Repsol YPF to join Camisea, Peru LNG projects

By OGJ editors

HOUSTON, June 6 -- Repsol YPF, Madrid, has signed a memorandum of understanding (MOU) with Hunt Oil Co. to participate as a third partner in the Peru LNG SRL and Camisea natural gas projects in Peru. South Korea refiner SK Corp. is the other partner (OGJ Online, June 7, 2004).

The MOU also would enable Repsol YPF to assume an interest in Transportadora de Gas del Peru SA (TGP), the consortium that will deliver gas through a 700 km trans-Andean pipeline from Camisea fields to Lima and liquids through a 575 km export line.

Peru LNG will build, own, and operate a 4.4 million tonne/year liquefaction facility at Pampa Melchorita on the coast of Peru that is expected to be operational in 2009. It will deliver LNG to the west coasts of Central and North America.

Camisea fields in central Peru, which contain about 13 tcf of gas with associated liquids, will feed Peru LNG, primarily from Block 56 and Block 88.

The liquefaction and export facilities for Peru LNG will be built on the coast on 1,300 acres at Pampa Melchorita in Cañete Province, 168 km south of Lima. The plant is projected to operate for 20 years.

Peru LNG has signed purchase agreements for 620 MMcfd of gas from Camisea area license holders. The purchase agreement term is for 18 years, starting when the liquefaction plant begins operations.

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