Page 8 - LatAmOil Week 20 2021

LatAmOil EL SALVADOR LatAmOil

Invenergy, BW LNG complete

financing of FSRU for El Salvador

INVENERGY and BW LNG announced this project’s environmental benefits, saying EDP’s
week that they had completed the financing of a use of natural gas would reduce El Salvador’s
floating, storage and regasification unit (FSRU) reliance on imported diesel and heavy fuel oil-
for the Energía del Pacífico (EDP) LNG-to- fired generation.
power project in El Salvador. “The close of financing for the FSRU repre-
The two companies closed the $128.3mn sents a significant step forward in the comple-
financial package for the unit with IDB Invest. tion of the transformational EDP project, the
The package has a 15-year contractual term foundation for El Salvador’s clean energy future,”
granted to FSRU Ltda. de CV in El Salvador. stated Invenergy’s senior vice-president, finance
The funding will be used for the purchase and and capital markets, Meghan Schultz.
conversion of the BW Tatiana LNG carrier to an “Besides enhancing this project’s compet-
FSRU. The vessel will be permanently moored itiveness, we hope this financing encourages
at the Port of Acajutla in Sonsonate, and will be the development of many more LNG-to-power
jointly operated by Invenergy and BW LNG. projects in the region,” added BW Group’s
The facility will be Central America’s first vice-president of group treasury and corporate
FSRU. It will have a regasification capacity of finance, Jessica Cheung.
280mn cubic feet (7.9mn cubic metres) per day EDP has signed a long-term LNG supply
and an LNG storage capacity of 137,000 cubic agreement with Royal Dutch Shell. ™
metres.
The LNG received by the vessel will be regas-
ified and transported via subsea pipeline to
the onshore 378-MW gas-fired power plant. A
44-km, 230-kV electric transmission line will
connect the power plant’s output to the Central
American Electrical Interconnection System
(SIEPAC), and the companies said this would
strengthen the region’s electric grid.
The EDP project is due to be completed in
2022, and is expected to meet 30% of El Salva-
dor’s energy demand through power purchase
agreements (PPAs) with seven of the country’s
distribution companies.
Invenergy and BW LNG have talked up the The BW Tatiana LNG carrier will be converted into an FSRU (Image: Invenergy)

US VIRGIN ISL ANDS
EPA orders 60-day shutdown

of Limetree Bay oil refinery

THE US Environmental Protection Agency communities and businesses. The latest such
(EPA) has ordered Limetree Bay Ventures, incident, which caused crude and other pollut-
the operator of the US Virgin Islands’ only oil ants to rain down on nearby houses following
refinery, to suspend operations for a period of an emergency burn-off of feedstock on May 12,
60 days. led the EPA to order a shutdown of the plant last
Limetree Bay Ventures has been under fire week.
this spring for a series of incidents in which The company had already halted operations
equipment problems caused droplets of oil to voluntarily, pending a resolution of the prob-
be released into the air, to the dismay of local lems that led to the release of oil on May 12.

P8 www. NEWSBASE .com Week 20 20•May•2021