Bolivian LNG deal

Sempra Energy and Pacific LNG, a consortium formed by Repsol YPF, British Gas and British Petroleum, have agreed to negotiate the supply of liquefied natural gas from Bolivia to NW Mexico and Southern California. The Pacific LNG project will need investment of USD 5–8 billion for expected completion in 2004. The plan is to pipe Bolivian gas to the Pacific coast, liquefy the gas at a plant to built at a Chilean or Peruvian port and ship the LNG to a receiving terminal under development by Sempra and CMS Energy Corp. on the coast of Mexico at Ensenada, Baja California. Sempra and Pacific LNG plan to negotiate a 20-year contact for an average 800 million cubic feet per day of Bolivian gas. The gas will originate in Bolivia’s Margarita field, which has more than 13 trillion cubic feet (tcf) of gas reserves, according to owners Repsol, British Gas and Pan American Energy LLC, a joint venture owned by British Petroleum and Bridas.

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