Colombia updates regulations for the LNG import project through the port of Buenaventura

Inspenet, 15 febrero 2023

The Colombian Ministry of Mines and Energy modified key aspects of its Liquefied Natural Gas (LNG) import project on the Pacific coast before the deadline for submitting offers, which will be finalized in March, reports BNAmericas.

The regasification and storage component was reduced to 170,000 m 3 compared to the previous capacity of 200,000 m 3 , according to documents published by the Ministry’s Mining and Energy Planning Unit (UPME).

The entity also established a bid guarantee requirement of USD 2 million, which can be paid in pesos at the Central Bank’s Market Representative Rate (TRM). In addition, UPME indicated that the annual income in the project’s remuneration scheme would incorporate the cost of the components associated with investments and the purchase of natural gas.

On the other hand, a 24-hour period was set for the transfer of gas from methane tankers to the terminal, “not including towing, berthing, connection/disconnection, purging and cooling times.”

According to the latest bidding rules, interested parties have until March 3 to present their technical and economic offers, while the opening of envelopes is scheduled for March 21 and 24.

April 11 was set as the deadline for the counter-offer stage, the results of which will be published on April 26 (technical proposals) and May 3 (economic offers). The contracts are due to be signed on May 8.

The project, for the port of Buenaventura, on the Pacific coast, includes an LNG storage and regasification facility with a capacity of 200,000 m3 and a 120 km pipeline that would transport up to 400 million cubic feet a day to Yumbo, on the northern outskirts of Cali.

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