Royal Vopak broadens LNG terminal portfolio with stake in Colombian FSRU import facility

Thursday, 12 September 2019
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Royal Vopak, the Dutch global storage and terminals company and co-owner of the Gate liquefied natural gas import facility in Rotterdam, has purchased a stake in the floating LNG terminal in the Colombian Caribbean port of Cartagena.

Vopak said it bought 49 percent of Colombian company Sociedad Portuaria el Cayao (SPEC) in Cartagena, owner of the terminal which has been in service since 2016. The value of the transaction was not disclosed.

The Dutch company also owns 60 percent of the Mexican Gulf Coast onshore LNG import terminal at Altamira.

The Colombian facility consists of an LNG jetty, onshore infrastructure and 9.2 kilometres of gas pipeline connecting to the national gas grid.

A chartered floating storage and regasification unit (FSRU) is receiving the LNG and sending the gas to shore. The SPEC company holds long-term supply contracts with three local gas-fired power plants.

The FSRU, the 170,050 cubic metres capacity vessel “Hoegh Grace”, is on charter from Norwegian fleet owner Hoegh LNG.

The majority shareholder in the terminal company will remain the South American utility Promigas with 51 percent.

“We are very much looking forward to this partnership with Promigas and to enter into the growing Colombian LNG market,” said Eelco Hoekstra, Chairman and Chief Executive of Vopak.

“This is another growth step in our LNG portfolio and it fits very well in our ambitions to grow and diversify our service offering in LNG,” added Hoekstra.

Promigas is a private company in the natural gas sector in Latin America with 45​​ years of experience providing access to natural gas.

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