[QUOTE=rob;136661]We posted the following article yesterday: Cuba to Move Ahead with LNG Regasification Project
But what’s curious to note is that the supply part of the equation wasn’t discussed by Bloomberg.
Where is Cuba going to get LNG from though? PDVSA doesn’t have an LNG liquefaction plant, and there are no plants in the area that will likely have the ability to sell to Cuba.
Anyone have insight on this announcement?[/QUOTE]
From a 2010 article:
A LNG re-gasification facility to receive Venezuelan-sourced LNG is currently being planned for the southern coast port city of Cienfuegos by CuvenPetrol, a joint venture between Venezuela’s PdVSA (51%) and Cuba’s Cupet (49%). Two 1-million-ton re-gasification trains are planned for 2012 at a cost of over $400 million. The natural gas is destined as fuel for that city’s thermoelectric power plant, and as a feedstock (hydrogen) for the Cienfuegos refinery and future petrochemical/fertilizer plants.
It is estimated that Venezuela has 176 trillion cubic feet (Tcf) of proven natural gas reserves the second largest in the Western hemisphere behind the United States. Venezuela’s PdVSA plans to build three liquefaction trains at the Gran Mariscal de Ayacucho natural gas complex in Guiria. The project would source gas from the Plataforma Deltana and Mariscal Sucre natural gas projects. Total investment in the three projects could approach $20 billion, with first exports by 2013.
Atlantic Basin LNG exporters such as Trinidad and Tobago (the only country in Latin America with liquefaction facilities), Nigeria, Equatorial Guinea, Algeria and possibly Angola could supply Cuba with LNG if Venezuela’s supplies are not available at the time of the completion of the Cienfuegos facility.