Encontro Econômico...

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

7

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

8

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

11

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

12

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

13

• 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

14

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

16

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;

17

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

19

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