Page 7 - LatAmOil Week 07 2020

LatAmOil COMMENTARY LatAmOil
 According to NFE, the PPA provides for the delivery of more than 21tn Btu of LNG to the Central American country over a period of 25 years. Shipments will average 60bn Btu per day, or about 700,000 gallons (2.65mn litres) per day, during this interval.
NFE also said it intended to bring the LNG to Nicaragua by tanker. LNG cargoes will arrive at an o shore oating storage and regasi cation unit (FSRU) that will be anchored near Puerto Sandino, it noted.
e FSRU will then be able to send these vol- umes to a gas- red thermal power plant (TPP) that NFE will build near Puerto Sandino. e facility is due to have a generating capacity of 300 MW, the New York-based company said.
In its statement, NFE said it hoped to bring the FSRU and the TPP on stream in the second half of next year and was con dent that it could obtain the needed permits and authorisations in a timely manner.
It also stated that it would use cash on hand and funds generated by operations to cover the cost of this project.
e company went on to say that the gas-to- power scheme would bene t Nicaragua’s econ- omy while promoting decarbonisation. “ e [TPP] is expected to contribute to the advance- ment of the country’s long-term economic development while also assisting the transition to lower-carbon, more environmentally friendly
energy sources,” it commented.
Wes Edens, the general director of NFE, also
stressed this point, saying that the project was in line with his company’s goal of “[bringing] clean and cheaper energy to countries that need it around the world.” He also called it “a huge step for the region and for Nicaragua to move towards cleaner energy in the future,” BNAmer- icas reported.
For his part, Mansell pointed out on Febru- ary 17 that the Puerto Sandino TPP would be the largest facility of its kind in the country. e plant will be able to produce enough electric power to make up for variations in supply from renewable energy sources, he added. ™
New Fortress Energy operates another LNG import facility in Jamaica (Photo: NFE)
COLOMBIA
I Squared Capital takes stake
in Colombia’s Ocensa oil pipeline
FLORIDA-BASED investment manager I Squared Capital has acquired a minority stake in Colombia’s Oleoducto Central SA (Ocensa) crude oil pipeline from Advent International, a Boston-based private equity rm, for an undis- closed sum.
The acquisition is part of its strategy to expand in fast-growing emerging markets, I Squared Capital said in a press statement. e acquisition was made through the Miami-based investment manager’s ISQ Global Infrastructure Fund II, it added.
Ocensa operates the largest crude oil pipe- line in Colombia. e 848-km link transports around 75% of the oil produced in the country and has a design capacity of 680,000 barrels per day (bpd).
e pipeline originates in the Llanos Basin, Colombia’s most proli c oil producing region. It runs mostly underground and terminates at an export terminal in the port of Coveñas, Colom- bia’s principal marine terminal for oil exports.
I Squared Capital that said the pipeline was “especially well positioned” to transport heavy grades of crude. 
The pipeline pumps oil to Colombia’s Caribbean coast (Image: Ocensa)
Week 07 20•February•2020 w w w. N E W S B A S E . c o m P7