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Mexico's CFE mulls delay in startup of Manzanillo LNG terminal
Platts
MEXICO
Petroleumworld.com 04 13 07
Mexico's Federal Electricity Commission (CFE) is mulling the possibility
of postponing the date on which a new liquefied natural gas import terminal is
due to come on stream at the Pacific Coast port of Manzanillo, a CFE official
and industry analyst said this week.Under terms of a tender issued in June last year, a regasification
terminal to be built at Manzanillo is due to begin supplying the CFE with
500,000 Mcf/d of natural gas from April 2011. But that would mean only the
Spanish-Argentine company Repsol-YPF would have a reasonable chance of winning
a separate contract to deliver LNG to the project, the sources say."By 2011, Repsol should be able to supply LNG from the Camisea project in
Peru, but if the CFE wants to have a choice of supplier, it will have to put
the project back a couple of years," said Gonzalo Monroy, Mexico City analyst
of the IPD Latin America consultancy.Alberto Ramos Elorduy, the CFE's assistant director of financed projects
development, confirmed that the Manzanillo project is under review."The project was designed by the administration of President Vicente
Fox," Ramos Elorduy told Platts. "But it's the current administration [of
President Felipe Calderon] that's going to have to carry it out."Talks were underway with the energy ministry, the CFE official added.
" We'll probably have an answer to all this by the end of April," he said.Ramos Elorduy denied that a 2011 start-up would reduce the choice of
potential LNG suppliers to Repsol. "There are other possibilities," he
claimed.The tender issued in last June was for the supply of the 500,000 Mcf/d
over 25 years from a regasification terminal and associated facilities to
be built by the winning bidder. The CFE is considering taking a 30% equity
stake in the terminal, according to the bid terms.--Ronald Buchanan, newsdesk@platts.com
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Platts 12 04 07
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