Golar LNG Limited announced that an affiliate of Hygo Energy Transition Limited (“Hygo”) executed a Memorandum of Understanding (“MOU”) with Companhia de Gás do Pará (“GdP”). The MOU is a result of Hygo’s continued efforts to reduce energy costs significantly and support environmentally-responsible and sustainable industrial growth in the immense Amazon region, and especially in the State of Pará. GdP is the regulated Local Distribution Company (“LDC”) that has the exclusive rights to distribute natural gas in the state of Pará, Brazil. The MOU establishes that Hygo and GdP will explore the local market potential and that Hygo will supply natural gas and LNG to GdP once the negotiations are finalized, and the contracts are executed. Hygo will utilize the Barcarena Terminal, the only one permitted in this isolated region, to supply the volumes. The Barcarena Terminal construction is expected to start shortly with operations to commence in the first half of 2022.