Golar Power reached a new milestone in the Sergipe Project with the signing of a long-term LNG sale and purchase agreement (SPA) between QP's affiliate, Ocean LNG Limited, and Brazil based CELSE-Centrais Elétricas de Sergipe S.A. ("CELSE"), a joint venture between Golar Power and Ebrasil.

Golar Power enters into long term SPA with Qatar Petroleum Affiliate Ocean LNG Limited

Under the terms of the agreement, Ocean LNG, which was established for the purpose of marketing QP's international LNG supply portfolio sourced outside of the State of Qatar, will supply 1.3 million tons per annum of LNG to CELSE, on an Ex-Ship basis. The shipments, which will begin in 2020 will be for use at CELSE's Porto de Sergipe power project near Aracaju, in the Brazilian state of Sergipe.

Golar Power CEO, Mr. Eduardo Antonello, "This is an important milestone in the development of the Porto de Sergipe power plant. Golar Power is proud to partner with LNG industry pioneers Qatar Petroleum and ExxonMobil and their newly formed Ocean LNG joint venture as its long-term fuel supplier."

Ocean LNG Limited is a joint venture company owned by a QP affiliate (70%) and an ExxonMobil affiliate (30%), and has established a branch office in the Qatar Financial Centre (QFC) in Doha to manage and undertake its activities.

Source: Golar LNG