Petrobras Sells Stake in GNL Gemini Consortium to White Martins

Written by Flavia Marinho

Published on 25/09/2020 at 16:59

Petrobras vende a totalidade da sua participação na GNL Gemini para White Martins. O consórcio foi criado para comercializar gás natural liquefeito (GNL)

Be the first to react!

Petrobras Sells Its Entire Stake in GNL Gemini to White Martins. The Consortium Was Created to Trade Liquefied Natural Gas (LNG)

At the same time that BR Distribuidora wants to enter the market and negotiates the purchase of 50% of Golar Power to form a partnership in the natural gas market, Petrobras announced in a relevant fact this morning (09/25) that it sold its 40% stake in GásLocal, a company that operates in the transportation of LNG by truck, to White Martins.

Read Also

Additionally, according to Petrobras’s report, an agreement was also signed that settles corporate, arbitration, and legal issues regarding GásLocal’s operations and a contract adjusting commercial conditions for gas supply by the oil company until the end of 2023 as it is part of the Gemini Consortium, which is made up of Petrobras, White Martins, and GásLocal. The adjustments made were not detailed.

According to Petrobras, the operation “is aligned with the strategy of optimizing the portfolio and improving the company’s capital allocation”. The transaction still needs to be approved by CADE (Administrative Council for Economic Defense).

ARTICLE CONTINUES BELOW

Even with Pre-Salt Having the Largest Natural Gas Reserves in the World, Petrobras Will Double LNG Imports Due to Lack of Infrastructure in Brazil

Pre-Salt: Petrobras informed in a relevant fact that it will expand the operational capacity of the liquefied natural gas regasification terminal in Guanabara Bay, Rio de Janeiro to 30 million m³ per day.

Although Brazil is reinjecting about 45% of the gas coming from the pre-salt, the expansion of Petrobras’s liquefied natural gas regasification capacity will be to import the fuel, as the LNG from pre-salt wells has not been economically viable.

When the imported LNG arrives by ship, it needs to be regasified.

For Petrobras to utilize all the natural gas coming from the pre-salt, which is currently being reinjected, more terminals would be needed to transport the fuel to the Brazilian coast. Then, it would connect to a distribution network to the interior of the country, which currently does not exist.

Petrobras Sells Stake in GNL Gemini Consortium to White Martins

Petrobras Sells Its Entire Stake in GNL Gemini to White Martins. The Consortium Was Created to Trade Liquefied Natural Gas (LNG)

Read Also

Even with Pre-Salt Having the Largest Natural Gas Reserves in the World, Petrobras Will Double LNG Imports Due to Lack of Infrastructure in Brazil

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

Webb found a cradle of planets 5,550 light-years away where water almost disappears, and the disk around the star XUE 10 has CO₂ in regions where rocky worlds like Earth should be born, revealing a planetary chemistry very different from that which formed our Solar System.

Couple transforms abandoned land in Portugal, moves a 6-ton tiny house, hides a container on the slope, and builds a 50 m² deck in two days while advancing on the main house surrounded by glass and nature.

Giant trucks with no one in the cabin have already moved more than 8.6 billion tons of rock and ore around the world, equivalent to more than a thousand Great Pyramids, all without a single recorded injury.

To go to school or the doctor, the residents of Point Roberts, an American territory surrounded by Canada, need to cross the border daily.

Baly, a manufacturer from Santa Catarina that surpassed Red Bull and Monster to take the lead in the Brazilian energy drink market in December, is moving forward with the new factory in Araranguá, expected to create over a thousand jobs and begin operations in the second half of 2026.

Petrobras Sells Stake in GNL Gemini Consortium to White Martins

Petrobras Sells Its Entire Stake in GNL Gemini to White Martins. The Consortium Was Created to Trade Liquefied Natural Gas (LNG)

Read Also

Even with Pre-Salt Having the Largest Natural Gas Reserves in the World, Petrobras Will Double LNG Imports Due to Lack of Infrastructure in Brazil

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

While Brazil sits on the pre-salt and still imports diesel, Turkey, which produces almost no oil, crossed half the world to drill 7,500 meters below the sea in Somalia in search of its own fuel.

Why didn’t oil reach $150 even after three months of the Strait of Hormuz being closed?

Farmer drills well in Ceará in search of water, accidentally finds crude oil and sees million-dollar discovery hindered by a rule that completely changes the future of the site.

Family finds oil on a 49-hectare site in Ceará, but exploration has no timeline or guarantee of happening

Webb found a cradle of planets 5,550 light-years away where water almost disappears, and the disk around the star XUE 10 has CO₂ in regions where rocky worlds like Earth should be born, revealing a planetary chemistry very different from that which formed our Solar System.

Couple transforms abandoned land in Portugal, moves a 6-ton tiny house, hides a container on the slope, and builds a 50 m² deck in two days while advancing on the main house surrounded by glass and nature.

Giant trucks with no one in the cabin have already moved more than 8.6 billion tons of rock and ore around the world, equivalent to more than a thousand Great Pyramids, all without a single recorded injury.

To go to school or the doctor, the residents of Point Roberts, an American territory surrounded by Canada, need to cross the border daily.

Baly, a manufacturer from Santa Catarina that surpassed Red Bull and Monster to take the lead in the Brazilian energy drink market in December, is moving forward with the new factory in Araranguá, expected to create over a thousand jobs and begin operations in the second half of 2026.