Chile Obtains New LNG Suppliers

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Researched by Industrial Info Resources (Sugar Land, Texas)--GNL Quintero SA's (Santiago, Chile) liquefied natural gas (LNG) terminal is currently receiving the facility's second shipment of LNG. The 150,000-cubic-meter tanker Neo Energy arrived from Equatorial Guinea on September 2 and will stay in port for three weeks.

Located in Quintero Bay in Chile's fifth region, the LNG project emerged as a necessity after Argentina's supply conditions were changed in 2004. The new situation forced Chile's government to find a different and more open supply system in which other suppliers besides Argentina could supply LNG. The plant received the first LNG shipment from Trinidad and Tobago in June.

The facility has a tank with a storage capacity of 14,000 cubic meters, but GNL Quintero SA is also constructing two tanks of 160,000 cubic meters each. These are scheduled to start operating in 2010. After this addition, the facility will have a regasification capacity of 15 million cubic meters a day.

To date, $1.1 billion dollars has been invested in the project by BG Group plc (OTC:BRGYY) (London, England) (40%), Endesa SA (MCE:ELE) (Madrid, Spain) (20%), Empresa Nacional del Petroleo (Santiago) (20%) and local gas distributor MetroGAS SA (NYSE:MGS) (Buenos Aires, Argentina) (20%).

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