Golar LNG’s joint venture with Stonepeak Infrastructure Partners, Hygo Energy Transition, has named a new chief executive after Eduardo Antonello resigned amid a Brazilian corruption investigation.
Golar said this week that Hygo appointed Paul Hanrahan as CEO effective October 19. He will also join the board of directors of Hygo.
Hanrahan brings to the role extensive international business experience as the former CEO of The AES Corporation.
He also served as CEO of American Capital Energy and Globeleq.
Hanrahan is replacing Eduardo Antonello who is stepping down from his role with Hygo, effective immediately.
“The board accepted the resignation of Antonello and his wish to protect and isolate Hygo from any misleading interpretation caused by recent allegations involving Antonello for actions taken prior to his work for Hygo,” the statement said,
Hygo and Norsk Hydro cancel deal
Furthermore, Hygo and Norsk Hydro have mutually agreed to terminate the existing memorandum between the duo signed in July.
Under that deal, Hygo, previously known as Golar Power, agreed to supply LNG to Norsk Hydro’s Alunorte alumina refinery in Brazil.
The refinery would have been the first customer from the planned Barcarena FSRU development.
The Barcarena terminal is the only one permitted in the region and will have the opportunity to significantly reduce energy costs, according to Golar.
Hygo has secured 25 year PPAs for a 605MW power station and has received the necessary permits to start building the LNG import terminal in the area.
Golar says it remains committed to the Barcarena terminal and the termination of the deal with Hydro will not affect the development.
The firm plans to start construction soon with start of operations planned in the first half of 2022.