For $102 Million, Petrobras Signs Contract for Leasing LNG Terminal in Bahia

Petrobras Explains That the GNL Terminal Lease Contract in Bahia State Is Valid Until December 2023

Last Tuesday (28/09), Petrobras signed a lease contract with Excelerate for the Regasification Terminal of GNL in Bahia (TR-BA) and associated facilities, totaling approximately R$ 102 million. Petrobras explains that the lease contract for the GNL terminal in Bahia state is valid until December 2023, “in addition to other associated accessory contracts.” Also read this news: For R$ 95 million, Petrobras Sells 3 Thermoelectric Plants in Camaçari, Bahia

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The Lease of the GNL Terminal in Bahia

Following the conclusion of the negotiation, Excelerate is seeking, with Petrobras’ support, the transfer of the necessary licenses and authorizations for the operation of a new regasification vessel at the terminal located in Bahia state, according to Petrobras. “As soon as the new company is ready to operate, Petrobras will relocate its regasification vessel currently at TR-BA to the GNL Regasification Terminal in Pecém, Ceará,” the state-owned company states.

Previously, to help Brazil deal with the hydropower crisis, Petrobras moved its regasification vessel from the Pecém terminal to the Bahia terminal, in a move that allowed for a greater supply of thermal electricity.

The concession of the terminal in Bahia is part of an agreement between Petrobras and the antitrust agency Cade, as the company committed to assist in opening the gas market in the country. Located in All Saints Bay, Petrobras’ GNL terminal in Bahia has a maximum regasification capacity of 20 million cubic meters per day.

Check Out This News: Petrobras Begins Sale Phase of Deten Química, Located in the Camaçari Industrial Hub, Bahia

Petrobras informs that it has completed the non-binding phase regarding the sale of its total 27.88% stake in Deten Química, located in the industrial hub of Camaçari, Bahia. The company is starting today the binding phase of the project.

The state-owned company has already concluded the non-binding phase initiated in July. According to Petrobras, potential buyers of the company located in the Camaçari Hub, Bahia, qualified for this phase will receive an invitation letter with instructions on the divestment process, including guidelines for conducting due diligence and submitting binding proposals.

Deten produces and sells key raw materials for the production of biodegradable liquid and powder detergents. According to Petrobras, the company located in the Camaçari Hub, Bahia, is the only national producer of Linear Alkylbenzene (LAB), a precursor to Linear Alkylbenzene Sulfonic Acid (LABSA), of which it is also a manufacturer and that acts as an active component of household dishwashing detergent. The company also produces Heavy Alkylate (ALP), used in lubricating additives and textile oil.