Page 11 - LatAmOil Week 10 2022

LatAmOil BRAZIL LatAmOil

YPFB President Armin Dorgathen (L) and Tradener Director of Gas Carlos Gulin (C) (Photo: Economy.com.bo)

This includes thermal power plants (TPPs) as the National Agency of Petroleum, Natural Gas
well as industrial facilities that consume gas. and Biofuels (ANP) to trade in natural gas, and
Walfrido Avila, the company’s president, it is now the first to move into cross-border gas
indicated that Tradener might be willing to buy supplies.
larger amounts of Bolivian gas once that two- Avila, for his part, described Tradener’s
year period expires. “This contracted volume is deal with YPFB as a milestone for the Brazilian
an initial quantity that may increase, depending energy industry for several reasons.
on the conditions of sale and distribution in the “The first [of these] is the effective presence
Brazilian market, within the scope of the free gas of [an electricity] trader in the country’s gas sup-
market,” he said. ply market, and the second is the possibility that
Tradener has a history of exploring new we open up supplying our thermoelectric plants
horizons in Brazil’s fuel and energy sector. The with gas, enabling the consequent export of elec-
company became the country’s first electricity tricity to neighbouring countries,” he explained
trader about 20 years ago and is also licensed by last week. ™

FALKL AND ISL ANDS
Borders & Southern Petroleum to raise

$1.8bn for Darwin appraisal, development

AIM-LISTED Borders & Southern Petroleum
is looking to raise up to $1.8mn to cover the cost
of appraising and developing Darwin, its natu-
ral gas and condensate discovery in the South
Falkland basin.
In a statement dated March 4, Borders &
Southern explained that its fundraising cam-
paign would take the form of two separate share
issues. The first will be a subscription offer worth
about $600,000 before expenses. It will consist of
34.702mn new ordinary shares, all of which will
be sold to Borders & Southern’s chairman Harry Darwin is in the South Falkland basin (Image: Borders & Southern)
Dobson, the sole participant in the subscription.
“The chairman is a ‘related party’ under the Rule 13 of the AIM Rules,” the company noted
AIM Rules for Companies, and accordingly, his in its statement.
participation in the subscription constitutes a The second share issue, it said, will be an
related-party transaction for the purposes of open offer worth up to $1.2mn before expenses.

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