Petrobras on Leasing of the LNG Regasification Terminal

Source: 9/29/2020, Location: South America

Petrobras, in response to Official Letter 7132/2020/CGAA4/SGA1/SG/CADE, dated September 29, 2020, and further to the notice disclosed on August 3, 2020 about the lease of the LNG Regasification Terminal in Bahia (TR-BA) and associated facilities, hereby declares its commitment to waive all the capacity of the São Sebastião do Passé-BA, and São Francisco do Conde-BA receipt points during the period of the lease, under the terms of the applicable regulation, in an instrument to be indicated by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) and subject to Petrobras' internal approval procedures.

Additionally, in accordance with items 2.2 and 2.2.1 of the commitment agreement SEI/CADE 0634895, entered into between the Brazilian Antitrust Authority (CADE) and Petrobras on July 8, 2019, Petrobras ratifies its commitment to comply with the limits indicated to the ANP and transporters in relation to inflow and outflow volumes at each receipt point and delivery zone when gas is nominated.

About the terminal
The TR-BA consists of an inshore terminal with all the required facilities for mooring a Floating Storage and Regasification Unit (FSRU) Vessel and an LNG Supply Vessel in a side-by-side configuration. The maximum regasification flow rate of TR-BA is 20 million m³/day (@ 1 atm and 20°C). The FSRU is not part of the TR-BA lease process.

The integrated pipeline is 45 km long and 28 inches in diameter and connects TR-BA to two delivery points, São Francisco do Conde Pressure Reducing Station and São Sebastião do Passé Flow Control Station.

The scope of the transaction also includes the equipment for power generation and supply located at the Madre de Deus Waterway Terminal (TEMADRE), members of the TR-BA.

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