A joint venture between Colombia's Ecopetrol SA (EC) and Korea National Oil Corp. is scheduled to complete this year a $55 million natural-gas project in Peru, Bloomberg News reported Friday, citing Savia Peru's vice president.
The project, to supply north coastal industries such as Vale SA's (VALE) Bayovar phosphate mine through a 25 kilometer pipeline, is awaiting environmental approval from Peruvian lawmakers, Nelson Castaneda told Bloomberg in an interview.
"With 1 trillion cubic feet found so far, this could supply a fertilizer industry, generate electricity and supply cars and homes," Castaneda said, adding that the project has attracted 15 potential buyers to its output.
Full story at http://www.bloomberg.com/news/2012-05-25/ecopetrol-s-peruvian-unit-to-complete-natural-gas-project.html
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