Project Profile
Value: US$200 million
Location: Colombian Caribbean coast, Colombia
Capacity storage: 14,000 m3 of LNG
LNG Floating Storage Unit (FSU): 140,000 m3
Pipeline: 88 km, 18” diameter pipeline from its producing La Creciente Field to the Caribbean coast with transportation capacity of 100 MM scf/d
Start-up Year: Q2 2015
Pacific Rubiales Energy Corp. (PRE) signed a natural gas/LNG Liquefaction, Regasification, Storage and Loading Services Agreement with EXMAR NV. The Agreement calls for EXMAR to build, operate and maintain a Floating Liquefaction Regasification & Storage Unit (FLRSU) to be located on the Colombian Caribbean coast. The agreement grants wholly owned subsidiary Pacific Stratus Energy Colombia Corp. (PSE) exclusive guaranteed rights to supply and liquefy up to 69.5 MMscf/d (+/- 0.5 million tonnes of LNG per year) over a 15 year period, under a tolling structure. The FLRSU will have a storage capacity of 14,000 m of LNG and will be able to accommodate alongside a 140,000 m³ LNG Floating Storage Unit (FSU). Commercial Operations of the FLRSU are estimated to start in the first quarter of 2015. As part of the project, PSE will build an 88 km, 18” diameter pipeline from its producing La Creciente Field to the Caribbean coast with an initial design transportation capacity of 100 MM scf/d. Gas for the project will be sourced from La Creciente Field. With this project the Company will be initially targeting markets of Central America and the Caribbean, aiming to replace fuel oil and diesel currently used for power generation. The project will also open potential industrial and residential market opportunities for natural gas in these countries, while putting in place new incentives to explore and develop the large undiscovered natural gas resources in Colombia
Operators:
Pacific Rubiales Energy Corp. (PRE): Operator with 100% interest
Contractors:
EXMAR: Build, operate and maintain a Floating Liquefaction Regasification & Storage Unit (FLRSU)
Sub-contractors:
Wison Offshore & Marine: Engineering, procurement, construction, installation and commissioning (EPCIC) contract
TGE Gas Engineering GmbH: Supplied the combined capacity of the three LNG storage tanks