Erstellt am 30.05.2008 - 02:30

Ancap VP: Uruguay open to exporting LNG to Chile, Brazil - Regional

Published: Wednesday, May 28, 2008 10:56 (GMT -0400)

By Guilherme Monsanto
SendSendPrintPrintReprint PermissionEnviar

Uruguay's government is open to exporting LNG to Brazil or Chile from its planned regasification terminal, German Riet, VP of Uruguay's state oil company Ancap told BNamericas.


*



Análise de Conjuntura das Indústrias de Petróleo e Gás (Boletim InfoPetro - Janeiro/Fevereiro de 2008)

Fitch Releases March Summary of Latin America Rating Actions

CEPAL: La inversión extranjera en América Latina y el Caribe 2007

Uruguay, which consumes no more than 300,000m3/d of natural gas, plans to build the 10Mm3/d terminal in conjunction with Argentina.

"Both countries will have autonomy in their 50% stake in the plant and we might as well sell extra natural gas to Argentina or Chile or even Brazil," Riet said after a presentation at the Gas Summit Latin America in São Paulo.

Chile is facing a natural gas deficit but will start exporting LNG next year. Brazil also is hungry for more gas and is developing three terminals.

Argentina and Uruguay are seeking public and private partners for the terminal. Investments required to build the terminal only will be clear once the project is designed, Riet said.

An ideal partner would be an LNG supplier or marketer. Argentina and Uruguay also would be keen to attract partners with investment capacity and the ability to add value to the project, according to the VP.

"More than 30 companies are interested in joining us," he said.

LOCATION

Following detailed studies, Argentina and Uruguay have determined the best location for the terminal is west of Montevideo bay, according to the executive. In that region, Punta Sayago and Punta Yeguas stand out.



The plant, to be concluded in mid-2013, can be upgraded to 15Mm3/d or 20Mm3/d, Riet said.

The plant could be finished in late 2012, although this is a very optimistic timeframe, according to the Ancap executive.