Repsol starts up its first gas liquefaction plant in Latin America
Posted: 10 June 2010
Repsol Chairman Antonio Brufau, and Peruvian President, Alan Garcia, officially inaugurated the first gas liquefaction plant in South America, in Pampas Melchorita, 170 kilometres to the south of Lima (Peru).
The plant, part of the Peru LNG project, represents an investment of 3.8 billion dollars, the biggest investment ever made in one project in the history of Peru.
Various local government authorities, political and business leaders, along with representatives of Repsol and its partners in the consortium that participated in this project, also attended the inauguration.
The consortium is made up of Repsol, with a 20 per cent stake, Hunt Oil USA (50 per cent), SK Energy South Korea (20 per cent) and Marubeni Corporation Japan (10 per cent).
The plant, with a nominal capacity of 4.4 million tons per year, will process 620 million cubic feet of gas per day. It has the two largest storage tanks in Peru (each storing 130,000 m3 of LNG) and a marine terminal that stretches more than a kilometre in length, able to receive tankers with a capacity of between 90,000 m3 and 173,000 m3.
The natural gas supply comes from the Camisea gas field, in which Repsol also has a 10 per cent stake, and is fed through a 408-kilometre gas pipeline that is part of the Peru LNG project.
The project also gives Repsol exclusive rights to market the plant’s entire output, in accordance with the agreement signed with Peru LNG for a term of 18 years from the start of commercial operations, and in terms of volume, this will be the biggest LNG acquisition ever made by Repsol.
Additionally, Repsol has an LNG supply contract for the natural gas terminal at Puerto de Manzanillo, on the Mexican Pacific coast. This contract envisages the supply of LNG to the Mexican plant for a period of 15 years, with an estimated value of 15 billion dollars and with a volume of at least 67 bcm, equivalent to almost double the annual gas consumption in Spain.
During the construction of the plant, Repsol has developed diverse social and environmental projects in the area that include more than 20,000 families who have participated in programmes for improving agricultural skills and reinforcing small and medium-sized enterprises in that area.
Posted by Richard Price, Editor, EnergyME.com
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