Colombia’s largest private oil producer Pacific Rubiales is set to enter the export market of liquefied natural gas (LNG) following the signing of an agreement with Belgian shipping group Exmar.
Exmar agreed to build, operate and maintain a Floating Liquefaction Regasification and Storage Unit for Pacific Stratus Energy Colombia Corp, a subsidiary of Pacific Rubiales Energy Corp.
CEO of Exmar Nicolas Sarveys said the unit, “will be the world’s first operational floating LNG production unit.”
Pacific Rubiales CEO Ronald Pantin said “We are very excited with this Agreement as it opens new markets and fast-tracks monetization of the PRE’s extensive natural gas reserves.
“This leverages PRE’s strategy to explore and develop its large gas resources in northern Colombia, and also reinforces our view that Colombia has enough gas resources to become a reliable LNG supplier for the region.”
As part of the project, Pacific Rubiales will construct an 55 mile-long pipeline from the Creciente Field to Tolu on the Caribbean Coast.
