Sempra sets back Southern Gas Pipeline project
Published by Anna Nicklin,
Assistant Editor
World Pipelines,
Through a relevant information communication, Graña y Montero Group has indicated that Sempra has informed its decision not to proceed with the purchase of shares in the Odebrecht Group’s Southern Gas Pipeline project (GSP).
As a result of this decision, the current partners of GSP – Enagás Internacional and Graña y Montero – along with the companies of the Techint Group are now working on alternatives that will allow the project to be carried out in the short-term.
It was indicated that if the project may not be made feasible and, as a consequence, the government decided to terminate the concession contract. Such contract provides a termination payment mechanism, which, among others, would be destined to the recovery of the amount invested by the Graña y Montero Group in the project.
In September 2015, Graña y Montero agreed to acquire 20% of the share capital of the GSP concessionaire, with an investment of US$ 215 million. This reflected a clear sign of confidence in and a commitment to Peru’s energy development.
“We continue to believe that the GSP, is a vital project for Peru and of which we will feel very proud when it is completed, as we will contribute with our work to the development and growth of Southern Peru,” commented Mario Alvarado Pflucker, CEO of Graña y Montero Group.
Read the article online at: https://www.worldpipelines.com/business-news/24112016/sempra-sets-back-southern-gas-pipeline-project/
You might also like
World Pipelines Podcast: Going global with IPLOCA
In this episode, Elizabeth Corner speaks to Georges Hage, Executive Secretary at IPLOCA, about IPLOCA's insights on the culture and characteristics of the pipeline contractor community, and how it works to support sustainable energy infrastructure.
Construction begins on Greensand’s carbon dioxide transit terminal at Port Esbjerg
When the tanks are full, the liquefied carbon dioxide will be loaded onto a dedicated carrier from Royal Wagenborg and shipped to the INEOS Nini platform in the Danish North Sea. From there, it will be safely injected via pipeline into subsurface reservoirs approximately 1800 m beneath the seabed for permanent storage.
