Pacific Rubiales to build Colombia LNG pipeline, supply Gazprom

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.

Comments (2)
  • Hendershott
    , contributor
    Comments (1828) | Send Message
    Gazprom will buy gas?
    11 Apr 2014, 07:20 PM Reply Like
  • Ajayyy
    , contributor
    Comments (325) | Send Message
    Just my luck. I sold the last of my holdings in PRE just yesterday. Been holding calls for a few months and just when I sell, this news comes out. If it goes up on monday, I'll be so sad.


    But still, I bought my calls when the stock was trading at 15. So, can't complain about almost 300% return.
    12 Apr 2014, 11:23 AM Reply Like
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