Excelerate Energy LLC, a Texas- based natural-gas trader, said it will build a liquefied natural gas terminal in Argentina for a group headed by Spain’s Repsol YPF SA.The terminal,
expected to be completed by May 2011, will deliver 500 million cubic feet of natural gas per day, Excelerate said today in an e-mailed statement.
The LNG terminal will be the second such port in Argentina. Excelerate built the first one, operated by the same Repsol-led group. State-controlled energy company Enarsa also has a stake in the group.
Argentina has faced energy shortages during Southern Hemisphere winters since 2004 as economic growth spurred demand. Industrial consumers such as Dow Chemical Co. and Siderar SAIC had shortages in August as the country experienced the coldest winter in 40 years. Argentina doubled shipments of LNG imports to 14 this year to address the shortages.
The new terminal will be located on the Parana River near the city of Escobar in the central province of Buenos Aires. A 150,900-cubic-meter regasification ship will be docked at the terminal, Excelerate said.
Excelerate is half-owned by U.S. billionaire George Kaiser and the rest by RWE AG, Germany’s second-biggest utility. Repsol’s local unit, YPF SA, is Argentina’s largest energy company.
expected to be completed by May 2011, will deliver 500 million cubic feet of natural gas per day, Excelerate said today in an e-mailed statement.
The LNG terminal will be the second such port in Argentina. Excelerate built the first one, operated by the same Repsol-led group. State-controlled energy company Enarsa also has a stake in the group.
Argentina has faced energy shortages during Southern Hemisphere winters since 2004 as economic growth spurred demand. Industrial consumers such as Dow Chemical Co. and Siderar SAIC had shortages in August as the country experienced the coldest winter in 40 years. Argentina doubled shipments of LNG imports to 14 this year to address the shortages.
The new terminal will be located on the Parana River near the city of Escobar in the central province of Buenos Aires. A 150,900-cubic-meter regasification ship will be docked at the terminal, Excelerate said.
Excelerate is half-owned by U.S. billionaire George Kaiser and the rest by RWE AG, Germany’s second-biggest utility. Repsol’s local unit, YPF SA, is Argentina’s largest energy company.