Latin America News

Latest news and developments from Latin America region

• Promigas to invest USD34 million in liquefaction plant in Colombia

  May 16, 2013
  Colombian gas distributor Promigas has announced that it will invest USD34 million to build a small-scale natural gas liquefaction plant on Colombia’s Caribbean coast. The plant, which will be the first gas liquefaction project in Colombia, will start operations at the end of 2014.

• Mexico’s Ramones pipeline attracts interest of up to 95 companies

  May 15, 2013
  As many as 95 firms have expressed interest in the 740-km phase II of the Los Ramones natural gas pipeline system, being tendered by Mexican national oil company Pemex’s gas unit PGPB. Approximately 70 firms are recorded to have attended the promotional event for the project in Mexico City at the end of April 2013.

• France’s GDF Suez wins contract to build USD1.125 billion Uruguay LNG plant

  May 14, 2013
  Uruguay has awarded French gas and power group GDF Suez SA a contract to build a liquefied natural gas (LNG) regasification plant at an estimated cost of USD1.125 billion. Uruguay will pay the French company USD14 million a month during the 20-year concession.

• Pemex to commence bidding process for second phase of Los Ramones gas pipeline on May 20, 2013

  May 13, 2013
  Mexico’s state oil and gas monopoly Pemex has announced that the bidding process for the construction of the second phase of the Los Ramones natural gas pipeline project will be initiated on May 20, 2013. The second phase of the project—spanning 740 km across five Mexican states—will import gas from the United States.

• Fifteen firms register in tendering process for Soto la Marina natural gas compression station

  May 13, 2013
  Mexican state-owned power utility Comisión Federal de Electricidad (CFE) has registered 15 firms under the tendering process for the Soto la Marina natural gas compression station in Tamaulipas.

• CFE to buy 18 LNG cargoes from Trafigura for next 18 months

  May 13, 2013
  Mexican state-owned power utility Comision Federal de Electricidad (CFE) has signed a contract to buy 18 spot cargoes of liquefied natural gas (LNG) for delivery over the next 18 months from US-based commodity trader Trafigura.

• Savia Peru increases cost estimate for pipeline system by 25 per cent

  May 13, 2013
  Savia Peru, a partnership of South Korean and Colombian state oil companies Korea National Oil Corporation and Ecopetrol respectively, has increased the cost estimate of a pipeline system carrying natural gas from offshore crude oil fields in northwest Peru to USD48.3 million, 25 per cent more than the original estimate of USD38.5 million.

• Peru to tender USD205 million worth of distribution systems on June 14, 2013

  May 13, 2013
  Peruvian authorities have announced that the last date for submission of qualification documents for the development of two distribution systems, Concesión Norte and Concesión Sur, is June 14, 2013. The qualifying parties will be announced on June 26, 2013, after an evaluation by private investment promotion agency ProInversión. The final contracts are likely to be awarded in July 2013.

• Increase in Mexican LNG demand drives up gas prices

  May 10, 2013
  Mexico’s recent strategy to increase imports of liquefied natural gas (LNG) due to rising gas demand, falling domestic production, and bottlenecks in US pipeline imports has led to a substantial increase in the country’s gas prices.

• Ten firms visit site of upcoming Mexican gas compression station

  May 6, 2013
  Ten firms attended a site visit for the proposed Soto La Marina natural gas compression station in Mexico’s Tamaulipas state.

• Peru’s TGP expresses security concerns

  May 2, 2013
  Peru’s oil and gas transmission company, TGP, which transports natural gas and natural gas liquids from the Camisea region, has stated that a project to expand transportation capacity has been affected by security issues in the Kiteni area.

• Mexico’s Pemex receives approval for Los Ramones pipeline

  April 30, 2013
  Mexico’s state-owned oil and gas company Pemex’s subsidiary TAG Pipelines has received approval from the country’s energy regulator CRE for construction of phase I of the Los Ramones natural gas pipeline system.

• GDF Suez looking to expand its presence in Latin America

  April 25, 2013
  France-based GDF Suez has announced that it is looking at Latin America for investment opportunities, particularly in fast-growing countries such as Peru and Panama.

• Peru’s TGP sells bonds worth USD850 million

  April 25, 2013
  Peru-based natural gas pipeline company Transportadora de Gas del Peru (TGP) has announced that it has sold bonds worth USD850 million on the international market.

• Uruguay gets four bids for LNG re-gasification terminal

  April 22, 2013
  Four companies bid for a contract to develop a liquefied natural gas (LNG) re-gasification terminal in Uruguay.

• Pemex getting ready to receive bids for Lakach pipeline

  April 19, 2013
  Mexican public sector oil and gas company Pemex is getting ready to receive bids for the engineering, procurement, construction, and subsea installation of a gas pipeline for the Lakach deep water natural gas field.

• Chile’s CGE will invest USD450 million in 2013

  April 19, 2013
  Chilean utility Compania General de Electricidad (CGE) has announced that it will invest USD450 million in 2013.

• Mexico calls for bids for natural gas compression station

  April 17, 2013
  Mexican public sector power company Comisión Federal de Electricidad (CFE) has called for bids for the Soto La Marina natural gas compression station in the north-eastern state of Tamaulipas.

• Kinder Morgan’s pipeline to Mexico to be commissioned in 2014

  April 16, 2013
  El Paso Natural Gas Co., a unit of Texas-based midstream company Kinder Morgan, has announced that its Sierrita Lateral Project is running on schedule and will be commissioned by September 2014.

• Petrobras plans to borrow USD20 billion in 2013

  April 12, 2013
  Brazil’s public sector oil and gas company Petrobras has announced that it plans to borrow USD20 billion in 2013 from both local and international sources.