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Gold/Mining/Energy : LNG -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (479)	8/2/2005 8:17:26 AM
From: Dennis Roth	Read Replies (1) \| Respond to of 919

Repsol YPF takes up 20% in LNG consortium - Peru Published: Monday, August 1, 2005 17:05 (GMT -0400) bnamericas.com Spanish oil giant Repsol YPF (NYSE: REP) will participate with a 20% stake in the Peru liquefied natural gas (LNG) export project and will be the sole LNG exporter of the gas coming from the Camisea field, the company said in a statement Monday. Repsol YPF said it has now formally signed an agreement with privately held US oil company Hunt Oil to participate in the Peru LNG project, ratifying a preliminary document signed in June. As a result, the Spanish company will sell four million tonnes a year of LNG, equivalent to 15% of Repsol's total gas production, making the deal the largest LNG purchase agreement the company has ever signed. The other partners in the Peru LNG consortium are Hunt Oil with 50% and South Korea's SK Corporation with the other 30%. Peru LNG plans to build a natural gas liquefaction plant at the Pampa Melchorita site to start operations by 2009. The plant will export LNG to the US west coast and Mexico, the statement said. Peru LNG has signed an agreement with the Camisea upstream consortium to supply 620 million cubic meters a day of gas from blocks 88 and 56 in the Amazon jungle region to the liquefaction plant. Under the agreement, Repsol also obtains a 10% interest in the blocks from Hunt Oil, the statement said. Repsol YPF will also acquire a stake in the TGP transport company that currently transports gas from the Camisea fields to capital Lima. The agreement will be for 18 and a half years from the start of operations of the plant, the statement said. Repsol began its operations in Peru nine years ago. At the end of 2004, it held rights to three exploration blocks that cover 16,237 sq km. It also operates the 102,000b/d Pampilla refinery and has a network of 146 service stations in the country. BNamericas.com

To: Dennis Roth who wrote (479)	11/30/2005 7:15:38 AM
From: Dennis Roth	Read Replies (1) \| Respond to of 919

Enap receives environmental approval for LNG project - Chile Published: Monday, November 28, 2005 17:42 (GMT -0400) bnamericas.com Chile's state oil company Enap has received environmental approval from regulator Corema for its liquefied natural gas (LNG) project in the country's central Region V, Enap said in a statement. Corema approved Enap's environmental impact study (EIS) by a wide margin, the statement said. "This is an important sign for the international and local companies participating in the tender as obtaining [environmental approval] eliminates the issue of environmental uncertainty," the statement said. The project, which was announced in early 2004 by Chile's President Ricardo Lagos, involves the construction of an LNG import terminal and regasification plant as well as the subsequent distribution of the fuel. Enap leads a pool of consumers that have agreed to buy gas from the project including local power generators Endesa, AES Gener and Colbún as well as gas distributor Metrogas. Enap received bids to supply LNG to the proposed regasification plant at the port of Quintero in late August but the winner has not yet been announced. The offtaker pool will buy at least 8 million cubic meters a day (Mm3/d) of gas from the project, which will initially have an output capacity of 9-10Mm3/d. Investment in the terminal's construction and port facilities is estimated at some US$400mn. The project will take about 30 months to build and is scheduled to start operations in 2008-2009. Enap and the government have said the gas will likely cost US$4-5/MBTU even though gas in the US - an alternative market for LNG producers - is currently selling at about US$11-12/MBTU, according to the Henry Hub benchmark gas price. Chile began pursuing alternative energy sources last year as Argentina failed to meet contractually agreed-upon export levels of natural gas as a result of increased domestic demand. BNamericas.com