Pacific Rubiales to ship LNG regionally in 2015

Pacific Rubiales (TSX: PRE) plans to begin LNG shipments to the Caribbean and Central America next year, the firm's LNG project leader Mauricio Guzmán Avellaneda said at Alame's Colombia coal conference in Bogotá.

The project aims to export gas from the La Creciente field in northern Colombia using a floating liquefaction and storage unit (FLSU) stationed off the Caribbean coast.

Chinese firm Wison Offshore & Marine is constructing the FLSU and expects to deliver it next year.

Pacific Rubiales plans to build this year a 84km 18inch (45.7cm) diameter gas line from La Creciente to the FLSU's future destination. The line will include a 4km subsea section, Avellaneda said.

Pacific Rubiales is developing the project along with Belgian shipping firm Exmar. When completed, Exmar will use carriers with 125,000-151,000m3 LNG capacity to deliver shipments to the Caribbean and Central America, the LNG project leader said.

Pacific Rubiales signed an LNG supply contract with Russian firm Gazprom last year in connection with the project, Avellaneda added.