Excelerate Energy L.P. has announced the signing of a Term Sheet with a consortium formed by Argentina’s ENARSA S.A. and YPF S.A. to develop a second Argentinean LNG importation facility in Escobar, approximately 30 miles north of Buenos Aires.
The Escobar LNG import facility, complementary to the existing operation south of Buenos Aires in Bahia Blanca, will allow delivery of an additional 500 million ft3/d of natural gas to Argentina’s market, effectively doubling Argentina’s import capacity. Due to its favoured location, the terminal in Escobar will have a significant impact on the supply to Buenos Aires and the north of Argentina, adding flexibility and fast response to these growing markets.
“We are pleased to begin a project in partnership with ENARSA S.A. and YPF S.A.” said Rob Bryngelson, President and CEO of Excelerate Energy.
The Escobar facility, scheduled for completion in May 2011, will be fully integrated with Argentina’s existing gas transmission utilities. The year-round facility will accommodate an Excelerate Energy 150, 900m³ Energy Bridge Regasification Vessel® (EBRV®) receiving and regasifying LNG cargos via conventional LNG carriers utilising Excelerate Energy’s Ship to Ship Transfer (STS) process alongside the jetty.
When the Escobar LNG importation terminal comes online in 2011 it will bring the total number of LNG terminals in South America up to six. Argentina is increasingly becoming reliant on imported natural gas as domestic production fell by a massive 39% between 2001 and 2008, with the country slowly coming out of recession now, demand will only keep increasing.
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