Pacific Rubiales to build Colombia LNG pipeline, supply Gazprom

|By:, SA News Editor

Pacific Rubiales (PEGFF) says it will spend as much as $200M to build its pipeline in Colombia to export liquefied natural gas, with a contract to supply Russia's Gazprom (OGZPY) for five years from 2015.

Pacific Rubiales is Colombia's biggest private oil producer, with output last year of ~129K bbl/day, and plans to export LNG using the 52-mile pipeline starting sometime next year.

At the same time, state-run Ecopetrol (EC) is looking into the viability of building a gas pipeline that would be capable of moving gas both directions to allow for both exports and imports at different times.