Colombian energy sector regulator Creg has published new draft guidelines for natural gas supply projects amid efforts to drum up interest in its $700m Pacific LNG tender.
The changes include complementary rules related to incentives for the project’s early completion, storage requirements, provisions for additional and associated services and compensation for the unavailability of infrastructure, among other modifications.
Creg also published proposed requirements related to the identification, execution and remuneration of projects that increase the reliability of gas supply.
Slated for the port city of Buenaventura in Valle del Cauca department, the new infrastructure will regasify up to 400 mf3/d (million cubic feet) and store 170,000 m3 of natural gas. An associated pipeline will connect the import terminal to Yumbo.
The government has said the initiative is vital to avoiding a gas shortage, with official forecasts indicating that demand could exceed supply within three years.
According to the latest bidding schedule, interested participants now have until October 21 to submit technical and economic proposals for the project, which must begin operating 58 months after the contract is awarded.
For more information visit www.creg.gov.co
