Norsk Hydro and Golar Power sign MOU to develop LNG terminal in Pará

Jul 23. 2020

Norwegian Norsk Hydro and electric company Golar Power signed a memorandum of understanding aimed at developing a liquefied natural gas (LNG) terminal in Barcarena, Pará.

The project aims to allow Golar Power to supply gas to the Alunorte aluminum refinery, a Norsk unit near the port of Vila do Conde, also in Barcarena.

Alunorte would be the first operational customer for a floating LNG regasification unit (or FSRU) that Golar Power plans to put into operation in the region in the first half of 2022, the company said.

“The conclusion of final agreements with Norsk Hydro will therefore be an important step towards the start of investments, which should take place in the next 4 to 6 months,” added in a note to Golar Power, a joint venture between Golar LNG and investment firm Stonepeak Infrastructure Partners.

In addition to Alunorte, the LNG terminal will also supply the fuel to supply a 605 megawatt thermal power plant that a Golar Power subsidiary will build in the region and which already has contracts for the sale of production for 25 years, according to the company.

Source: Reuters, 23/0272020

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