U.S. Markets closed
  • S&P 500

    3,911.74
    +116.01 (+3.06%)
     
  • Dow 30

    31,500.68
    +823.32 (+2.68%)
     
  • Nasdaq

    11,607.62
    +375.43 (+3.34%)
     
  • Russell 2000

    1,765.74
    +54.06 (+3.16%)
     
  • Crude Oil

    107.06
    +2.79 (+2.68%)
     
  • Gold

    1,828.10
    -1.70 (-0.09%)
     
  • Silver

    21.13
    +0.09 (+0.42%)
     
  • EUR/USD

    1.0559
    +0.0034 (+0.3273%)
     
  • 10-Yr Bond

    3.1250
    +0.0570 (+1.86%)
     
  • Vix

    27.23
    -1.82 (-6.27%)
     
  • GBP/USD

    1.2270
    +0.0009 (+0.0736%)
     
  • USD/JPY

    135.2100
    +0.2770 (+0.2053%)
     
  • BTC-USD

    21,377.20
    +64.64 (+0.30%)
     
  • CMC Crypto 200

    462.12
    +8.22 (+1.81%)
     
  • FTSE 100

    7,208.81
    +188.36 (+2.68%)
     
  • Nikkei 225

    26,491.97
    +320.72 (+1.23%)
     

UPDATE 1-Brazil's Eneva to supply LNG to pulpmaker Suzano

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

(Adds more details on deal)

SAO PAULO, May 25 (Reuters) - Brazilian energy company Eneva SA said on Wednesday it had signed a contract to supply liquefied natural gas (LNG) to pulpmaker Suzano starting in 2024.

Eneva said it will invest around 530 million reais ($109.87 million) to install a natural gas liquefaction unit at its Parnaiba Basin complex in the northern Brazilian state of Maranhao, using reserves from its nearby gas fields.

The LNG unit is expected to have installed capacity of 300,000 cubic meters per day.

Most of the LNG from the unit will be directed to Suzano's industrial facilities, located in the same state, but also to "new potential customers in the region," according to a securities filing.

The contract is valid for 10 years from the start of commercial supply, which is scheduled for the first half of 2024.

Eneva called the deal "a milestone" for its strategy to expand its natural gas monetization, which includes commercialization of small scale LNG to third parties. ($1 = 4.8238 reais) (Reporting by Carolina Pulice and Peter Frontini; Editing by Christian Plumb)