Ecuador's hydrocarbons regulator (Arch) authorized the domestic firm Pacific Terminal to build a maritime terminal in Monteverde, Guayas province, to import and store LNG.
The project includes an LNG unloading pier, a 630m (2,066 ft) long access ramp, mooring dolphins and a maneuvering platform.
According to Pacific Terminal's website, the project includes regasification systems and a 100km-long (62mi) gas pipeline to connect the Monteverde plant with the city of Guayaquil, Ecuador's main port.
The company plans to supply natural gas mainly to the region's shrimp farming industry, but also to plastic, cement, glass and other plants.
Pacific Terminal also aims to provide natural gas to thermoelectric plants. According to the firm, replacing diesel and fuel with natural gas would save privately owned industries in the country around $500mn/year.
Pacific Terminal did not immediately reply to a request for more details.
Arch gave Pacific Terminal a deadline of five years to build the terminal and complete the project.
Pacific Terminal is the second company to be authorized to import LNG in Ecuador. The first company to be authorized was Miami-based Sycar which started importing LNG in 2022, but halted it in May of that year.
Currently, the only natural gas consumed in Ecuador is that produced by the Amistad field operated by Petroecuador. Its production averaged 20.6mn cf/d from January-August, down by 3pc compared with the same period of 2023, according to data from the state-owned company.
