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Friday, July 19, 2024

Black & Veatch Completes Feasibility Study for Colombia’s New LNG Terminal

Maritime Activity Reports, Inc.

May 13, 2024

© Photopia Studio / Adobe Stock

© Photopia Studio / Adobe Stock

Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, a liquefied natural gas (LNG) regasification terminal and power plant.

The study assessed site suitability, project design requirements, capital and operating costs, financial viability, financing options, climate resilience, and implementation and construction plans.

Beginning with a site assessment that focused on the landscape of the area, regulatory restrictions and accessibility, the study then moved into design and financial estimates and planning.

The study’s final phases assessed climate resilience and mitigation, and financial modeling and analysis.  

The Andes Energy Terminal (AET) site is strategically located within the Bay of Buenaventura, presenting an opportunity to build a multi-purpose infrastructure project leveraging a natural deep-water port that provides ease of access, rights of way and simplified permitting due to its location near the Port of Buenaventura.

The project site is within an area designated for industrial and port expansion, which has been developed by the AET sponsor group as an independent, fully private endeavor.

It consists of an LNG terminal for receiving imported LNG, land-based regasification plant, LNG truck loading terminal, power plant and associated gas and electrical transmission infrastructure.   

“It is a reality recognized by Ecopetrol and by the ministry of Mines & Energy that Colombia will face a natural gas deficit starting in 2025 — a deficit that is expected to worsen gradually until most of the gas that the country consumes will have to be imported.

“The solutions of imported gas from Venezuela or the exploitation of offshore fields in the Colombian Caribbean are not practical or realistic solutions to this crisis.

“Unless LNG import and regasification capacity is expanded in the near term with new infrastructure in Buenaventura, the Colombian industry and households, particularly in the southwest, will suffer the consequences of this looming shortage of gas.

“The regasification pant in the Pacific coast is an undeniable need, and we are in a privileged position to be able to deliver the solution to this challenge with the AET project,” said Manuel Tenorio, the Andes Energy Terminal’s chairman.