Excelerate can import up to 30mn m³/d of regasified volumes from any country to be delivered at the Terminal de Regaseificacao de GNL da Bahia (TRBA), owned by state-controlled Petrobras. This authorization was required for Excelerate to operate the TRBA.
Petrobras on on 18 August cleared Excelerate to lease its Bahia regasification terminal in an important step toward opening Brazil's natural gas market.
Petrobras is currently analyzing Excelerate's revised lease proposal to ensure that it meets the required technical criteria. Excelerate presented the new bid in July after Petrobras disqualified its original proposal because of the inclusion of a termination clause.
If the deal moves ahead, Excelerate will take control of the terminal by 31 December.