TGI sees opportunity from Sur Peruano pipeline impasse
Delays being experienced by Peru's flagship natural gas pipeline project Sur Peruano (GSP) are spuring Colombian natural gas transporter TGI's expansion plans in Peru.
TGI executives made the comment during the company's first quarter earnings presentation on Thursday.
The gas transporter, together with parent Empresa de Energia de Bogota (EEB), controls Peruvian gas distributor Contugas, which supplies Ica region.
The company officials said that expanding Contugas' infrastructure to supply southern Peru would be "cheaper, quicker and easier" than GSP.
COLOMBIA
In Colombia, TGI moved 428Mf3/d in 1Q17 compared with 494Mf3/d, the average volume transported in 2016.
The company attributed the dip to lower offtake by thermoelectric plants on account of improved hydrological conditions. Hydroelectric reservoirs had been impacted by an El Niño weather phenomenon-fuelled drop in precipitation.
In the first three months of the year, 65% of TGI's Colombian revenue came from distributors, 13% refinery, 11% power generation, 8% VNG, 2% commercial and 1% other.
Also Read Colombia's TGI eyes new LNG terminal
CÁLIDDA
At EEB-controlled gas distributor Cálidda, which serves Peru's capital Lima and neighboring port city Callao, client base grew 26% year-on-year to 464,785 in 1Q17.
The bulk of clients in the period were from the residential sector (463,982), followed by industry (540), VNG stations (244) and power generation (19).
In the period, invoiced volume rose 8% to 751Mf3/d, of which power generation represented 75.6%, industry 15%, VNG stations 8.1% and residential the balance.
The number of potential clients near Cálidda's network increased 19% to 772,766.
In a presentation, Cálidda CEO Jorge Olazabal said the company aims to add 120,000 clients this year.
Plans include taking on debt for US$400mn to finance investment of US$600mn to hit a target of 1mn clients in 2022, he added.
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