Repsol last week brought online the first liquefied natural gas (LNG) liquefaction plant in South America in Pampas Melchorita, about 105 miles south of Lima, Peru. The plant, which is part of the Peru LNG project, represents an investment of US$3.8 billion, the biggest investment ever made in one project in the history of Peru, according to Repsol.
Repsol has a 20% stake in the plant, while Hunt Oil USA has 50%; SK Energy South Korea, 20%; and Marubeni Corp. Japan, 10%.
The plant, with a nominal capacity of 4.4 million tons per year, will process 620 MMcf/d. It has the two largest storage tanks in Peru (each storing 130,000 cubic meters of LNG) and a marine terminal that is able to receive tankers with a capacity of between 90,000 and 173,000 cubic meters.
The natural gas supply comes from the Camisea gas field, in which Repsol has a 10% stake, and is fed through a 253-mile gas pipeline that is part of the Peru LNG project. The project also gives Repsol exclusive rights to market the plant’s entire output, in accordance with the agreement signed with Peru LNG, for 18 years from the start of commercial operations. In terms of volume it is the biggest LNG acquisition ever made by Repsol, the company said.
Additionally, Repsol has an LNG supply contract for the natural gas terminal at Puerto de Manzanillo, on the Mexican Pacific coast. This contract envisages the supply of LNG to the Mexican plant for a period of 15 years, with an estimated value of US$15 billion and with a volume of at least 67 billion cubic meters, equivalent to almost double the annual gas consumption of Spain, Repsol said.
Repsol is a partner with Canada’s Irving Oil on the Canaport LNG regasification terminal at Mispec Point, near Saint John, NB, the first terminal of its kind to be built on the East Coast of North America in 30 years and the first ever to be built in Canada.
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