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Petrobras Considers Mothballing Ceara Thermal Plant, LNG Terminal

Reuters, September 26, 2016
Reuters

Brazil's state-controlled oil company Petrobras fears problems with its LNG regasification terminal in Ceara state and a nearby thermoelectric plant could force it to mothball the assets, which it put up for sale earlier this year, according to documents seen by Reuters on Friday.

The documents the company filed to the oil regulator ANP said the Ceara state infrastructure secretariat plans to use the area of the company's LNG terminal for other purposes, which would also prompt it to shutdown the assets operations.

Petrobras said in the documents that the power plant that is linked to the regasifaction terminal at the port of Pecem has also struggled with "innumerable problems", especially with flaws in its turbines.

The TermoCeara thermoelectric plant originally belonged to MPX, which used to belong to former billionaire Eike Batista but was purchased by Petrobras in 2005 for $137 million.

 

(Reporting by Luciano Costa; Writing by Reese Ewing; Editing by Sandra Maler)

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