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3/24/2022 Partnerships

SHV Energy signs agreement for Brazil terminal

SHV Energy, through its Brazilian subsidiary Supergasbras, signed an agreement with Porto do Pecém, in São Gonçalo do Amarante, State of Ceará, Brazil, to investigate the future construction of an LPG storage terminal.

The potential investment, estimated to be BRL 920 million (approximately €170 million), will substantially increase storage capacity in the Brazilian Northeast region and significantly improve the primary LPG supply infrastructure for the region, benefiting the Brazilian market. The planned storage capacity is 40,000 metric tons.

The initiative is part of SHV Energy’s strategic plan for investing in infrastructure and ensuring long-term supply security for its customers. Today, 20% of LPG consumed in Brazil is imported. The agreement guarantees Supergasbras the required land area and jetty access for the project, while it undertakes in-depth engineering studies.

“Brazil is an important market for SHV Energy. We believe that investing in infrastructure is paramount for the emerging new primary supply scenario in the country. With the ongoing privatisation of refineries and the reduced import participation of former monopolist Petrobras, SHV Energy will make sure LPG customers across the country can rely on the strength of our supply chain,” said Michael Kossack, Management Board Member and Chief Operating Officer of SHV Energy.