Alunorte will also be the first operational customer for the Barcarena FSRU that Golar Power plans to bring into operation during the first half of 2022.

Concluding final agreements with Norsk Hydro will therefore be an important step toward a Final Investment Decision within the next 4 to 6 months.

The LNG terminal aims to supply gas to Alunorte and also to the Centrais Elétricas Barcarena 605 MW thermal power plant, which is a subsidiary of Golar Power, previously contracted under a 25-year PPA.

Once the terminal becomes operational, Golar Power also expects to operate a comprehensive LNG distribution network across the state of Pará and the region. This LNG supply chain will cover an area larger than Eastern Europe and consist of thousands of kilometres of river and road transportation systems, serving numerous industrial, commercial, and transportation customers.

The project will fulfil Norsk Hydro’s 2017 commitment to the Pará state government to pursue a natural gas-based energy solution for one of the world’s largest aluminium plants. The project will enable the use of cleaner burning natural gas from LNG, and, consequently, reduce annual greenhouse gas and particulate emissions substantially.

CEO of Golar Power, Eduardo Antonello, commented on the occasion:

We are delighted to be helping Norsk Hydro achieve its ambitious global sustainability goal of reducing CO2 emissions by 30% by 2030, and at the same time contributing to a significant reduction in energy prices and environmental emissions within the entire North Region of Brazil