New Fortress, Norsk Hydro finalize terms for Brazil LNG deal

US LNG player New Fortress Energy said it has executed definitive commercial terms with a unit of Norway’s Norsk Hydro to supply natural gas to the Alunorte alumina refinery in Brazil.

The deal follows a memorandum of understanding signed by the duo in April this year.

NFE said in a statement on Thursday it expects to supply Hydro with 29.5 TBtu of natural gas annually or equivalent to about 1 million gallons of LNG per day for a period of 15 years.

The firm’s Barcarena LNG receiving and regasification terminal located in the state of Para, Brazil, will supply the fuel to the refinery. It acquired the FSRU-based project via the Golar deal that included Hygo.

According to NFE, the Barcarena terminal would be ready to supply natural gas at the beginning of the first quarter of 2022.

Also, Hydro should complete the conversion of the Alunorte refinery from fuel oil to natural gas by the first quarter of 2023.

The agreement is still subject to the execution of definitive agreements, final build decision, and approval by Hydro, NFE said.

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