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Pacific Infrastructure Ventures' (PIV) liquids terminal and pipeline in Colombia are scheduled to begin operations in the third and fourth quarters of 2014, BNamericas has learned.
PIV asset Sociedad Portuaria Puerto Bahía is developing the 140ha import-export terminal in Cartagena bay which will boast an initial storage capacity of 3.3Mb crude and hydrocarbon products.
Overall construction of phase one that includes five, 334,000b storage tanks and a jetty with two berths for vessels of 80,000DWT and 150,000DWT is 25% complete, according to information provided by IFC, which approved a combined US$150mn for the terminal and pipeline.
Construction of phase two, which includes three additional tanks with a capacity of 334,000b/d, a truck station and a barge facility, is scheduled for this quarter.
PIV asset Oleoducto del Caribe-Olecar is behind the 130km crude pipeline, which will connect Puerto Bahía's facilities with Colombia's principal crude export terminal in Coveñas on the Caribbean. The pipeline also will include a direct connection between Puerto Bahía and the Reficar refinery.
Pipeline activities completed through July 2013 include route approval from the national environmental licenses authority (ANLA), consultations with communities and the EIA.
"The investment will improve the logistics of the Colombian oil and gas sector," said the lender, which added "Colombia has increased oil and gas production but exports have been constrained because of inadequate transportation infrastructure."
"Oil exports represent half of Colombia's total exports and are highly vulnerable to the country's dependence on a sole terminal," said IFC Andean region manager Irene Arias. "This investment will reduce bottlenecks and help producers access international markets more efficiently."