On August 20, 2019, Brazil’s National Agency for Waterway Transportation (“ ANTAQ”) published Resolution No. 7,117 on the operation of Floating Storage and Regasification Unit (“FSRU”) vessels used for regasification.
According to the resolution, an FSRU that is used as a support facility and not performing any transportation activity: (i) is not classified as performing maritime or port support navigation; (ii) is not considered part of a Brazilian Shipping Company (“EBN”) fleet; and, therefore, (iii) is exempted from the requirements of having a charter authorization by an EBN and being subject to a circularization process.
The resolution consolidates ANTAQ’s positions in recent regasification projects in Brazil and brings clarity and legal certainly for future projects.
Our team is available for further information on this matter.