TGI seeking partners for Colombia LNG terminal

Thursday, November 16, 2017

Colombian natural gas transporter TGI is seeking partners to invest in the country's second LNG regasification plant, the company said on Thursday.

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In a quarterly conference call, TGI chief financial officer Jorge Suescún said a consultancy firm had been hired to help search for a strategic joint venture.

"We're looking at aspects involving engineering, the port and important social issues," Suescún said. "We're focused on meeting deadlines set by [gas market regulator] Creg."

Suescún added that he expected a bidding process for the facility to begin next year.

Earmarked for the Pacific port city of Buenaventura, the LNG terminal is expected to boast capacity of 400Mf3/d and has been budgeted at US$560mn.

The project's blueprint also includes a gas pipeline linking the plant to the northern outskirts of Cali, Colombia's third largest city, and an associated 148MW thermoelectric plant.

Colombia's mining and energy planning unit UPME last week published a resolution outlining complementary procedures for the proposed new LNG terminal. Concept studies are currently being carried out by Consorcio Sener Pacífico.