Chile's Quintero LNG Plant To Increase Capacity 50% -Report

Date : 11/07/2011 @ 8:08AM
Source : Dow Jones News
Stock : Encore Energy Partners Lp (ENP)
Quote : 20.05  0.0 (0.00%) @ 2:05AM

Chile's Quintero LNG Plant To Increase Capacity 50% -Report

Encore Energy Partners Lp (NYSE:ENP)
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Chile's Quintero liquefied natural gas regasification plant will expand its capacity 50% to meet growing demand, El Mercurio newspaper reported Monday, citing a company official.

Quintero, one of two regasification plants in Chile, is controlled by London-based BG Group PLC (BRGYY, BG.LN) and state oil and gas company Empresa Nacional del Petroleo, or Enap.

With a $25 million investment, GNL Quintero, as the plant is known, will increase daily capacity by 5 million cubic meters so that it can deliver 15 million cubic meters of gas a day.

Alejandro Palma, spokesman for the project, told the newspaper the plant is currently delivering 80% of its capacity daily, reaching 100% during peak demand.

"We see strong demand in the market," Palma said.

The LNG plant expansion will likely be ready in 2015, according to Palma.

-By Carolina Pica, Dow Jones Newswires; 56-2-715-8919; carolina.pica@dowjones.com

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