Colbun's Chilean LNG Regasification Terminal Project on Schedule at Quintero

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Researched by Industrial Info Resources Latin America (Cordoba, Argentina)--Chilean company Colbun S.A. (BCS:COLBUN) plans to build a $500 million liquefied natural gas (LNG) regasification terminal in the city of Quintero.

Colbun plans to perform basic engineering on the project until July. The terminal is expected to have a regasification capacity of 10 million standard cubic meters per day to provide natural gas to thermoelectric generation plants and other industrial users in Chile. The company expects to obtain environmental permits in October.

The company will seek bids from engineering, subcontractors and construction firms in December, with construction set to begin in May 2015. The terminal is expected to begin operations by mid-2017.

Colbun chose Quintero mainly because of its proximity to the port and its surrounding infrastructure. The cities of Laguna Verde and San Antonio also were studied as possible sites.

Colbun was formed in 1982 and became a private company in 1997. The company owns 15 hydroelectric generation plants and seven thermoelectric plants, with an installed capacity of more than 2,900 megawatts.

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