US firm Arroyo Investors is to invest in Chilean company Gasmar, which owns a terminal and storage facility for LPG in Quintero Bay, Chile.
The Quintero Bay terminal imports LPG from mainly from the US via oceangoing vessels and is one of the largest LPG terminals on the Pacific coast of South America. Gasmar is additional building a new terminal in Mejillones Bay which is expected to be operation in 2022.
According to a company statement, the investment in Gasmar offers an opportunity for Arroyo in energy infrastructure that will meet demand for a key commodity fuelling homes and businesses in Chile.
“As Chile continues its push to lower the carbon intensity of its energy consumption, LPG is a critical energy source to displace higher carbon intensity fuels such as diesel and biomass. Gasmar’s receiving and storage assets are critical to advancing the growing need for LPG services in Chile,” said Rudolf Araneda, partner in Arroyo’s office in Santiago, Chile.
