New Ceo for Hygo Energy Transition
- Oct 15, 2020 8:10 am GMTOct 15, 2020 1:49 pm GMT
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Hygo Energy Transition, the company which is building the Barcarena LNG terminal in Brazil, has appointed Paul Hanrahan as its new Chief Executive Officer.
Hanrahan, who takes on his new role on Monday (19 October), was previously the CEO of Globeleq, an independent power producer in Africa. He has also served as President and CEO of The AES Corporation and CEO of American Capital Energy and Infrastructure Management.
In a statement issued yesterday (12 October), Golar LNG which co-owns Hygo Energy with Stonepeak Infrasstructure Partners said that Hanrahan is replacing Eduardo Antonello, who is stepping down from his role with Hygo effective immediately.
Golar LNG added: 'The board accepted the resignation of Mr. Antonello and his wish to protect and isolate Hygo from any misleading interpretation caused by recent allegations involving Mr. Antonello for actions taken prior to his work for Hygo.
Media reports suggest that this is a veiled reference to the ongoing Car Wash legal investigation into alleged corruption in the Brazilian energy sector.
Golar LNG also used yesterdays statement about Hanrahans appointment to announce that Hygo and Norsk Hydro have mutually agreed to terminate a memorandum of understanding (MoU) to supply LNG to the Alunorte alumina refinery from the Barcarena terminal.
However, Golar LNG added that: Hygo remains committed to the Barcarena Terminal and its plans will not be affected by the termination of the MoU with Hydro.
The Barcarena LNG Terminal is the only one permitted in the region and Golar LNG believes that it will support environmentally responsible and sustainable industrial growth throughout this immense region.
Golar LNG added: Hygo estimates a potential for replacing approximately 1.8 million tonnes of LNG equivalents per annum of LPG, diesel, fuel oil, and coal from the terminal creating the foundation for a broader transition away from carbon-intensive energy sources in the region.
Hygo has secured 25 year PPAs for a 605MW power station and has received the necessary permits and has been awarded the port concession, to start building the LNG import terminal in the area.
Construction on the terminal is expected to start shortly with commencement of operations in the first half of 2022.
As previously reported by Bunkerspot, Golar LNG has been working with Avenir LNG to develop the small-scale LNG market in Brazil, and their service offerings will include LNG bunkering.