Brazil: Prumo to buy Bolognesi Energia’s LNG-fueled power project

Brazil’s Prumo Logística, part of the EIG Global Energy Partners, has signed an agreement with Bolognesi Group to buy the Novo Tempo gas-fired power plant. 

Local media report the company will look to transfer the project from the Pernambuco state to its Port of Acu in the Rio de Janeiro state where it is looking to develop a liquefied natural gas (LNG) hub.

In a notice sent to the Brasilian stock exchange, Prumo informed it has signed a contract with UTE Novo Tempo for the transfer of the authorization for the construction and operation of a 1,238 MW thermal power plant.

In addition to the construction authorization, Prumo would also take over 37 energy trading agreements, Novo Tempo signed with energy distribution companies.

In 2015, Bolognesi Group signed contracts with Duro Felguera do Brasil and General Electric International for the construction of two gas-fired combined cycle power plants valued at €800 million ($895 million).

Each plant would consume 5.5 million cubic meters of gas per day, provided by the LNG regasification terminals with a capacity of 14 million cubic meters per day, also to be built by Bolognesi Energia. The supply of LNG would take place under a 25-year contract with a major international producer.

It is unclear whether the construction and LNG supply deals would be maintained by Prumo.

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LNG World News Staff