Uruguay LNG FSRU terminal

The US$1.12bn contract to build, own and operate the FSRU, called GNL del Plata, at the Port of Montevideo will run for a concession of 20 years.

Gérald Mestrallet, chairman and CEO, GDF Suez, said: “GNL del Plata marks our entry into the Uruguayan market and further expands our presence in Latin America, which is a key growth area for our group.”

He added that LNG demand in the region is expected to more than double within the next ten years and GDF wants to cash in on the market and strengthen its global LNG footprint.

The FSRU will be capable of receiving LNG carriers up to 218,000m3 and will have a long term storage capacity of 263,000m3 – making it one of the largest. The terminal is expected to enter into commercial operation in 2015.

Up until delivery of the newly built FSRU, which is being built by Daewoo Shipbuilding in Korea, GDF will use the shuttle re-gasification vessel GDF Suez Neptune as a bridge solution.

Plans to develop and operate FSRUs have been developing in many places around the world as they provide a competitive solution for receiving LNG because of timing and cost effectiveness.

Development of LNG re-gasification capacity forms part of Uruguay’s Energy Policy up until 2030. Although it uses very little natural gas domestically, it plans to export LNG to Argentina, which has dwindling resources.