Post on 12-Dec-2018
Oil & Gas and RenewableOil & Gas and Renewable
August 2009August 2009
Encontro Econômico Brasil-Alemanha
2
BNDES Disbursements
20,023,4
25,7
38,2 35,140,0
47,1
52,3
64,9
92,2
43,0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Jun
2009
R$ bilhão
3
Infrastructure Disbursements
R$ millions
4,419
Not included disbursements for the EmergencialElectric Power Program
Eletric PowerOil & GasLogistics
TelecommunicationsForecast
2003 2004
7,1909,201
2005
9,760
2006 2007
14,005
19,190
~50,000
2008 2009
4
Infrastructure Credit Lines
� Power Generation (hydro and thermo)
� Transmission Lines
� Distribution Utilities
� Oil and Natural Gas (up, mid and downstream)
� Renewables
� Railways
� Roads
� Ports
� Acquisition of Airplanes, Locomotives, Wagons
� Telecommunications
5
Supported Investments
• New machinery and equipment
• Civil works, assembly and installations
• Engineering studies and design related to the investment
• Quality and Productivity, Research and Development, Technical
and Managerial Qualification, Technological Updating and
Personnel Training
• Pre-operating expenses
• Working capital associated to the fixed investment
6
BNDES Fee+ + Credit RiskSpread
Financial Cost
• Financial Cost = mix of Real Long Term Interest Rate (TJLP) &
Brazilian National Consumer Price Index (IPCA) or Currency
Basket
• BNDES Fee = BNDES Spread varies according to supported
sector
• Credit Risk Spread = from 0.46% up to 2.54% per year
Interest rate for BNDES Support
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Financing Conditions
Financing Facilities
BNDES Spread
(% p.a.) Financial Cost
Maximum
Share (%)
- Investments, except import 0.9 TJLP (100%) 80
- Import of equipment, if there is not
a similar equipment in Brazil, for
power plants and gas cogeneration
0.9
IPCA or (US$ or
UMBNDES 2) + ECM
(100%)
80
Renewable Energies 0.9 TJLP (100%) 80
TJLP (70% maximum)
IPCA or (US$ or
UMBNDES) + ECM
(30% minimum)
TJLP (80% maximum)
IPCA or (US$ or
UMBNDES) + ECM
(20% minimum)
TJLP (80% maximum)
IPCA or (US$ or
UMBNDES) + ECM
(20% minimum)
- Gas development, production and
processing1.3 70
- Transportation and Distribution 1.3 70
Oil and Gas
- Oil development, production and
refine1.8 60
Electric Power - Generation
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BNDES Oil & Gas and BiofuelsDisbursements
R$ billions
0,01,02,03,04,05,06,07,08,09,0
10,0
2003
2004
2005
2006
2007
2008
Thermopower
Gas district
Gas transportation
Refining
E&P
Biodiesel
Ethanol
9
BNDES disbursement for PowerGeneration from Renewables
0
500.000
1.000.000
1.500.000
2.000.000
2.500.000
3.000.000
R$ m
il
2001 2002 2003 2004 2005 2006 2007 2008
Cogeração a biomassa PCH Eólica
2.630.513 1.366.821 1.443.237 663.939 234.766 248.446 416.679 33.384 TOTAL
229.04867.036382.226170.84803353220Eólica
1.529.2771.163.767782.699232.497130.82285.200248.52717.803PCH
870.181134.011276.306258.589101.941160.908165.82813.580Cogeração a biomassa
20082007200620052004200320022001Em R$ mil
10
BNDES Oil & Gas and Biofuels Portfolio
R$ millions
Sector Investment Financing
E&P 5.095 1.157
Refining 977 708
Gas transportation 10.064 7.615
Gas district 3.992 2.409
Supply vessels 9.992 8.788
Thermopower 10.470 6.295
Biodiesel 811 630
Ethanol 15.241 10.339 PBR business Plan 2009 50.630 25.000
Total 107.273 62.941
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Support to Petrobras business plan 2009
Aim:To support Petrobras business plan: projects included in the PAC and beingdevelopped during 2009 and 2010
Total Investment:R$ 50.3 billions
Financing: R$ 25 billions
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BNDES Oil & Gas Projects Portfolio
Upstream: 6 projects
• Investments: R$ 5 billions
• Financing: R$ 1.2 billion
Downstream: 3 projects in refineries
• Investments: R$ 1 billion
• Financing: R$ 0.7 billion
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• Transportation pipelines: 3
projects
• Investments: R$ 10.1 billions
• Financing: R$ 7.6 billions
• Gas district pipelines: 11
projects
• Investments: R$ 4 billions
• Financing: R$ 2.4 billions
BNDES Pipelines Portfolio
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BNDES Vessels for O&G sector
� Offshore Supply Vessels: 29 current
projects (AHTS, PSV, OSCV).
� Investment: R$ 10 billions
� Financing: R$ 8.8 billions
� Promef I: Construction of 23 vessels for
Transpetro: 10 Suexmaz, 5 Aframax, 4
Panamax and 4 product vessels.
� Investment: R$ 5.3 billions
� Financing: R$ 4.8 billions
15
Thermopower plants: 17 projects
• Investments: R$ 10.5 billions
• Financing: R$ 6.3 billions
Biomass: 24 cogeneration projects, mainly
from sugar cane bagasse, adding 843 MW
of capacity, with R$ 2.3 billions investment
and R$ 1.7 billion BNDES financing;
BNDES Power generation portfolio
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BNDES Biofuels Portfolio
Ethanol: 42 projects
• Investments: R$ 15.2 billions
• Financing: R$ 10.3 billions;
Biodiesel: 11 projects
• Investments: R$ 811 millions
• Financing: R$ 630 millions;
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Wind: 17 wind farms, providing
300 MW, with a R$ 1.4 billion
investment and R$ 0.95 billion of
BNDES financing;
BNDES Renewable Energy Projects Portfolio – Wind Energy
Small Hydro: 106 projects
• Investment: R$ 9.3 billions
• Financing: R$ 6.5 billions
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• PROMINP (Oil & Natural Gas National Industry Mobilization Program): Member of the Directive Board and the Executive Committee and Coordinator in Oil & Gas Supply Chain Commission
• Member of Pre-salt Governmental Commission
• BNDES has ordered surveys on Oil & Gas market structure (Regulation framework, Oil funds, Production chain)
• Member of Biodiesel National Program
Institutional Role
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THANK YOU
Ricardo Cunha da Costa
Advisor in the Infrastructure Division
Phone: +55 21 2172 8653
Fax: +55 21 2172 6240
E-mail: rcco@bndes.gov.br