Repsol YPF has signed a contract with state-run Korea Gas Corporation (Kogas) to supply liquefied natural gas (LNG) to the Asian market from its plant in Peru, announced the oil in a statement.
This agreement, which came into force in January, includes the supply of 1.9 bcm (1,900 million cubic meters) of LNG, equivalent to annual supply one million homes.
Repsol provide liquefied natural gas from the liquefaction plant associated with the Peru LNG project, the production of the oil sold exclusively English.
This contract marks the entry of Repsol in the Asian market for liquefied natural gas, according to the group chaired by Antonio Brufau, reinforces its leadership position in the supply of this product.
Repsol is the fourth largest supplier of LNG in the world and has a dominant position in the Atlantic basin, which supplies gas to Europe and the United States from Trinidad and Tobago.
During 2010, the company sold 9 bcm of gas equivalent, and plans to increase this volume by at least 50% in 2011 following the launch of Peru LNG. Repsol sold exclusively plant production in Peru.
Two thirds of this production will go to the terminal of Manzanillo, on the West Coast of Mexico, which is scheduled to start operation for the fourth quarter of this year. The plant, with a nominal capacity of 4.4 million tonnes a year, can process 17 million cubic meters of gas per day, equivalent to approximately 15% of consumption in Spain.
The complex has two major storage tanks Peru, 130,000 cubic meters capacity each, and a marine terminal for more than a mile that can handle ships with capacities between 90,000 cubic meters and 173,000 meters cubic .
natural gas supply comes from the Camisea field, in which Repsol also participates with 10%, and is carried through a pipeline 408 km long whose construction is part of the Peru LNG project.
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