The planned terminal is expected to cost up to US$ 600 million, and will be funded a consortium of investors led by EXMAR, the Belgian LNG producer. The project includes plans for an FSRU, a purpose built mooring jetty, and the associated transmission pipelines.
EXMAR formed a consortium with Promigas, the Colombian pipeline operator and with a Jamaican company called CLNG for local optimisation. Within the terms of the collaboration, EXMAR will be responsible for the financing, development, ownership and operation of the FSRU LNG regasification terminal and Promigas will be responsible for the financing, development, ownership and operation of the natural gas transportation system.
Jamaica is currently heavily reliant on imported oil for its energy needs. Minister of Energy and Mining James Robertson, has previously stated that switching to natural gas could save the country up to US$ 350 million on its energy bills, and save households and manufacturers up to 30%, as well as reducing their national emissions.
Jamaica has one of the highest energy indices in the Caribbean and Latin America and it is hoped that bringing down energy cost using cheaper natural gas will lead to a revitalisation of Jamaica’s bauxite and alumina industries and make them more competitive in international markets.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/21062010/jamaica_switching_to_lng/