Cosan FSRU

This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.

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Cosan FSRU, also known as Terminal de Regaseificação de São Paulo (TRSP), is an LNG terminal under construction in the state of São Paulo, Brazil.

Location

The proposed terminal will be a floating storage and regasification unit (FSRU) moored in the Lago do Caneú, near Ilha dos Bagres in the city of Santos, São Paulo, Brazil.

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Project Details

• Terminal Operator: Terminal de Regaseificação de São Paulo, SA (TRSP SA)
• Terminal Owner: Compass Gás & Energia (Grupo Cosan)
• Terminal parent company: Compass Gás & Energia (Grupo Cosan)
• Vessel Name: Höegh Giant
• Vessel Owner: Höegh LNG
• Location: Santos, São Paulo state, Brazil
• Coordinates: -23.911938, -46.342196 (approximate)
• Capacity: 3.78 Mtpa
• Status: Construction
• Type: Import
• Start Year: 2023
• Financing:

Note: mtpa = million tonnes per year; bcfd = billion cubic feet per day

Background

The Cosan LNG terminal will comprise a 14 MMcmd FSRU (floating supply and regasification unit) attached to a fixed terminal in a ship-to-ship configuration near the city of Santos, Brazil. An 8.5-kilometer pipeline will connect the terminal to Comgás's main distribution network at Cubatão, allowing for diversification of the region's gas supply.

The project is being developed by Grupo Cosan, the majority owner of Brazil's largest gas distributor, São Paulo-based Comgás. Comgás was originally listed as the owner of the project, but control was subsequently handed over to Terminal de Regaseificação de São Paulo, SA, a separate subsidiary of Grupo Cosan, to avoid regulatory conflicts.

São Paulo's state Secretary of Infrastructure and the Environment approved the project in April 2019, and the terminal received its preliminary license in May 2019 from the state environmental authority CETESB (Companhia Ambiental do Estado de São Paulo).

Construction of the Cosan terminal began in August 2021. In December 2021 Höegh LNG Holdings signed a 10-year charter to dock its Höegh Gannet FSRU at the terminal.

In May 2022, Cosan's CEO Luís Henrique Guimarães confirmed that the project was on track to begin commercial operations in the first half of 2023.

In February 2023, Höegh LNG confirmed that its vessel Höegh Giant would be deployed to Brazil in the second quarter of 2023 to begin service at the Cosan terminal. Höegh LNG has a 10-year contract to operate at the terminal.

In a May 2023 teleconference with investors, Cosan acknowledged that the terminal's timeline had slipped due to challenges encountered while drilling to connect gas pipelines to the terminal; officials stated that start-up of commercial operations would be delayed until the second half of 2023, with subsequent ramp-up scheduled to continue into 2024.

Opposition

Environmentalists have warned of several potential dangers posed by the new terminal, including explosions, fires, and damage to mangrove swamps and local marine life.