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Altenesol awarded contract to build LNG plant

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LNG Industry,

IAHL Corp.’s subsidiary, Altenesol LLC, has signed a Lump Sum Turnkey (LSTK) Equipment Procurement and Construction (EPC) contract with AMCS Corp. for the Nataly 1 LNG Plant in El Viajano, Colombia.

The contract covers project timetables, insurance liabilities, contingencies and remedies for potential problems, as well as penalties and rewards for timely execution.

Ishmael Chalabi, CEO of AMCS Corp., said: “We’ve had a very positive experience working with Altenesol in this project. We believe that the combination of our technology, international project experience and Altenesol’s pioneering vision for the LNG market in this region provides a compelling and powerful solution for the region’s increasing demand for clean energy.” 

The initial deal with AMCS was delayed due to the incorporation of predicated design changes necessary to accommodate an increase from 180 000 gal./d to 360 000 gal./d.

Management’s decision to make the expansion is expected to save the project millions of dollars in the preliminary as well as final stages of the buildout. This is a direct result from Canacol Energy’s (CNE) gas supply contract increase from 17.5 million ft3/d to 35 million ft3/d for a term of 15 years based on the LNG demand.

The previously announced contract secures gas supply for the second train, doubling total production capacity for Nataly 1 from the initial 180 000 gal./d. When all of the off take contracts are finalised, total estimated revenue from Nataly I shall be valued at approximately US$1.6 billion over the 15 year term.

Stages I and II of the final 360 000 gal./d LNG plant will encompass all necessary equipment for LNG production of 180 000 gal./d and other major required critical components to transition to the larger plant. Stage III will finalise all facets to integrate the expansion.

Edited from press release by

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