Golar GenPower and ExxonMobil Titan LNG Ltd sign framework agreement for LNG supply
Golar GenPower Brasil Participações S.A. ("Golar GenPower"), a joint venture between LNG Power Limited (UK), a standalone non-recourse subsidiary of Golar LNG Limited and GenPower Participações S.A., has announced that it has signed a framework agreement for the supply of LNG to the natural gas fired power generation project it is developing in the Brazilian state of Sergipe.
Golar GenPower and ExxonMobil Titan LNG Limited ("ExxonMobil") have agreed heads of terms covering the supply of LNG to the approximately 1,500MW Porto de Sergipe project. The agreement also establishes a framework for LNG to be supplied exclusively from ExxonMobil for expansion phases and other projects that Golar GenPower is pursuing in Brazil. The LNG supply is conditional on execution of a fully termed LNG Sale and Purchase Agreement ("SPA"). Golar GenPower intends to bid at the upcoming 2016 Leilao A-5 Power Auction.
