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Publish Date : 28-Dec-2015

Enap, Chiles state-owned oil company and Japans Mitsui inked a framework agreement to build up to two LNG-based power plants with a total capacity of almost 1,200MW.

Mitsui will associate with Enap to develop the 760MW combined-cycle Luz Minera project in northern Chile and 510MW CCGT Nueva ERA in Concon on the central coast.

Enap said that Enap and Mitsui will participate with the projects in tenders for long-term supply that will take place in 2016-18. A major tender will be conducted in April 2016.

Luz Minera would use regasified LNG imported through the Mejillones terminal in the north. Nueva ERA would use gas from LNG imported through the Quintero terminal in the central region of Valparaiso. Enap possess 20pc of Quintero and is one of its 3 original offtakers.

Enap is growing into the power sector to assist stimulate investment and bring in newcomers to a sector that is dominated by a handful of generators. Critics have said that its participation is unnecessary and tilts the playing field, because it is part of the government.

Enap said that Enap chose Mitsui as its strategic partner in a competitive process which drew 16 groups in the pre-qualification stage.

The criteria for selection comprised electricity market experience and access to LNG.

Enap and Mitsui did not specify the level of shareholder interest each will hold in the projects.

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