Golar unit and ExxonMobil in LNG deal

A proposed power plant along the coast of Brazil could use US-sourced LNG in future.

A subsidiary of Golar LNG signed a framework agreement for supplying LNG to a natural gas-fired power plant being developed in the Brazilian state of Sergipe.

Golar GenPower Brasil, a joint venture between LNG Power, Golar and GenPower, signed the heads of terms deal with ExxonMobil Titan LNG covering the supply of LNG to the approximately 1,500-megawatt Porto de Sergipe project. 

Exxon Mobil Titan LNG is a joint venture with Qatar Petroleum for the offtake of LNG from the proposed Golden Pass LNG terminal in the US Gulf Coast, which Exxon Mobil hopes to make into an export terminal.

The agreement also establishes a framework for LNG to be supplied exclusively from ExxonMobil for expansion phases and other projects that Golar GenPower is pursuing in Brazil.  The LNG supply is conditional on execution of a fully termed LNG sale and purchase agreement.  Golar GenPower intends to bid at the upcoming 2016 Leilao A-5 power auction.

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