Tractebel to Buy LNG from Camisea Consortium

Belgian energy company Tractebel has an unofficial agreement with US-based oil company Hunt Oil to buy liquefied natural gas (LNG) from Peru's Camisea natural gas project for an LNG regasification project in Mexico, a Tractebel source in Peru told BNamericas.

Hunt Oil, which leads the Camisea project, is expected to make a public announcement at the end of September, the source said, adding, "Until that time, there is no more information because there is nothing written." Hunt Oil is close to signing an agreement with an LNG developer in Mexico, Peruvian newspaper Gestion quoted Peru's ambassador to the US Roberto Danino as saying.

Hunt Oil Peru's CEO Carlos del Solar said the consortium is negotiating with three LNG developers in Mexico and could sign agreements with two of them, Gestion reported. Hunt Oil officials could not be reached on Wednesday to say who the other LNG developers might be. Hunt Oil's partner in the LNG export project is South Korea's SK Corporation.

Tractebel has bought land at the port of Lazaro Cardenas in Mexico's Michoacan state with an eye to going through with a US$500mn LNG regasification project that could be ready for operations in 2007-08, according to previous reports.

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