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Frontera Announces Agreement Between Puerto Bahia and GASCO To Pursue LPG Project in Cartagena, Colombia
Frontera Announces Agreement Between Puerto Bahia and GASCO To Pursue LPG Project in Cartagena, C...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n \n \n \n Frontera Announces Agreement Between Puerto Bahia and GASCO To Pursue LPG Project in Cartagena, Colombia\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Project Aims to be\n \n Colombia's\n \n Lowest Cost LPG Importer, Capturing Significant Market Share\n \n \n \n \n 20,400-ton LPG Refrigerated Storage Facility Expected to be In Service by 2027\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n July 22, 2024\n \n \n /CNW/ - Frontera Energy Corporation (TSX: FEC) (\"\n \n Frontera\n \n \" or the \"\n \n Company\n \n \") announced today that its subsidiary, Sociedad Portuaria Puerto Bahía S.A. (\"\n \n Puerto Bahia\n \n \") and Gasco Soluciones Logísticas y Energéticas S.A.S. (\"\n \n GASCO\n \n \") have entered into a Framework Collaboration Agreement (the \"\n \n Agreement\n \n \") to jointly pursue a liquified petroleum gas (\"\n \n LPG\n \n \") project at Puerto Bahia's state-of-the-art liquids and dry cargo port terminal strategically located in the Bay of Cartagena,\n \n Colombia\n \n . The Agreement covers the construction and operation of the LPG project and is expected to be in service by 2027. Frontera owns a 99.97% equity interest in Puerto Bahia.\n \n \n \n \n Orlando Cabrales\n \n , Chief Executive Officer (CEO), Frontera, commented:\n \n \n \n \n \"We are excited to enter into this Agreement with Gasco to build and operate LPG facilities at Puerto Bahia. Through the Agreement, Puerto Bahia and GASCO will bring LPG facilities on-line in 2027 to capitalize on increasing LPG supply deficits in the Colombian market at a time when the LPG market is expected to grow at 4% per year. These supply deficits present a unique opportunity for Puerto Bahia, in partnership with GASCO, to become the strategic destination for Colombian LPG imports.\n \n \n \n \n Leveraging Puerto Bahia's infrastructure and strategic location and GASCO's experience and current domestic LPG distribution market share, the LPG project aims to be\n \n Colombia's\n \n lowest cost importer and will c...