The new company plans investments of 1.2 billion reais and aims to contribute to the autonomy of LPG supply in the Northeast.
Rio de Janeiro, March 12, 2024 – Grupo Edson Queiroz (GEQ), Oiltanking Logística Brasil of the OTAMERICA group (OTLB), and Copa Energia formalized a partnership this Tuesday (12) to create OT Gás Nordeste (OTGN), headquartered in Ipojuca, in the State of Pernambuco.
The new company, OTGN, will be responsible for the development, construction, and operation of a greenfield terminal with a capacity of 120,000 m³ for refrigerated storage of Liquefied Petroleum Gas (LPG) at the Port of Suape, with an estimated investment of R$ 1.2 billion.
The joint venture between GEQ (42.5%), OTLB of the OTAMERICA group (42.5%), and Copa Energia (15%) had already been approved by the Administrative Council for Economic Defense (CADE).
The project aims to increase the security of LPG supply in the Northeast region by expanding the capacity for local supply and enabling the import of the product by independent players through fully loaded large-scale shipments (VLGC).
OTLB will be the controlling partner for the operational and commercial fronts of the company, reiterating its aspects as an independent operator.
The final investment decision is estimated for the first half of 2025, once all conditions established to confirm the project’s feasibility are met. The terminal’s operations are expected to begin in mid-2027.
The companies are very pleased with the new partnership and look forward to successfully developing this important project for the LPG market in Brazil.
Oiltanking Logística Brasil Ltda is a wholly-owned subsidiary of Oiltanking GmbH and is located in Rio de Janeiro, Brazil.
Grupo Edson Queiroz (GEQ) is a multi-sector holding company headquartered in Fortaleza, Ceará, with 72 years of history and more than 9,000 employees. Among its areas of operation and brands are: Energy, with storage, bottling, and distribution of LPG with Nacional Gás; Home Appliances, with Esmaltec; Beverages, with Minalba Brasil; and Communication, with Sistema Verdes Mares.
Copa Energia is a company focused on sustainable energy solutions headquartered in the State of São Paulo, owning the brands Copagaz and Liquigás, specialized in LPG distribution in Brazil.