Pacific Rubiales Announces Development Of Lng Export Project At La Creciente, In Northern Colombia

abarrelfullabarrelfull wrote on 25 May 2011 05:46
Tags: colombia lng pacific-rubiales

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Pacific Rubiales Energy Corp. (TSX: PRE; BVC: PREC) announced today that it has partnered with EXMAR to develop a liquefied natural gas ("LNG") export project in northern Colombia. EXMAR (Euronext: EXM) is a Belgian-based diversified shipping group serving the international oil and gas industry.

The project involves the construction and development of a liquefaction and regasification barge, a small scale vessel particularly fit for delivering LNG to industrial consumers, and the development of a pipeline from the Company's La Creciente gas field to the Caribbean coast. The transportation of LNG will serve the growing export markets of the Caribbean and Central American markets to substitute for other expensive liquid fuels. Front end engineering and design for the project have been initiated. It is expected the project and pipeline will be fully operational during 2013.

Pacific Rubiales has previously announced its strategy to secure market access by participating in key oil and gas transportation and infrastructure projects.

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