• 3 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 5 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 9 minutes This Battery Uses Up CO2 to Create Energy
  • 12 minutes Shale Oil Fiasco
  • 1 hour Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 2 days We're freezing! Isn't it great? The carbon tax must be working!
  • 2 days US (provocations and tech containment) and Chinese ( restraint and long game) strategies in hegemony conflict
  • 8 hours Let’s take a Historical walk around the Rig
  • 2 hours Beijing Must Face Reality That Taiwan is Independent
  • 17 hours Trump has changed into a World Leader
  • 17 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 days Indonesia Stands Up to China. Will Japan Help?
  • 17 hours Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)
  • 2 days Might be Time for NG Producers to Find New Career
  • 3 days Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 3 days Anti-Macron Protesters Cut Power Lines, Oil Refineries Already Joined Transport Workers as France Anti-Macron Strikes Hit France Hard

URUGUAY: Regasification Plant Heralds Major LNG Ambitions

URUGUAY: Regasification Plant Heralds Major LNG Ambitions

Bottom line: With final plans for a regasification plant in the Montevideo Bay approved, Uruguay is aggressively working to position itself as an energy hub despite a lack of conventional resources.

Analysis: On 14 May, France’s GDF Suez won a contract to build a liquid natural gas (LNG) regasification plant off the Montevideo shore. The plant should be operational by March 2015, with an expected processing capacity of 10 million cubic meters of LNG per day and storage for 267 million cubic meters. Uruguay itself uses just 300,000 cubic meters a day. GDF Suez may seek subcontracts for the $1.125 billion construction contract. Ancap is also looking for LNG providers to bring in 8 cargos of LNG the first year.

This is the first milestone in making Uruguay a regional energy exporter. The Montevideo plant is 150 kilometers from Buenos Aires, Argentina, where demand for electricity and natural gas is high. Currently, Uruguay can cover domestic demand most of the year with installed hydro, solar, and thermal power, though drought has a severe effect because most of its energy comes from hydroelectric dams. The national electric company, which already buys thermal energy from a number of small providers, is also seeking partners to add 200 MW in solar energy production and 500 MW from wind power projects for which the government will offer 25-year contracts.

Recommendation: Although Uruguay is not a traditional destination for energy investors, its…




Oilprice - The No. 1 Source for Oil & Energy News