubic meters joined Excelerate’s fleet in June 2020, after being delivered as a new build. The partnership between Excelerate and Petrobras extends for over a decade, and this 10-year contract is a key step in promoting Excelerate’s long-term sustainable growth in South America.

Steven Kobos, President and CEO of Excelerate, commented on the importance of this contract: “Brazil is an excellent market. This agreement is an important step in promoting Excelerate’s long-term sustainable growth plan in South America. The deployment of Sequoia for an additional 10 years will position Excelerate well to support Brazil’s efforts to strengthen its energy security. We have been a reliable partner to Petrobras for over a decade and are committed to maintaining that partnership and supporting the energy transition for all Brazilians.”

ARTICLE CONTINUES BELOW

Expanding Excelerate Energy and Ensuring Reliable Energy for Brazil

Maintaining a consistent presence in the Brazilian market is a vital part of Excelerate’s strategy as a reliable supplier for the country’s energy system. Renewable energy, which accounts for about 85% of Brazil’s energy matrix, requires flexibility and security in LNG supply. Excelerate has been a reliable partner for Petrobras in this quest for reliable energy and efficiency.

Moreover, this agreement not only strengthens Excelerate Energy’s commitment to Petrobras, but it also expands the company’s core business in regasification. This not only ensures profit predictability but also establishes sustainable cash flows in the short and long term, which is crucial in a constantly evolving energy market.

Last year, Excelerate Energy partnered with South Korean shipyard Hyundai Heavy Industries to build a new FSRU. Scheduled for delivery in June 2026, this new FSRU will have a storage capacity of 170,000 cubic meters, further strengthening Excelerate’s position in supplying LNG to Brazil and, by extension, the global energy market.

10-Year Strategic Contract Between Petrobras and Excelerate Energy Is Signed for LNG Supply in Brazil

The Contract Signed Between Petrobras and Excelerate Energy Aims to Boost LNG Supply in Brazil

Sequoia: A Strategic Asset for Excelerate Energy and Brazil

Expanding Excelerate Energy and Ensuring Reliable Energy for Brazil

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

New microwave that can replace three appliances hits the market: Sharp launches 3-in-1 model that combines air fryer, convection oven, and heating in 0.9 cubic feet for small kitchens

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

Elon Musk’s internet comes to mobile: Starlink technology connects smartphones without an antenna via satellite, works even without carrier signal, already costs just US$10 extra in the US, and could arrive in Brazil as an included benefit.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

The United Kingdom removed approximately 1.8 million cubic meters of sand from the seabed and is depositing it all on 6 kilometers of beaches in Norfolk, in a mega-operation to curb erosion, protect coastal villages, and shield a vital gas terminal against the encroaching Atlantic.

The world’s deltas are sinking under human pressure: a study in Nature analyzes 40 regions and shows how groundwater, lack of sediments, and urbanization are lowering the ground where millions live.

While families count their losses from the war in Iran, oil companies, banks, and weapon manufacturers report record profits in the first quarter, and even the renewable energy sector soars with trading and market volatility.

WEG inaugurates an industrial paint distribution center, reinforces its presence in Latin America with high-tech anticorrosive solutions, and expands regional service capacity from Bogotá, offering greater agility and proximity to the market in Colombia.

The 90 cm rule that almost no one follows in washing machines causes the drainage hose to create a siphon effect, wasting water every cycle, and increasing the bill at the end of the month.

Pulp megafactory enters its heavy phase: 14,000 workers will be mobilized in the coming months in the small Brazilian town

10-Year Strategic Contract Between Petrobras and Excelerate Energy Is Signed for LNG Supply in Brazil

The Contract Signed Between Petrobras and Excelerate Energy Aims to Boost LNG Supply in Brazil

Sequoia: A Strategic Asset for Excelerate Energy and Brazil

Expanding Excelerate Energy and Ensuring Reliable Energy for Brazil

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

New microwave that can replace three appliances hits the market: Sharp launches 3-in-1 model that combines air fryer, convection oven, and heating in 0.9 cubic feet for small kitchens

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

Elon Musk’s internet comes to mobile: Starlink technology connects smartphones without an antenna via satellite, works even without carrier signal, already costs just US$10 extra in the US, and could arrive in Brazil as an included benefit.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

The United Kingdom removed approximately 1.8 million cubic meters of sand from the seabed and is depositing it all on 6 kilometers of beaches in Norfolk, in a mega-operation to curb erosion, protect coastal villages, and shield a vital gas terminal against the encroaching Atlantic.

Brazil discovers natural hydrogen in four states and enters the silent race that could redraw the energy transition: Petrobras has already invested R$ 20 million in studies.

Trump promises transparency in Venezuela’s oil, but secret deals and corruption allegations continue to surround the billion-dollar sector.

Oil near US$100 raises tension on Wall Street and amplifies global fear about inflation, energy, and the Middle East crisis

Oil moves trillions worldwide, dominates energy generation, and continues to be a strategic resource for major global powers.

United States intercepts six Iranian vessels in the Strait of Hormuz and April ceasefire is once again threatened

The world’s deltas are sinking under human pressure: a study in Nature analyzes 40 regions and shows how groundwater, lack of sediments, and urbanization are lowering the ground where millions live.

While families count their losses from the war in Iran, oil companies, banks, and weapon manufacturers report record profits in the first quarter, and even the renewable energy sector soars with trading and market volatility.

WEG inaugurates an industrial paint distribution center, reinforces its presence in Latin America with high-tech anticorrosive solutions, and expands regional service capacity from Bogotá, offering greater agility and proximity to the market in Colombia.

The 90 cm rule that almost no one follows in washing machines causes the drainage hose to create a siphon effect, wasting water every cycle, and increasing the bill at the end of the month.

Pulp megafactory enters its heavy phase: 14,000 workers will be mobilized in the coming months in the small Brazilian town