Uruguay and Argentina agree to construct LNG regasification terminal

Dec 13, 2007 01:00 AM

The governments of Argentina and Uruguay signed an agreement to jointly build a regasification terminal that will allow them to import 25 mm cmpd of natural gas. The natural gas to be regasified by the terminal could be sourced from any number of exporting countries worldwide, officials said.
The agreement was signed by Argentina’s Planning Minister, Julio de Vido, and Uruguay’s Minister of Energy and Industry, Jorge Lepra.

The regasification terminal will allow Argentina and Uruguay to combat a critical energy situation that has affected both countries. The terminal will have interconnections in both Buenos Aires and Montevideo.
The terminal will require an investment of $ 1.0 bn, according to Uruguay’s Sub-Secretary of Energy and Industry, Martin Ponce of Lion.

According to officials the terminal -- to be located in the Municipality of Bahia Blanca in Buenos Aires -- could be online and ready to accept its first shipments of liquefied natural gas (LNG) by 2009.
Argentina’s stateoil company, Enarsa, with a 51 % working interest and its Venezuelan counterpart, Petroleos de Venezuela (PdVSA), with the remaining 49 % working interest, will jointly own the terminal.

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