Shearman & Sterling advises Golar Power on Sergipe LNG-to-power project

Shearman & Sterling advises Golar Power on Sergipe LNG-to-power project
Image courtesy of Golar LNG

New York headquartered law firm Shearman & Sterling said it is serving as Golar Power’s advisor in connection with the development of Porto de Sergipe LNG-to-power project in Brazil. 

The law firm said in a statement its team has been working with Golar Power on all aspects of the project since April 2015.

To remind, Golar Power reached a final investment decision in October, enabling Celse, the project company, to enter into a lump sum turn-key EPC agreement with General Electric to build, maintain and operate the 1.5 GW combined cycle power plant.

The company has also chartered the FSRU Golar Nanook for a period of 25 years. The vessel is scheduled for delivery in November 2017.

Liquefied natural gas will be delivered to the FSRU by Ocean LNG under a long-term agreement. Deliveries of 1.3 mtpa of liquefied natural gas to Celse are set to start in 2020.

Golar Power has also increased its participating interest in Celse from 25 percent to 50 percent.

Golar Power is a 50/50 joint venture between Golar LNG and Stonepeak Infrastructure Partners, launched in July to develop, own and operate LNG-based transportation and downstream solutions including LNG carriers, FSRU and associated terminal and power generation infrastructure.

 

LNG World News Staff

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