Page 8 - LatAmOil Week 43 2022
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LatAmOil                                      EL SALVADOR                                           LatAmOil



                         EDP takes delivery of LNG at the FSRU, regas-  of commercial operations at Acajutla. “EDP
                         ifies it on the vessel and then pipes it to shore   marks a step change in the clean energy tran-
                         via a 1.8-km pipeline. That pipeline leads to the   sition in Central America and for our work as
                         newlwy built TPP, which has a generating capac-  innovators building a sustainable world. Bring-
                         ity of almost 380 MW.                ing our landmark Energia del Pacifico project
                           Invenergy did not say whether the power sta-  online during the pandemic is nothing short
                         tion was yet operating at its full design capacity.   of remarkable and is a testament to Invener-
                         However, it did note that EDP was making use   gy’s expertise and perseverance and remains a
                         of the two 230-kV transmission lines.  shining example of the opportunities that can
                           One of these serves to connect the plant to   be created when private initiatives have strong
                         the Central American Electrical Interconnec-  local government support,” he said. “I am proud
                         tion System (known as CAIES), which also   of Invenergy’s leadership in delivering a clean
                         serves the power grids of El Salvador, Guate-  energy future for El Salvador.”
                         mala, Nicaragua, Honduras, Costa Rica and   Invenergy has been acting as lead developer
                         Panama, it said.                     of the EDP project, and it has backing from its
                           This link will “[provide] added grid reliability   partners Grupo Calleja, Quantum Energy and
                         to the region and [open] further opportunities   VC Energy de Centroamerica, all three of which
                         for renewable energy in El Salvador,” the com-  are based in El Salvador. ™
                         pany said in its statement.
                           To date, it added, EDP has signed long-term
                         power purchase agreements (PPAs) with seven
                         local electricity supply companies.
                           The Invenergy statement went on to say that
                         the introduction of gas-fired power would help
                         El Salvador reduce its greenhouse gas (GHG)
                         emissions by reducing the need for using high-
                         er-polluting fuels such as coal and petroleum
                         products, Additionally, it put the cost of EDP
                         at more than $1bn and described the project
                         as “the largest-ever private investment in El
                         Salvador.”
                           The country secured funding for the LNG-
                         to-power project from several international
                         financial institutions (IFIs) and export credit
                         agencies, it added.
                           Michael Polsky, the founder and CEO of
                         Invenergy, expressed satisfaction with the start   The Acajutla TPP has a generating capacity of nearly 380 MW (Photo: Invenergy)




                                                      COLOMBIA
       Petro administration will uphold existing



       oil and gas contracts, Energy Ministry says






                         COLOMBIAN President Gustavo Petro, who   might seek to revise the terms of ongoing explo-
                         assumed office in August of this year, intends to   ration and development schemes.
                         uphold existing oil and gas contracts, the coun-  According to the ministry, however, no such
                         try’s Energy Ministry said last week.  revisions are planned, and current contracts will
                           Petro has made his distaste for fossil fuels   be upheld.
                         clear. During his campaign for the presidency,   “The 330 contracts for exploration and
                         he said he would, if elected, halt new explora-  exploitation of hydrocarbons in Colombia will
                         tion projects, work to encourage the adoption   be respected,” the statement said.
                         of renewable energy sources and tax oil and coal   It also pointed out that Colombian oil pro-
                         exports. He also indicated that he would seek   duction levels had actually risen since Petro’s
                         to ban hydraulic fracturing (fracking), a drill-  accession. The country is now producing around
                         ing technology used to exploit unconventional   779,000 barrels per day (bpd) of crude, it stated.
                         hydrocarbon resources.                 Additionally, the Energy Ministry noted that
                           These positions led many observers to raise   117 of the 207 exploration contracts signed by
                         questions about whether his administration   the government were currently active.



       P8                                       www. NEWSBASE .com                        Week 43   26•October•2022
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