Golar Power partners with Galileo and introduces Bio-LNG in Brazil
July 06 2020 - 12:01PM
Golar Power Limited (“Golar Power”) announces
today that it has signed an agreement with Galileo Technologies for
the provision of LNG liquefaction solutions to support the
development of its small-scale LNG distribution initiatives. The
agreement between the two companies includes the introduction of a
new clean fuel source through the production of Biomethane
Liquefied Natural Gas (Bio-LNG).
The initial order involves the provision of two
LNG production clusters. The first cluster contemplates two LNG
production units capable of producing 30 tons of LNG per day from a
mature gas field in the Brazilian state of Bahia. The second
cluster will be installed in the state of Sao Paulo, where it will
capture and liquefy biomethane from landfills. This cluster will
have an initial production capacity of up to 15 tons of Bio-LNG per
day. Operations are expected to start in 2020.
Golar Power is tapping new biomethane sources to
increase the share of local LNG production and to accelerate the
energy transition toward a cleaner energy chain with a lower carbon
footprint. It also continues to innovate with the development of
proprietary technologies for LNG truck loading stations as well as
LNG filling solutions using Ship-to-ISO-containers, that once
distributed through the road network, will deliver LNG to feed
power stations, natural gas distribution companies, industries, as
well as light and heavy vehicles.
Eduardo Antonello, Golar Power CEO commented:
“The agreement with Galileo further expands Golar Power’s
participation in the LNG chain. It is also a first step
toward the development of new domestic LNG sources in the Brazilian
market. The combination of our strategically located import and
regasification terminals and extensive distribution network via the
partnership with BR Distribuidora is expected to place us in a
unique position to reliably serve customers throughout Brazil. The
economics of this business are solid and represent a unique
showcase for what could be replicated worldwide. With
increasing focus on CO2 emissions and carbon taxes, the opportunity
to produce and distribute Bio Methane from landfills has the
potential to be a significant global growth market in the years to
come”.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking
statements (as defined in Section 21E of the Securities Exchange
Act of 1934, as amended) which reflects management’s current
expectations, estimates and projections about its operations. All
statements, other than statements of historical facts, that address
activities and events that will, should, could or may occur in the
future are forward-looking statements. Words such as “may,”
“could,” “should,” “would,” “expect,” “plan,” “anticipate,”
“intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,”
“potential,” “continue,” or the negative of these terms and similar
expressions are intended to identify such forward-looking
statements.
These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and
other factors, some of which are beyond our control and are
difficult to predict. Therefore, actual outcomes and results may
differ materially from what is expressed or forecasted in such
forward-looking statements. You should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. Unless legally required, Golar LNG Limited
and Golar Power undertake no obligation to update publicly any
forward-looking statements whether as a result of new information,
future events or otherwise.
As a result, you are cautioned not to rely on
any forward-looking statements. Actual results may differ
materially from those expressed or implied by such forward-looking
statements. Golar LNG Limited and Golar Power undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise unless required by law
Hamilton, Bermuda
July 6, 2020
Enquiries:
Golar Management Limited: + 44 207 063 7900
Eduardo Maranhao
Stuart Buchanan
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