Project Profile
Value: US$175 million
Location: District of Bulnes in southern Chile\'s Biobío region (VIII), Chile
Project capacity: 170,000 m3 (cubic metres) LNG
Start-up Year: 2019
The former Octopus LNG project, now known as the Penco Lirquén LNG terminal, comprises a floating storage regasification (FSRU) LNG port terminal in region VIII\'s Concepción bay. The LNG project is expected to have capacity to inject 15Mm3/d gas into the region\'s onshore network via a 2.5km submarine pipeline. The goal is to improve availability and increase supply of natural gas in Biobío region. The project involves the construction and operation of a maritime terminal island or \"offshore\" unit, designed for the reception, storage and regasification of liquefied natural gas (LNG). The latter process will generate compressed natural gas (CNG), which will be transported to the shore via an underwater pipeline that will connect with an overland pipeline to connect to the existing natural gas transmission and distribution system. The fuel will meet the demand of local industrial, commercial and residential customers in the region. The project is adapted from the former Octopus project, which was withdrawn after community opposition. The project is 50% owned by Biobiogenera, which is a joint venture between Andes Mining & Energy (a Chile-based independent power producer) and Beacon Investments (a Chile-based industrial group). The remaining 50% participation is held by Cheniere Energy, a Houston-based energy company primarily engaged in LNG-related businesses.
Operators:
Biobiogenera (joint venture between Andes Mining & Energy and Beacon Investments): Operator with 50% interest
Cheniere Energy: 50% interest
Contractors:
Duro Felguera: engineering, procurement, construction, commissioning and start-up for an offshore maritime LNG regasification terminal (October 2015)
Höegh LNG: FRSU 20 year contract (October 2015)
Subcontractors: