S. America LNG Terminal - 7/15/2009
Santiago, Chile – South America's first liquefied natural gas regasification terminal, GNL Quintero, is preparing to be fully operational by the end of August.
The fast-track design of the terminal, using the ship as a floating storage tank piping LNG directly to the terminal, will allow the project to start supplying gas to customers while two large onshore storage tanks are being built.
In the fast-track stage, the terminal will produce an average 5 million cubic meters a day of gas, rising to 6.5 million cubic meters a day once the storage tanks are finished next year. When fully operational, the terminal will have a total capacity of 10 million cubic meters a day, which is equivalent to the maximum amount of gas central Chile used to import from Argentina through two cross-border pipelines.
The project has contracts to supply state oil and gas company Empresa Nacional del Petroleo SA, or Enap; power generator Empresa Nacional de Electricidad SA (EOC), or Endesa; and gas distributor Metrogas SA (MGS), each of which holds a 20% stake in the terminal and a 33.3% stake in GNL Chile.
Read the full story at wsj.com.
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