Major developments at 3GW LNG project in Brazil

EIG Global Energy Partners (“EIG”), the controlling shareholder of Prumo Logística S.A. (“Prumo”), a private Brazilian company leading the energy infrastructure hub at Port of Açu in Brazil, announced major developments at Prumo.

Among them, Gas Natural Açu (“GNA”), a joint venture among Prumo, BP and Siemens focused on the development and operation of sustainable energy and gas projects, has satisfied the conditions precedent required to draw on the previously announced US$750 million project financing led by IFC, KfW and the Brazilian National Development Bank. GNA will apply the loan proceeds toward the completion of the construction of the 1.3 GW first phase of GNA’s LNG-to-power complex (“GNA I”).

Additionally, the development of the second phase of the complex, a 1.7 GW LNG-to-power project known as GNA II, is already underway and energy contracts have been secured.

Upon completion, GNA I and GNA II will have 3 GW of installed capacity—enough to supply energy for up to 14 million households—making it the largest gas-to-power project in Latin America.

GNA I project and the LNG import terminal are expected to start commissioning by March 2020.

In addition, GNA is developing offshore pipelines, gas processing facilities and a liquids export terminal for pre-salt gas, and onshore pipelines connecting Açu to the gas pipeline grid. Total investment for the first two phases of the GNA LNG-to-power complex is estimated to be in excess of US$2 billion.

Açu, the largest port-energy-industry complex in Brazil, also includes an oil hub, strategically important for the export of pre-salt oil, as well as processing, blending and storage.