US-listed liquefied natural gas floating storage and regasification unit (FSRU) specialist New Fortress Energy has secured a charter with Brazilian energy giant Petrobras starting next month.
New Fortress confirmed this definitive agreement with Petrobras, saying that the FSRU Energos Winter would be immediately deployed to Terminal Gas Sul (TGS), its newest LNG import terminal in Santa Catarina, Brazil, which will start commercial operations ahead of schedule in January 2024.
The Energos Winter will be sub-chartered by New Fortress through the remaining term of the Petrobras charter with Energos Infrastructure, and then directly chartered by New Fortress on a long-term basis with Energos.
“This will enable us to commence commercial operations at TGS in January 2024 and continue uninterrupted service on a long-term basis,” commented New Fortress, without specifying the duration of its direct charter.
Energos Infrastructure, which owns the 138,250-cubic metre storage capacity FSRU Energos Winter, is itself owned 80% by funds managed by Apollo and 20% by New Fortress.
“The TGS terminal is a unique, high-growth opportunity for New Fortress, as connection to the pipeline system in south Brazil offers a diverse and near-term set of opportunities across power and gas supply," commented the company’s managing director, Andrew Dete.
New Fortress cautioned that the transactions above, financial details of which are being kept under wraps, are “subject to customary terms and conditions”.