Under the terms of the SPA, Centrica will deliver approximately six LNG cargoes per year to Exodus through a ship-to-ship operation into the floating storage unit (FSU) Bilbao Knutsen, located in Puerto Cortes.
According to a Centrica statement, the firm expects the 15-year contract to start in 2026.
Centrica said the LNG supplies will be transported to the Brassavola combined cycle power plant, an operating 150 MW thermal facility with its combined cycle under construction and set to reach 240 MW of power capacity, marking the first-ever import of natural gas for power generation in Honduras.
Moreover, this initiative represents a “significant step toward diversifying the nation’s energy mix and reducing its reliance on less environmentally friendly fossil fuels,” the firm said.
Once operational, the FSU will serve as the backbone of LNG storage at a new terminal currently under construction on Honduras’ Caribbean coast, Centrica noted.
The project will enhance energy security, improve generation efficiency, and also support industrial growth, it added.
“This agreement reflects Centrica Energy’s commitment to expanding global LNG access through strategic partnerships,” said Arturo Gallego, global head of LNG at Centrica.
“By leveraging our global reach and operational expertise, we’re proud to support Exodus and Honduras in its journey toward a more sustainable and resilient energy future,” Gallego said.
Honduras LNG FSU
In September, Knutsen’s 2004-built converted LNG carrier, Bilbao Knutsen, arrived in Honduras to start serving the country’s first LNG import project.
Honduras-based Genesis Energias, which chartered Bilbao Knutsen to serve its LNG-to-power project, announced the arrival of the vessel in Puerto Cortes.
This vessel, with LNG storage capacity and specially refurbished for this project, sailed for almost three months to reach its destination, Puerto Cortes, and will remain in the country for the next 18 years, becoming a “key part” of the national energy infrastructure, the company said.
Earlier this year, China’s Huarun Dadong yard announced that it had completed the FSU conversion job in cooperation with South Korea’s HD Hyundai Marine Solution, a subsidiary of HD Hyundai Group.
In August 2024, HD Hyundai Marine Solution announced a contract for one FSU conversion worth $30 million, saying the client was a European shipping company.
London-based Watson Farley & Williams (WFW), who advised Genesis Energias on the chartering of Knutsen’s LNG carrier Bilbao Knutsen, revealed in December 2024 that HD Hyundai Marine Solution will convert the LNG carrier to an FSU.
Additionally, WFW said that Genesis Energias will use the LNG carrier for the loading, storage, and discharging of LNG as part of its LNG-to-power project in Honduras.
Genesis will import LNG internationally through the LNG terminal in Puerto Cortes on Honduras’ Caribbean coast using the FSU for the onward transmission of LNG to the Brassavola thermal power plant.
