Colbún and Gener canceled deal to build LNG tanker
Date to finalize the purchase agreement of the regasifier Norwegian Höegh LNG tanker has expired, European company and put it back on the market.
The plan of the Colbún and AES Gener to have own gas to operate their generating plants, through the installation of a floating LNG regasification plant, will keep waiting.
The companies rejected the agreement signed in September 2012 with the Norwegian Höegh LNG for the construction and purchase of a regasification ship, delaying again the completion of the terminal, to be located in Region V and should be operational in late 2014.
Ignacio Cruz, Colbún’s general manager, said the unit to be built at the shipyard of Hyundai Heavy Industries in Korea-and which was destined to the project intended to drive with AES Gener was put on the market for the Norwegian to be acquired by a third party.
“In the agreement we had indeed beat the deadlines, but we are working with them in the development of this project. The contract we had, which applied on a specific ship beat. That ship is now on the market”, said Cruz.
The executive said this does not mean that they have closed the door on the idea of the LNG terminal, but said that today are exploring different techniques alternatives and engineering issue that will continue to advise by the Norwegian company.
“This project has never been very specific. We have studied alternatives of a floating regasification terminal with a dock or offshore or a onshore regasification. We have not closed this process, no alternative is ruled out. Here are engineered to do, and we’re working with them about that. They are helping us to end our engineering process and define what type of boat we need, “he said.
Cruz said that once this process is complete, power companies could choose to have a new boat.
The floating terminal, which would cost about $ 350 million, would allow Colbún to have LNG for Nehuenco and Candelaria complex, while AES Gener would achieve supply Nueva Renca.
New Markets
For its side, the power company is still looking for projects to diversify its investments and reach markets in Peru and Colombia, where they will enter- buying thermal and hydroelectric assets, and already have had contact with stakeholders, but without concrete results, says Cruz.
“We have been approached by people to offer things in Peru and Colombia, we have identified some (projects), but we keep looking and prospecting. None of that which has been offered to us we have taken, “he said.
The company does not rule out that in the future, and depending on the size of the investment to be made to reach these markets, hire an investment bank to advise them in the process. Search today has been doing with their own resources.-
“If at some point it seems interesting an asset that is very large, we will need some type of structure to go to that business, and then we’ll probably have to hire an investment bank to help us,” he said.
Cruz added that “Size is not one of the fundamental restrictions. We are looking for profitability, diversification, and if that is found in small sizes, we can address”.
In any case, he said, there are more advanced investments in their decision process. The construction of the second unit of the Santa Maria (350 MW) coal complex could be defined by year-end, but are concerned about the problems faced by Endesa in the area.
Source: Diario Financiero
